Photo: Uriel Sinai / Getty Images
on Friday, when a private equity firm, the controlling shareholder of the company, announced that it would not sell shares when Tilray's IPO lockout expired on Tuesday, January 15th. Holdings, a privately held Seattle-based company, supported by the billionaire investor Peter Thiel, and whose directors are Tilray CEO Brendan Kennedy.
By closing on Friday, the Tilray share (TLRY) traded five times with a recent average daily trading volume of 19% to $ 96.
"Privateer Holdings is firmly convinced of Tilray's long-term global growth strategy and a pioneering role in shaping the future of legitimate hemp industry," Michael's partner in managing Privateer said in a brief statement to the public. He said that Privateer did not intend to sell stocks in the first half of 2019.
Privateer holds 77% of Nanaimo shares, Tilray of British Columbia. A private equity firm says it has raised approximately $ 200 million to invest in cannabis, such as Tilray. So far, so good. The $ 40 million received by Tilray for its shares are now worth $ 7 billion – without taking into account the value of Absolute Privateer's control over the pot maker.
"When we decide to distribute the shares," said Blue, "we will do this in an orderly and thoughtful way to maximize tax aspects for private investors, taking into account potential impacts on Tilray's public transport."
American Investment Bank
(COWN) was Tilray's banker when the marijuana company went public for $ 17 in July and the deal raised a $ 17 million Tilray bank account. Costs of Cowen cost about a million dollars.
Although Tilray's volatile shares are far below the 300-dollar summit, when the sector of battles similar to cannabis hedged in September, he took over the battle, the Tilray stock and such competitors as
Growth of the crown
(ACB) increases for several days. Analysts at Piper Jaffray and Cowen were lagging behind Canopy and Tilray this week, recommending that growers overcome the production problems that caused the shortage since Canada started selling recreational pots on October 17th. the consequences of poor vibration.
Bull Tilray must make a dizzy projection to recommend a stock here. With a market capitalization of close to $ 9 billion, Tilray's value is more than 200 times the annual value of sales in the quarter.
Prices in the pot quickly fall. Friday, rival
(APHA) reported that its gross margin decreased as its average sales price per kilogram in Canada fell by 8% in the November quarter to $ 6.54. The average price for Tilray in the September period was 7.98 euros. Wholesalers with Canadian provincial governments have told companies such as Tilray that prices should continue to fall if legitimate sales come from the black marijuana market.
But short sellers are likely to take their bets from the sector, after eliminating in December. Aphria also said that its executive director, Vic Neufeld, will resign. This news triggered the cessation of hostility by Quintessential Capital Management, a hedge fund that criticized Aphrie shares last month. Quintessential said he was moving on to new projects.
Write in Bill Alpert at firstname.lastname@example.org