Shocking News Lifts Tilray Stock +19%

Yesterday, a huge weight was lifted from Tilray stock.
And the news sent Tilray (NASDAQ: TLRY), one of Canada’s biggest cannabis stocks, surging 19%.
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So, what’s behind the big move?
Well, it has everything to do with the company’s July 19 initial public offering.
Tilray stock has a small public float. And that’s one reason that the stock quickly surged from its $17 IPO price to reach $300 per share.
On Jan. 15, 77% of Tilray’s shares become “free trading.” Most of that stock is owned by a venture capital firm called Privateer Holdings.
There was considerable concern that “insiders” would start selling Tilray stock in mid-January. And that has proven to be an overhang for the stock . . . until yesterday.
Privateer announced that it won’t sell ANY Tilray shares . . .
In a press release, Privateer managing partner Michael Blue said:
“Privateer Holdings strongly believes in Tilray’s long-term global growth strategy and pioneering role in shaping the future of the legal cannabis industry. Given this, we do not have plans to register, sell or distribute the shares Privateer holds in Tilray during the first half of 2019. When we decide to distribute shares, we will do so in an orderly and deliberate manner.”
That news removes the near-term concern that Privateer would start selling stock – sending Tilray stock plunging.
A total of $200 million has been invested in Privateer’s venture capital fund. Of that amount, $40 million was invested in Tilray.
Today, Privateer’s investment is valued at $7 billion.
That means the firm has made a 17,400% profit on Tilray!
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Cannabis stocks are having a strong rebound since Christmas. After yesterday’s 4% gain, the Horizons Marijuana ETF (TSE: HMMJ) is now up 34% since Dec. 24.
Now that the holidays are behind us . . .
I expect big news from pot stocks. This includes legalization in Illinois, New Jersey and New York.
Plus, I expect strong recreational sales from Canadian companies when they report quarterly earnings in February.
Positive news flow could send the sector re-testing the October highs within 90 days.
That’s why I’m hosting this urgent briefing:
Top 3 Pot Stocks to BUY on January 16
Yours in Profits,
Ian Wyatt