A smoking hot ride may be an understatement.
Shares of cannabis player Tilray (TLRY) - Get Tilray, Inc. Report opened up about 20% on Wednesday following a bullish interview by CEO Brendan Kennedy on TheStreet Jim Cramer's 'Mad Money' show. The stock quickly traded up 40% before noon. By around late afternoon, Tilray was up 90% before being halted. The stock opened back up and gave up a good chunk of the gains only to be halted with about 30 minutes left in the session.
The stock reopened, briefly traded in the red, and then gained roughly 40%. Insane to say the very least.
If you are an investor watching this one from afar, proceed with extreme caution on Tilray. The stock has completely detached from the financial reality that is likely to unfold within the next 18 months.
Tilray is Real Money's 'Stock of the Day' today.
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