Tilray shows the highs, lows of investing in pot

Tilray shows the highs, lows of investing in pot

Tilray will be exporting to the University of California San Diego capsules with two active ingredients - cannabidiol and tetrahydrocannabinol, better known as CBD and THC - extracted from the cannabis plant for a clinical trial as a potential treatment for essential tremor, a neurological disorder that causes uncontrollable shaking. The serendipitous growth of these cannabis stocks may force large pharmaceutical companies to partner with these companies to effectively hedge against the marijuana medicine industry invading their market share, according to Tilray CEO Brendan Kennedy.

This week, Coca-Cola acknowledged it could one day offer cannabis-infused drinks, although it doesn't have immediate plans to sell them.

The surge in stock price comes after the USA -based Drug Enforcement Agency approved it to ship marijuana to the US for medical research.

"The total global (cannabis) category could reach upwards of $200 billion, as suggested by Constellation Brands, " said Stifel analyst Christopher Growe.

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On Tuesday, Tilray climbed 29% following the news it had been approved as the first cannabis company to export legal weed into the United States for a clinical trial to treat essential tremor, or ET, at the University of California at San Diego.

The company's shares have jumped by as much as 1,600 per cent since it began trading on the NASDAQ exchange in July. At its peak, the stock traded for close to US$300.

Recreational marijuana will become legal across Canada on October 17, and consumable forms of the drug will be legal in 2019.

"(The) news is a positive for both TLRY and the broader cannabis stock universe, as additional medical applications and improved government support add another domino to future legalization in the US", she said in a note on Tuesday. Tilray had just $20 million in revenue a year ago, but with a market valuation of about $16 billion, it's now more valuable than Tiffany.

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