Tilray’s price analysis shows high risk moving forward
Tilray(TLRY) currently trades at $7.83 and has grown by 31% in the past 24 hours. Given the way analysts feel about Tilray right now, this huge implied volatility could mean there’s a trade development. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.
Based on this information, investorsQ rates this stock an 5 out of 10. We give it this rating because Tilray brings a huge risk to your portfolio. Look at Tilray as more of a gamble than an investment due to most cannabis companies burning cash faster than they can make it. The high forecast for Tilray is $15 and the low is $2. Notably, the company’s market cap is $876.95 million with a 52 week high of $66.87 and a 52 week low of $2.43.