The recent IPO and explosion of Tilray Inc. (TLRY) has investors both worried and excited. Tilray is in the emerging corporate cannabis industry, which has high prospects. Below we outline the downside targets for both current price of $118 and $236 for when/if the stock doubles from the current price.
The conservative downside target is fairly assured to occur in either case. From the $118 level, a decline to the $66.67 level would be a natural retest of the $77.89 level set on September 7, 2018.