While Tilray only made $20 million in revenue last year, the company is now worth $20 billion. Despite heavy speculation on cannabis stocks, the Canadian company has seen growth that has surpassed Canopy Growth Corp.
With a 1311% growth increase since opening at $17 a share. The marijuana stock reached $240 a share on Wednesday, September 19th. Seattle based Privateer Holdings Inc. holds 76% of Tilray shares worth an estimated $12 billion after the stock increase. Privateer founder, Peter Thiel, is looking like an absolute genius right now as we’re seeing a Bitcoin-like boom on the cannabis stock.