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The cannabis company Tilray, which loses money, finds that there is nothing good in the stock market.
Tilray's shares fell more than 25% early in the trading session Friday, ending a wild week that sent the Canadian company's shares into a series of volatile fluctuations. Despite the decline, the market value of the company is $ 12 billion, which makes it more interesting than Macy's or Harley-Davidson.
The rapid fall comes after the savage trade earlier this week. Thursday, shares jumped early in the session before falling more than 20% at midday, lowering their market value of about $ 4 billion in a few hours.
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<p>However, since its IPO on the Nasdaq in July, the company's shares have been multiplied by seven, causing comparisons with the interest of speculators for bitcoin and other crypto-currencies. </p>
<p>So, what is illuminating investors about Tilray? Part of the fascination was fueled by news that a private equity fund backed by PayPal's co-founder, Peter Thiel, holds 76% of its capital. Others are interested in the growing market for medical and recreational marijuana, as well as many other cannabis-based products. Coca-Cola, for example, monitors infused CBD beverages, the ingredient in marijuana that treats pain but does not improve people. </p>
<p>However, Tilray has not yet made a profit. By March 2018, the company had lost more than $ 45 million, according to a regulatory filing. The company operates in countries where cannabis is legal, such as Canada and Germany, and sells through brands such as Goodship, a food company manufacturing cookies infused with CBD. </p>
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<p> © 2018 CBS Interactive Inc. All rights reserved.
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