Tilray (NASDAQ:TLRY) is a licensed cannabis producer in Canada. The company is American-owned, but is based in Nanaimo, BC.

It sells cannabis and cannabis-related products domestically in Canada, as well as to countries in Europe, the South Pacific and Latin America.

After being a privately owned company for five years, Tilray was the first cannabis stock to launch on the NASDAQ on July 9, 2018. The stock offered to the public is Class 2 stock, which holds one vote per share; Class 1 stock on the other hand carries three votes per share.

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Seventy-five million Class 1 shares are privately owned, making Tilray a “controlled company,” with the majority of its voting power privately controlled.

Tilray stock has skyrocketed from a starting price of US$17 after its IPO, and there are a number of factors that have caused the company’s exponential climb.

Those include a rumored deal with alcohol giant Diageo (LSE:DGE) — some believe Tilray is the frontrunner out of three candidates that have been earmarked as potential partners for the company. So far no other news has come out, but Tilray stock soared after this story broke out.

Another factor that has boosted Tilray stock is its Q2 2018 report, where it revealed a 95-percent increase in revenue year-over-year.

Some say Tilray stock will continue on its tear until October 17, 2018, the day cannabis is legalized in Canada. However, others believe the bubble will burst before that day comes, calling the company’s spike since its IPO unsustainable.

One cannabis analyst has suggested Tilray stock and other key players have been “hijacked by traders,” and has cautioned investors not to get caught up in the momentum. Time will tell for Tilray stock.

Don’t forget to follow us @INN_Cannabis for real-time updates!

Securities Disclosure: I, Amanda Kay, hold no direct investment interest in any company mentioned in this article. 

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