Many investors in the cannabis industry have faced significant losses in the past year as the industry highs of fall 2018 seem a long time ago now. While industry followers were optimistic about the legalization of recreational marijuana in Canada last year, driving many cannabis stocks higher, the ensuing results have been far more mixed.
One such stock that has been caught in this boom-bust cycle is Tilray (NASDAQ:TLRY). Tilray made its debut on the Nasdaq last July and quickly surged from its IPO price of $17 per share to a record high of nearly $180 just three months later. Shares of its major peers such as Aurora Cannabis and Canopy Growth more than doubled between August and October 2018 as well.