Tilray went on an historic 1,664 per cent run that saw its shares touch $300. Last week it was trading below $35
It’s easy to see why Beyond Meat Inc. investors have been caught up in the hype, according to Renaissance Capital founder Kathleen Smith.
That valuation, investors quickly found out, was unsustainable — by last week, the stock had fallen below US$35. The path Tilray has taken since its quick start should serve as a caution to those who are looking to invest in Beyond Meat, Smith said. “That enabled investors to take their money elsewhere and that let a little bit of air out of the Tilray balloon,” Hundley said.
Where Beyond Meat investors may have further cause for concern is in the stock’s float. Only 19.52 per cent of its shares are currently being traded. The rest are in lock-up. The low supply adds to the scarcity value and has the potential to fuel early gains, but as Tilray investors learned, there can be severe repercussions.
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