Whitney Tilson: Tilray stock got ‘way, way ahead of itself’
A year after Tilray made history by becoming the first cannabis company to debut on a major U.S. stock exchange, one prominent value investor is doing a victory dance - because he nailed his call on a stock that’s taken investors on a wild roller coaster ride.
Whitney Tilson was on Yahoo Finance’s The Final Round on September 19th, 2018 when Tilray stock hit $300 per share. And while most of Wall Street was cheering the cannabis darling, Tilson was singing a different tune, predicting the stock would plunge by a whopping 90% within a year.
Ten months later, Tilray stock has given back a significant chunk of post-IPO gains — falling by roughly 85% since its 52-week high of $300 per share.
