Tilray: Next in line in a Budding Cannabis Industry
Target Price of $45/share
Today is a Turning Point in the Cannibas Inc.- Let the big money flow in
On Jan 3, 2018, Citron predicted that Aurora Cannabis would fall from the then $14 to $6.50. It currently trades at $6.19.
Today we state that you would have to be ‘high’ to short any of the marijuana names based on the recent investment by Constellation in to Canopy Growth, the largest investment in the space ($4bn).The premium paid to market shows confidence by Constellation that could rattle any short seller.
The opportunity now lies in finding the next company to get a white knight at a premium to market and to Citron that answer is easy- Tilray.
Citron believes that Tilray is best in class and if it were to get the same multiple we are assigning to Canopy, the stock would be trading at $45 a share.