One Year Later: 3 Takeaways From the Tilray Bubble
A year ago today, investors were falling all over themselves to grab a piece of Tilray (NASDAQ: TLRY), the hot Canadian pot grower. A bubble that had been forming in the stock following its July initial public offering at $17 a share and in marijuana stocks, more broadly, in anticipation of Canadian legalization that October, came to a head on Sept. 19, 2018, when Tilray stock jumped from a closing price the day before of $154.98 all the way to $300, nearly doubling, before closing at $214.06.
Today, the stock trades around $30, down 90% from its peak a year ago. Some investors may rather forget the heady days of the Tilray bubble, especially those on the losing side, but it's worth taking another look at the event as a reminder of how market bubbles happen. Below are three takeaways from the Tilray bubble.
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Source Fool.com
