Tilray, officially known as Tilray Inc., which trades under the ticker symbol TLRY, is one of the fastest growing cannabis companies in the world.
In the last 30 days, the stock is up nearly 1,000%, which equates to roughty a 10x return on money invested. Needless to say, Tilray is exploding. Here’s the quick guide that explains how to buy Tilray stock and get in on the action.
Key Points
- Tilray is headquartered in Nanamino, Canada
- Tilray is a medical marijuana company focused on cultivation, research, distribution, and processing of legal cannabis worldwide
- Shares have risen so much that they were halted numerous times
- Traders should always use TradeStation to trade stocks like Tilray for only $5
- TradeStation doesn’t have any account minimums or inactivity fees
Tilray Stock News
Although many cannabis stock pundits are claiming that investing in legal cannabis is a fad, it’s impossible to ignore the sheer size of Tilray.
With a valuation of over $100 billion dollars, this is one of the biggest cannabis companies in the world.
Investors evidently love this news, because Tilray stock nearly tripled only two days after the announcement.
Why is Tilray Going Up so Much
According to analyst reports, Tilray is soaring, in part, because of an epic short squeeze. A short squeeze is when investors bet against a stock, like Tilray, by borrowing shares they do not own and then selling them to initiate an investment. This is a practice known as short selling. See the best brokers for short selling.
As the price of Tilray continues to rise, it puts more pressure on shorts to “cover” their position. Theoretically, the loss potential of short selling is unlimited, so shorts always need to cover their position eventually. They cannot short and hold forever.
This is one of the major reasons why Tilray is rising so much. Another explanation has to due with Canada’s legalization of marijuana which is set to occur sometime in the next month. This will be a huge boon for Tilray, as they can expand beyond the medical marijuana industry into the legal recreational marijuana industry.
How to Buy Tilray Stock
If you’re looking to buy Tilray stock and invest in the cannabis sector, TradeStation is the best online broker to do so.
Step 1: Open and fund an account with TradeStation
Step 2: Navigate to the “Trading” tab and enter “TLRY” into the QUOTE box
Step 3: Make sure you select “Limit” order and select the price you wish to purchase Tilray stock at. Because Tilray is very volatile at the moment, it’s always best to use limit orders.
Final Thoughts
No one knows if this massive surge in Tilray’s stock price is just the beginning, or a sign that we are in a massive cannabis asset bubble. If we look at the evidence, the former is more likely, especially when more and more countries begin legalizing marijuana.
Bottom line, Tilray is a huge player in the cannabis space. And history tells us that the large companies cannot be ignored, particularly when their stock price triples in a few days. If you are wondering how to buy Tilray stock, make sure you do your homework and use TradeStation.
