Tilray (TLRY)

History of the Company

Tilray was founded in 2013, as a Canadian / USA pharmaceutical and cannabis producer. Although headquartered in British Columbia, Canada, Tilray was financed by the Seattle-based cannabis investors Privateer Holdings. It is unique in that it was founded with the sole purpose of producing legal cannabis products for sale in the USA.

Tilray’s cannabis products were approved by the Good Manufacturing Practices (GMP) scheme in December 2016. This made them the first company to be GMP approved for cannabis production across North America. This landmark achievement was the first of many for the company.

Another first was its IPO, which was offered on the NASDAQ rather than the NYSE, TSX or Canadian Stock Exchange. This was in July 2018, in time for the company’s next breakthrough. This came in September of that year, when Tilray became the first company to be allowed to export cannabis to the USA for clinical trials.

In December 2018, Tilray signed a deal with Sandoz pharmaceuticals to sell its cannabis-based products across the world.

Trading Tilray: What You Need to Know

  • On the opening day of trading, Tilray was valued at $29.77 USD on the NASDAQ. This was Friday, 20 July 2018.
  • After an initial drop to a low of $24.15 on 3 August, shares began to rise rapidly towards the end of that month. On 31 August, they were trading at $65.20 USD.
  • During September, Tilray’s share price rocketed. This came on the back of the news that it had won the right to import cannabis products into the US for medical trials. By Friday 28 September 2018, Tilray shares were worth $143.62 USD, a rise of 482% from their opening day value.
  • Maximum share price to date was recorded on 12 October 2018, when Tilray achieved $148.30 USD per share.
  • Tilray’s NASDAQ value fell sharply in mid-October, losing 26% of their value in one week. This was because of an announcement by food and drinks giant PepsiCo that it was avoiding cannabis-based food or drink production for the foreseeable future. Hopes had been high in the emerging cannabis industry that GMP approval and Tilray’s import breakthrough would give the green light to wider investment by food and drinks manufacturers.
  • After the dramatic slump in Tilray’s shares in October, they rallied somewhat during November, as the sector’s resilience survived the PepsiCo blow. Tilray peaked at $116.03 USD on Friday 23 November 2018.
  • Since then, prices have seen another fall, to a value of $75.15 USD at the end of December 2018. This represents a steady end to the year, at a value over 2.5 times higher than the IPO.

Anyone who wants to invest in Tilray stocks should analyze the cannabis market sector before making any decision.

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