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posted by takyon on Friday September 21 2018, @07:12AM   Printer-friendly
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


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  • (Score: 1) by khallow on Friday September 21 2018, @11:44AM (4 children)

    by khallow (3766) Subscriber Badge on Friday September 21 2018, @11:44AM (#738055) Journal
    OTOH, I don't share your concern. They aren't going to find a population of people who are susceptible to marijuana marketing, but not the other sorts of marketing. It'll be the same people who were the problem before. And at least, it's no more harmful than what's already out there.
  • (Score: 0) by Anonymous Coward on Friday September 21 2018, @12:46PM (3 children)

    by Anonymous Coward on Friday September 21 2018, @12:46PM (#738074)

    They aren't going to find a population of people who are susceptible to marijuana marketing, but not the other sorts of marketing. It'll be the same people who were the problem before.

    Why do you think that? I mean it's pretty different to buy maryjane from your buddy's friend in some back alley than to see an ad for it on the front page of a news paper and to buy it in a supermarket. I think it will reach a whole new audience. And some of the old audience will quit it too as it becomes mainstream.

    • (Score: 1) by khallow on Friday September 21 2018, @12:49PM (2 children)

      by khallow (3766) Subscriber Badge on Friday September 21 2018, @12:49PM (#738075) Journal

      I mean it's pretty different to buy maryjane from your buddy's friend in some back alley than to see an ad for it on the front page of a news paper and to buy it in a supermarket.

      Just like it is to buy cigarettes and booze? It's all chasing after the same money.

      • (Score: 2) by bob_super on Friday September 21 2018, @06:20PM (1 child)

        by bob_super (1357) on Friday September 21 2018, @06:20PM (#738287)

        There's a reason most of Europe prohibits advertising of medications, alcohol and tobacco (and by extension, pot).

        It drives me nuts that every 5 minutes during any US sports broadcast (or two minutes for football), kids are reminded that cool happy people drink $alcoholic_juice and/or caffeine-laden gateway juice.

        • (Score: 2) by dry on Saturday September 22 2018, @04:22AM

          by dry (223) on Saturday September 22 2018, @04:22AM (#738480) Journal

          Canada is much the same for advertising medications, alcohol and tobacco and I'm sure pot when it becomes legal next month.