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Home Canada

Here’s Why Shares of Tilray Ripped Today

Susie Peterson by Susie Peterson
August 15, 2018
in Canada, Marijuana Stocks, Trading
Citron Research - Andrew Left
349
SHARES
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For those of you who watched shares of Canopy Growth Corp. (NYSE:CGC) (TSX:WEED) skyrocket today, you’ve probably figured out by now that it was caused by the early morning announcement of aΒ $5 billion CAD investment from Constellation Brands (NYSE:STZ).

For those of you who watched shares ofΒ Tilray, Inc. (NASDAQ:TLRY)Β skyrocket today, the reason may have been less clear.

Surely, all ships rise on high tide. That being said, today’s 20% rise in share price for Tilray was caused by a Tweet and a research report from Andrew Left at Citron Research.

“Today is the day that everything has changed in Cannabis. Real $$$ into space. Next to get support should be Tilray $TLRY tgt $45 citronresearch.comΒ for the full story”

β€” Citron Research (@CitronResearch) August 15, 2018

 

With a price target of $45 per share of TLRY, Citron sees approximately 54.63% upside for the recently IPO’ed Canadian licensed producer.

For those who doubt Citron’s accuracy,Β the research reportΒ notes that “On Jan 3, 2018, Citron predicted that Aurora Cannabis would fall from the then $14 to $6.50. It currently trades at $6.19.”

 

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Tags: Andrew LeftCitron Researchlicensed producerNASDAQ:TLRYTilray Inc.

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Susie Peterson

Susie Peterson

Susie is a staff writer for MJobserver.com covering a wide variety of topics within the cannabis industry ranging from business to lifestyle.

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