Lenore Fedow, 19 September 2018
Tilray Inc (NASDAQ:TLRY) set the cannabis space ablaze following an interview with CNBC’s Jim Cramer, sending its shares surging double digits. But short-seller Andrew Left’s Citron Research had some harsh words to share about the Canadian cannabis company.
Citron Research was previously bullish on Tilray following Constellation Brands Inc‘s (NYSE:STZ) additional US$4bn investment in its rival Canopy Growth Inc (NYSE:CGC, TSX:WEED). Left had said it could be the next marijuana company to get a “white knight at a premium to market.”
The short-seller has cast doubt on other cannabis stocks via Twitter Inc (NYSE:TWTR) as well, including Cronos Group Inc (NASDAQ:CRON, CSE:CRON) and Namaste Technologies Inc (CVE:N, OTCQB:NXTTF). Shares of Tilray soared nearly 50% to US$232 in Wednesday pre-market trading.