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Tilray Inc (TLRY) on Nasdaq

Hi all - Please note as of 9am on the 20th Sept this stock is currently 'unborrowable' which means that you won't be able to open a short position. This is because there is no 'borrow' in the underlying market itself, and is therefore a matter outside our control. You can check out the latest financials on this stock via this post.

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Thanks @caseynotes - worth noting @technovator that you can give us a call if you wish us to manually check for borrow in the market. There are no guarantees, but it may be worth if you want to get the trade on. It may also be possible to trade against our inventory. 

For others reading this it's worth giving us a call if you're looking to get a short on when it's unborrowable in the markets. Cheers.

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Hey all - please note that this stock has around 13% free float so could see significant volatility. Most stock is owned by a private equity firm and it looks like there is no borrow in the underlying market. 

As with all investments, speculations, trades and bets perform due diligence and act accordingly. 

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Guest Marc

Hi - Can you short (i assume that is what people mean by "borrow" ) TILRAY, Via IG INDEX? thanks

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Guest Marc

There are no farms in the world that have a market cap of 20bn. Tilray has not invented Weed and is not the only producer of Weed . So it is a totally irrational move for anyone that asks. but the parabolic move could last days and totally explode. 

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Yes Guest Marc, 'unborrowable' means there is no one willing to lend you the stock for you to short it (you can't sell what you don't have) though the status is fluid and may change off and on throughout the day. All the cannabis stocks have caught fire *cough* recently as they position for a grab at the world market. Bubbles don't come more pronounced than this but as you say you can't predict the top. Lovely weekly chart since listing in July.

PROFILE

Sector, Healthcare, Industry, Pharmaceuticals,

Tilray Inc is a Canada-based company engaged in pharmaceutical sector. The Company is a supplier of cannabis products to pharmaceutical distributors. The Company is focused on medical cannabis research, cultivation, processing and distribution of cannabis products worldwide. It also supplies cannabis products to patients in a number of countries spanning five continents through its subsidiaries in Australia, Canada and Germany and it produces medical cannabis in Canada and Europe.

tlry1.thumb.PNG.ff4dc11d05ebd2516c0ba5d8618de31e.PNG

 

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That was an exciting hour for Tilray @PandaFace. Look at the 15 min chart and the absolute carnage of the sudden hyper expansion then bubble burst. The price action of the end of last week running up to today was pretty spectacular but was dwarfed by the explosive events of last night.    

1491031081_TilrayInc_20180920_07_26.thumb.png.72de051051e940d07ceaaf12036f9f86.png

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Morning all,

Below are the most recent ratios and earnings for TLRY hot off BBG this morning. Moves of the magnitude seen last night are extremely rare and, potentially unwarranted given fundamentals (as usual my opinion only, not advice etc etc.)

As it stands the shares desk have been able to secure exactly 0 borrow in this stock, they'll keep trying but looking increasingly unlikely. We do offer equity options (by phone) in hours on US shares, however premiums on puts are eye-watering ATM.

Will update if anything interesting pops up.

Cheers,

Ludwik

 

sg2018092028354.gif.31f879594c041c28f9594acb1d25bf3c.gifsg2018092028337.gif.9cc9ebabb8bc2f390bf04ac473f3a3e2.gif

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We've had a few questions on the phones relating to shorting, or more specifically why you can't short at the moment on this particular market. The below may be useful for those new to this market event of 'unborrowable' 

 

 

You may find the following pages on IG.com useful. 

https://www.ig.com/uk/news-and-trade-ideas/shares-news/best-marijuana-stocks-to-watch-181219

https://www.ig.com/uk/trading-strategies/how-to-invest-in-the-cannabis-industry-181218 

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Interesting comment from Joe Weisenthal on the combined market cap of the big three in relation to the actual size of the market.

weed1.PNG.d81c246630a032ae544a0c3de81ab24e.PNG

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Guest Mark

Given the circumstances, low float mostly held by the equity firm, the question is, is there one more spike up in the cards?
As I assume there are a lot of people trying to short now with the price falling and some other shorts keeping them in the hope to close way lower, there should be enough fuel still.
I do not think the situation changed much from the start of the week to today regarding the underlying situation.

Obviously the valuation is not sustainable, but that is not the important fact here, but shorts that cannot find shares to cover.

 

Opinions?
Have a nice weekend, everone!

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