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from the I'm-not-afraid!-You-will-be!!! dept.
From the fine pages of the New York Post, such as they are:
Shares of Peter Thiel-backed marijuana grower Tilray soared as much as 94 percent on Wednesday, briefly hitting a market value of $28 billion, as bullish comments from the company's chief executive stoked Wall Street's growing euphoria over marijuana stocks.
But late in the afternoon, the shares crashed, falling briefly into negative territory before spiking in the final minutes to close the day at $214.06, up 38 percent. Traders blamed the wild ride, marked by at least four halts for volatility, on a short squeeze as pot-addled investors tried to get their heads around the budding business of legalized weed.
Despite the bumpy day, shares of the Canada-based pot farmer — which are up 10-fold from their debut on the Nasdaq in July — closed with a market capitalization of $19.93 billion, bigger than Expedia, Dish Networks and Mylan. Twitter, which briefly got eclipsed by Tilray, closed Wednesday with a market cap of $22.3 billion.
Thiel, the libertarian tech tycoon who backed Donald Trump in 2016, is rolling in the green thanks to Tilray's runup. Pot-focused private equity fund Privateer Holdings, in which Thiel is a big investor, owns 76 percent of Tilray's stock — making the fund's stake worth roughly $15 billion.
Wow, better than a Tesla pump-and-dump, no doubt due to the mimetic transfusion of young non-gay blood!
See also: Investing in cannabis is 'a great hedge' for alcohol and drug companies, CEO of medical marijuana producer Tilray says
Canadian cannabis producer Tilray had a wild day after its CEO appeared on Cramer's 'Mad Money' (TLRY)
It's Time for a Reality Check About Tilray
Weed is the new blockchain
Tilray Is Partying Like It's 1999 (and It Won't End Well)
Pot-focused investment fund backed by Peter Thiel gets a boost from its big stake in Tilray
(Score: 1, Interesting) by Anonymous Coward on Friday September 21 2018, @09:27AM (1 child)
Before it was Schedule 1'd, Marijuana was a common weed, sometimes under the nom de weed of "pigweed". Much like fireweed and some other opportunists, it would grow like crazy all on its own in any disturbed patch of soil (thus the name, where pigs do root, pot will grow). So the idea that somehow companies are going to make money off of this weed without the artificial scarcity of a legal ban and the black market conditions that go with that, and of course the gangs, drive-bys, turf-wars, mass incarceration of non-Republicans, is quite insane. It is almost as if the investors were smoking something. And we all know the First Rule of Dealing Drugs!
(Score: 2) by zocalo on Friday September 21 2018, @10:45AM
UNIX? They're not even circumcised! Savages!