Growing plants is not usually a high-margin activity. From Nick Kelly at wolfstreet.com:
Beyond prohibition, it’s an ag business with no barriers to entry.
The stocks of cannabis companies have been on a wild ride, with some observers comparing them to the crypto-craze. Canadian based Tilray (TLRY), which went public in July at $17 a share and is trading on the NASDAQ, was in the $20 range until late August, when it started flaring like a supernova. By September 19, it briefly reached $300 a share, up 1,660% from its IPO price two months earlier. The market cap approached 29 billion, making it more valuable than Clorox, though it had only $17 million in revenues in the first half of 2018 and generated a loss of $18 million.
Then it plunged for the rest of the week. Smaller gyrations continued into this week. Today it closed at $131.30, down 56% from its peak, but still up 672% from its IPO price, with a market cap of $7.6 billion.
