A notorious short seller says huge gains in Canadian cannabis producer Tilray are 'beyond comprehension' (TLRY)

A notorious short seller says huge gains in Canadian cannabis producer Tilray are 'beyond comprehension' (TLRY)

  • The Canadian cannabis producer Tilray has surged more than 800% since its initial public offering in July.
  • Citron Research says the gains are “beyond comprehension.”
  • The firm says it’s short the stock.
  • Watch Tilray trade in real time here.

The notorious short-selling firm Citron Research has doubled down on its bet against surging cannabis stocks. 

tweet fired out Wednesday, the Andrew Left-led research firm said the more than 800% gain in Tilray shares since their July initial public offering is “beyond comprehension” and that it is holding a manageable short position “until rationality sets in.” Shares are up more than 40% on Wednesday after Tilray CEO Brenden Kennedy appeared on CNBC’s “Mad Money.”” data-reactid=”37″>In a tweet fired out Wednesday, the Andrew Left-led research firm said the more than 800% gain in Tilray shares since their July initial public offering is “beyond comprehension” and that it is holding a manageable short position “until rationality sets in.” Shares are up more than 40% on Wednesday after Tilray CEO Brenden Kennedy appeared on CNBC’s “Mad Money.”

scathing report on Tilray rival Coronos and the marijuana space in general. ‘ data-reactid=”39″>On August 30, Citron came out with a scathing report on Tilray rival Coronos and the marijuana space in general. 

As for Coronos, Citron said the cannabis producer “appears to have been deceiving the investing public by purposely not disclosing the size of its distribution agreements with provinces – unlike every other major cannabis player.”‘ data-reactid=”41″>As for Coronos, Citron said the cannabis producer “appears to have been deceiving the investing public by purposely not disclosing the size of its distribution agreements with provinces – unlike every other major cannabis player.”

It added: “Our sources have informed us that it’s because the agreements are so small they could never justify the premium investors are paying for the stock.”

accusing Valeant Pharmaceuticals of being a “pharmaceutical Enron,” and helping raise questions about the firm’s accounting and relationship with the specialty pharmacy Philidor.” data-reactid=”43″>Left is perhaps best known for accusing Valeant Pharmaceuticals of being a “pharmaceutical Enron,” and helping raise questions about the firm’s accounting and relationship with the specialty pharmacy Philidor.

Why horseshoe crab blood is so expensive‘ data-reactid=”65″>NOW WATCH: Why horseshoe crab blood is so expensive



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