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The world's largest cannabis company is worth more than Twitter

After receiving approval to export Cannabis to the United States for research, the market value of Canadian cannabis company Tilray reached $ 28 billion - making it the largest cannabis company in the world.

Canadian cannabis company Tillray (Tilray) was first issued on Wall Street in July at a market value of 1.43 billion, and the price of 17 per share.

Since then, it has risen by 1,150% to 28 and $ 300 per share, making it the largest cannabis company in the world.

The company's latest jump came this week after it announced on Tuesday that it had received approval from the US Drug Enforcement Authority (DEA) to export Cannabis to the United States for clinical research in California.

Following the announcement, the stock surged more than 90% during the day and its new value is even higher than the market value of the social media company Twitter and a number of other global companies.

The company's share price has fallen to $ 171 per share, but it remains the world's largest cannabis company.

Last month (August 2018) We reported On a huge investment by the Constellation Brandes alcohol corporation in Canada's Canadian Canopy company, which until now has been considered the world's largest cannabis company.

After the announcement of exports to the US, Teilray's market value boosted it to remove rival Knopi, which currently stands at about $ 50 per share and 12's market value.

Unlike Canopy, Teelray prefers to remain an independent cannabis company and not be acquired by a large alcohol company, according to Brendan Kennedy, the company's chief executive.

"I do not want to be an associate of Anheuser-Bush," he said, referring to the American alcohol giant who produces beer brands like Budweiser and Stella Artois. "I want to build a company like Anheuser-Bush."

"We plan to build a company that will control a portion of 150's $ 1 billion. I think we'll see several companies of hundreds of billions of dollars, "he added.

In an interview with CNBC Kennedy said that the cannabis market is a competition for the pharmaceutical and alcohol industries, so the major drug companies and the alcohol companies should start thinking about cooperating with cannabis producers to hedge their investments.

"I think all the alcohol drinkers need to get into this industry, it's an excellent hedge for them," Kennedy said. "Whether you're an alcohol company or an alcohol investor, it's a global opportunity."

CEO of Tillray
Terlay CEO Brendan Kennedy

In the financial reports published by Teelray in August, the company reported 9.7 sales of $ 1 million - a rise of 95% compared to the second quarter of 2017, thanks to The approaching legalization In Canada and an increase in demand for cannabis there.

However, Kennedy argues that Tillray's future growth potential is not based on predictions of legalization of cannabis for recreational purposes in the United States but on the growth in the medical market. He estimates that the number of countries that will allow medical cannabis law will almost double in the coming years.

The gap between the company's actual revenues and its share value is enormous - and stems from the tremendous potential that investors see in the global cannabis market. The gap between the company's actual profits and its market value is the largest among the large companies in the global market.

In March 2018 She announced Tiller has signed a strategic partnership with Canadian drug giant Novartis, which is best known as a manufacturer of the drug Ritalin.

Cannabis fines

(Starting with 1 in April 2019)

Based on a figure revealed by Minister Erdan. Police refuse to reveal official figureDetails here)

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