If you had bought 100 shares of Tilray, a cannabis producing and processing company, during its $17 per share IPO on July 19th, you’re probably pretty happy with yourself right now: when the market peaked on Thursday, those shares were worth $300 each, meaning your $1700 investment was now worth $30,000. That’s a solid return on a two-month investment.
Today, it seems that some of the magic from earlier this week has worn off. At publishing time, the stock is sitting at $176.35 per share, which might mean significant losses (or only modest gains) for those who were late to the game. We may not have seen the end of Tilray’s volatility. But to be fair, it’s also possible that we haven’t seen its apex.