Which is weird...
Because Tilray supposedly has a decent business (just Google "seekingalpha Tilray"). But the price action to date has been (as others have noted) nothing short of insane. The CEO has been on a press tour the past few weeks which culminated in an interview on CNBC, and he's yet to even reference the stock price. Another commenter mentioned the craziest part, "You can't even buy $TLRY call options that are out of the money as of today" - meaning, absolutely 0 people foresaw the price action going this crazy.
Why let it get this out of hand? It's a legit business doing legit business? Why do they need the stock price at these insane levels? The resulting burst of this bubble is only going to hurt the retail investors, and cannabis stocks in general (at least short term). Obviously my first answer is the ol' Jordan Belfort pump and dump, but outside of just pure greed, it seems Tilray hardly needs this to happen.
I also learned via Bloomberg that the Tilray CEO, is a leading partner in the (private equity) firm that owns 75 million shares of unlisted Tilray stock. Which makes me wonder if he's working for Tilray, or for private equity (still).
Something is just very, very fishy about this to me.