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 a $5 billion CAD investment from Constellation Brands (NYSE:STZ).
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.com for the full story”
— 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.
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