Cannabis stock is so hot it's smoking

The first private equity firm focused exclusively on the cannabis industry has created three billionaires

The company had $20 million in sales in 2017, but it's now worth considerably more than Macy's or Hasbro.

The stock closed at more than US$214, up 38 per cent, after being halted five times within one hour.

For some people on Wall Street, it's bringing back unpleasant memories. "Whether you're an alcohol or an investor in an alcohol company, this is a global opportunity". This week, Coca-Cola acknowledged it could one day offer cannabis-infused drinks.

Tilray, along with Aurora Cannabis, spiked Monday after BNN Bloomberg reported that Coca-Cola is in serious talks with Aurora to develop cannabis-infused beverages.

Canopy Growth has more than doubled in value this year, and Cronos Group has jumped 72 per cent. GW Pharmaceuticals, which recently received government approval for a cannabis-derived drug used to treat seizures, is up 29 per cent.

Tilray soared 29 per cent Tuesday after announcing the U.S. DEA approved plans for it to import medical marijuana to supply a clinical trial in California; the stock has gained 42 per cent this week and more than 1,100 per cent since its trading debut in July. It closed up 38.1 per cent on the day at $214.06, valuing the company at almost $20 billion.

Recreational marijuana will become legal across Canada on October 17, and consumable forms of the drug will be legal in 2019.

Tilray cultivates, processes and distributes cannabis extracts and dried flower products to patients, doctors and medical researchers around the world, including Britain.

According to newest insights from KAYAK, one of the worlds largest flight aggregator and travel metasearch engine, these are the top trending destinations among Canadian travellers in 2018, and the statuses and penalties for cannabis use for each of them.

Tilray shares shot up over US$230 just after the trading day began on Wednesday, but quickly backed off.

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