In 2018, shares of Tilray, went from $17 per share in July to just over $300 in August, an increase of more than 600%. With a market cap at that reached over $10 billion, but with only sales of $28 million short sellers saw an opportunity.
Short interest on the stock spiked to about 3.5 million shares, approximately a third of the company’s overall float. Many short sellers got burned on the way up, but the lucky few made a killing on the way down.
Because Tilray isn’t producing much cannabis now and its peak annual output is nothing to write home
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