"It's just stupid time"

But Wall Street traders warn that the valuation of Tilray becomes too extreme after its movement of stock. The company now has a market value of more than $ 20 billion with a price of $ 233, trading at nearly 500 times its estimated sales in 2018 compared to 2.2 times the sales of the S & P 500, according to FactSet.

Tilray has only recorded sales of $ 17.6 million in the last two quarters, with a net loss of $ 18 million over the same period.

"It's only a stupid moment, I can not believe the assessments at this point," Jon Najarian, co-founder of the Investitute said Wednesday.

The trader said he had rolled higher than Tilray after his IPO, but he still does not have the stock.

A well-known short seller, who even recommended Tilray's actions in mid-August, also thinks the market has gone too far.

"All the space is crazy, but Tilray is crazy in her own life," said Andrew Left, of Citron Research, in an email sent Wednesday. Left confirmed that it is short Tilray actions on social media earlier Wednesday.

Another Wall Street trader has compared the craze surrounding pot inventories this year to the craze for the cryptocurrency market in 2017. For example, Riot Blockchain shares surged more than 400% in the fourth quarter of last year.

"It reminds me of Bitcoin / Blockchain at the end of 2017 … There was a title called RIOT that experienced explosive growth in its course simply because it was one of the few ways to invest in bitcoin publicly, "said Michael Antonelli. an email Wednesday "Humans are emotional creatures and nothing is worse than seeing your friend get rich in a pot stock while sitting in an index fund, so I doubt people are chasing the stock. upper.

Riot Blockchain shares are down more than 85% this year.