Tilray Inc. (Nasdaq: TLRY) was the first cannabis company to go public on a major U.S. exchange.
But even though that happened only two months ago, it's old news.
It's Stone Age news.
Here's the current news.
Over the past five days, this stock is up 92%. Over the past month, it's up 496%.
The company went public July 19, at the price of $22 per share. It closed yesterday at $214.06. That means Tilray has skyrocketed 873% since its IPO.
Speaking of yesterday, it was a wild ride. Though the stock finished the day up 38%, it approached triple-digit gains for the day at one point – and then fell sharply. Along the way, trading got halted five times due to volatility.
This most recent bout of big gains started early this week after the British Columbia–based company got the go-ahead from the U.S. Drug Enforcement Agency (DEA) to ship marijuana to the United States for a clinical trial. Right after the news broke, Tilray's shares surged 12% overnight. By the end of the day, they had risen 30% in 24 hours.
As I write this, Tilray's market cap is $19.94 billion. This can no longer be described as a "tiny cannabis company" – and neither can many of its Canadian competitors.
This is a first. And a big one.
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Marijuana remains illegal at the federal level, and so the feds have had a historically stingy attitude toward marijuana – and they make no exceptions for research projects.
Until now, only the National Institute on Drug Abuse could provide dried-flower cannabis for such investigations. Dried flower can only be smoked or vaporized, meaning there was no way to control the dosage, and no way to measure the health implications of smoking the plant versus simply consuming it.
But now the DEA is allowing Tilray to export encapsulated medical marijuana, with precise doses and formulations, to the University of California, San Diego, for clinical trials.
In other words, Tilray has busted through a door to U.S. medical research that was previously closed, locked, and barricaded. So you should expect to see more opportunities from cannabis companies at the forefront of medical research cropping up.
And where there are opportunities, there's a straight path to profits.
About the Author
Michael A. Robinson is a 36-year Silicon Valley veteran and one of the top tech and biotech financial analysts working today. That's because, as a consultant, senior adviser, and board member for Silicon Valley venture capital firms, Michael enjoys privileged access to pioneering CEOs, scientists, and high-profile players. And he brings this entire world of Silicon Valley "insiders" right to you...
- He was one of five people involved in early meetings for the $160 billion "cloud" computing phenomenon.
- He was there as Lee Iacocca and Roger Smith, the CEOs of Chrysler and GM, led the robotics revolution that saved the U.S. automotive industry.
- As cyber-security was becoming a focus of national security, Michael was with Dave DeWalt, the CEO of McAfee, right before Intel acquired his company for $7.8 billion.
This all means the entire world is constantly seeking Michael's insight.
In addition to being a regular guest and panelist on CNBC and Fox Business, he is also a Pulitzer Prize-nominated writer and reporter. His first book Overdrawn: The Bailout of American Savings warned people about the coming financial collapse - years before the word "bailout" became a household word.
Silicon Valley defense publications vie for his analysis. He's worked for Defense Media Network and Signal Magazine, as well as The New York Times, American Enterprise, and The Wall Street Journal.
And even with decades of experience, Michael believes there has never been a moment in time quite like this.
Right now, medical breakthroughs that once took years to develop are moving at a record speed. And that means we are going to see highly lucrative biotech investment opportunities come in fast and furious.
To help you navigate the historic opportunity in biotech, Michael launched the Bio-Tech Profit Alliance.
His other publications include: Strategic Tech Investor, The Nova-X Report, Bio-Technology Profit Alliance and Nexus-9 Network.