Tilray (NASDAQ: TLRY), a high-growth medical cannabis company, continues to surge higher, now up more than 900% since its July IPO.
The newest catalyst for buyers, which was announced early on Tuesday, is a clinical trial at the University of California San Diego to research the two active ingredients in marijuana, CBD and THC, for treatment of the neurological disorder essential tremor.
Now at a $17 billion market cap, Tilray has significantly expanded the upside valuation potential in the space.
While only the nimblest traders should play with Tilray considering its current volatility, there remain a large number of cannabis-related stocks that may someday follow Tilray’s path, creating big profits for early investors.
More states have favorable cannabis legislation than those that still prohibit, and big companies like Coca Cola and Constellation Brands are betting this trend toward ending prohibition will continue. This is a rare early trend opportunity investors won’t want to miss.
