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Cannabis firm Tilray’s share price takes roller-coaster ride

By Monte Stewart


Tilray cannabis
Tilray cannabis - Photo Shutterstock

Canadian cannabis retailer Tilray’s share price experienced a topsy-turvy day on Friday after issuing its latest financial report the previous day.

The price closed down 4.81% at $10.49 on the Nasdaq Global Select market, after taking  a roller-coaster ride on which it dropped, spiked and fell again.

After closing up 2.1% a day earlier, Tilray tumbled below $11 in the first half-hour of trading.  But in the following 30 minutes, the price rose a penny above the previous day’s close and following a four-minute dip, reached $11.08.

Price fluctuated rapidly

For the rest of the trading day, the price rose and fell almost minute-by-minute, staying below $11 and trending downward to almost a complete stop. After-hours activity was negligible.

Tilray reported on Thursday 7 October that revenue rose 43% year-over-year to $168m from $117.5m, but the company's net loss climbed 59.45% to $34.6m from $21.7m in the same period in 2020.

Oil - Crude

68.65 Price
-1.800% 1D Chg, %
Long position overnight fee -0.0209%
Short position overnight fee -0.0010%
Overnight fee time 21:00 (UTC)
Spread 0.03


14,234.60 Price
-0.960% 1D Chg, %
Long position overnight fee -0.0255%
Short position overnight fee 0.0032%
Overnight fee time 21:00 (UTC)
Spread 1.8


27,130.20 Price
-2.490% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 60.00


1,965.02 Price
+0.250% 1D Chg, %
Long position overnight fee -0.0089%
Short position overnight fee 0.0006%
Overnight fee time 21:00 (UTC)
Spread 0.30

Volatility is not exactly new to Tilray.

After the company set a price for its initial public offering at $17 per share in 2018, shares surged to more than $148 per share in the following months, but then fell.

Tilray shares now trade more than 90% lower than early-day highs.

Read more: NerdWallet releases details of upcoming IPO

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