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Canadian cannabis producer Tilray is having a wild day after its CEO appeared on Cramer’s ‘Mad Money’ (TLRY) – Finance – Pulselive.co.ke

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  • Tilray CEO Brendan Kennedy appeared on CNBC’s “Mad Money” on Tuesday evening.
  • He told Jim Cramer that alcohol and drug companies should be looking at the cannabis space and that Canada was just the tip of the iceberg when it came to full legalization of the drug.
  • Tilray shares touched a high of $300 apiece on Wednesday, up more than 93%, before giving up almost all of their gains.
  • Watch Tilray trade in real time here.

The Canadian cannabis producer Tilray soared Wednesday morning after CEO Brendan Kennedy laid out his company’s growth prospects on CNBC’s “Mad Money.”

Shares touched a high of $300 apiece — up more than 93%. But things quickly unraveled late in the session, with shares falling to $168.33 — up just 8.61% — with less than 30 minutes left in the trading day. Trading of the stock was halted for volatility at least four times.

Kennedy told the host Jim Cramer on Tuesday evening that Canada was just the tip of the iceberg for full legalization when it came to marijuana.

“I think you’ll see the third country within 12 months of October, and that’s where the real opportunity is,” he said. “It’s not about Canada — it’s about all the countries that follow.”

And Kennedy suggested the entire alcohol industry needed to get involved in the marijuana space. “It’s a great hedge for them,” Kennedy told Cramer. “Whether you’re an alcohol or an investor in an alcohol company, this is a global opportunity.”

But that’s not all. He also said pharmaceutical companies needed to get in the game, noting that Tilray had already formed a strategic alliance with Novartis.

“Cannabis is a substitute for prescription painkillers, prescription opioids, and so if you’re an investor in a pharmaceutical company or you’re a pharmaceutical company, you have to hedge the offset from cannabis substitution,” he said.

Big share gains like the one seen early Wednesday have been somewhat common for cannabis producers.

For instance, Tilray shares surged 28.95% on Tuesday on word the company was the first to receive permission to export legal weed to the US; it plans to supply a clinical trial at the University of California at San Diego.

And on Monday, Aurora Cannabis soared more than 15% after a Bloomberg report suggested the cannabis producer was in talks with Coca-Cola to develop beverages infused with the nonpsychoactive compound CBD.

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The cannabis frenzy started in the middle of August, when Canopy Growth received a $4 billion investment from Constellation Brands, the beverage company behind Corona beer and Svedka vodka.

At Wednesday’s peak, Tilray shares had gained more than 1,000% since the company went public in mid-July.


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Ruto’s Mt Kenya hustlers meet to fine-tune bottom-up economic model » Capital News

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NAIROBI, Kenya, May 9 – Deputy President William Ruto on Saturday hosted leaders from Mt Kenya region to discuss how to re-engineer the country’s economy.

Ruto said the meeting which was a follow-up to a similar forum held in Maasai Mara on May 1 deliberated on collaborative efforts to re-engineer government economic approach to one that promotes enterprise and fosters the empowerment of ordinary Kenyans.

“Through the ongoing consultations covering all regions and all sectors of the economy, we anticipate the generation of more jobs and expanded opportunities for those in the lower cadre will rid our country of poverty,” he tweeted.

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During an engagement with three representatives from each of the 11 counties from Mt Kenya region, it was agreed that more targeted and inclusive sessions should be held with Hustler Movement representatives, Members of the County Assemblies, religious and business leaders to follow as the country opens up.

The DP has been building the Hustler Movement, a political group championing for a bottom-up economic model, as his preferred platform for the 2022 presidential run.

At Maasai Mara, Ruto was accompanied by economist David Ndii who briefed the legislators on DP’s proposed ‘Bottom-Up Economic model’ which seeks to uplift the common citizen and provide them with an opportunity to have a say in government.

The DP on Friday held another meeting with over 50 individuals including a section of Mt Kenya where the politicians and experts from different sectors discussed economic revival, a subject Ruto has been propagating since the pandemic broke out in the country.

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Is Orengo charting his path away from Raila?

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History of intense rivalry between him and Opposition leader, alleged sabotage in 2013 and 2017 elections and talk of betrayal ahead of 2022.

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Police Deploy Chopper to Rescue Students Lost in Forest for 4 Days –

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Three students who went missing after a forest adventure in Mt Kenya, Karatina, Nyeri County, were finally rescued on Saturday after four days in the jungle.

Four days without food, the boys told members of the press that they survived by the grace of God.

17-year-old Anthony Muhoro, Jackson Karuri, 17, and David Mukoma Kinyua, 20, went missing on May 4.

Muhoro is a Form Three student at Gitunduti Secondary School, Karuri is also a Form Three but at Ihwagi Secondary School while Kinyua is a student at Nyeri National Polytechnic.

Also found alive were two dogs that were in the company of the three when they were reported missing.

Read: Missing Businesswoman Caroline Wanjiku Maina’s Body Found In A Kajiado Mortuary

The rescue team comprised of police officers who after four days of futile search deployed a National Police Service chopper to locate the students who were on the verge of despair.

In the Saturday search, the Nation reports, the officers teamed up with Kenya Wildlife Service and Kenya Forest Service rangers to comb the forest in search of the students.

In an interview with the local publication, Muhoro revealed that they were hiking when they lost their way back home.

“It was by the grace of God that we survived for four days without food and other necessities. We thought we were going to die and kept praying,” Muhoro said in a phone interview.

Read Also: Missing Thika Millionare Julius Gitau Found Alive – Police

“We literally groped in the dark after losing our way back home. We survived on water and wild fruits since we had not carried any food.”

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According to the student, the trio entered the forest through Ragati gate but couldn’t trace their way home hours later.

“We found ourselves deep into the dense woods. I don’t know how far it was from the edges of the forest but we were exhausted,” he said.

“We could not even tell the time since it was constantly dark. That is when panic set in.”

They could not communicate with anyone back at home as their mobile phones lost signals.

Read Also: Son To Murdered Kiambaa Family Reported Missing

“We started moving in the forest, literary going in circles in a desperate attempt to find our way out,” Muhoro said.

Days later as they moved around the forest with the hope of finding an exit, they ‘miraculously’ met some police officers and forest rangers who alerted the rest of the search team.

Mathira East Police Commander James Baraza, who led the operation, said the trio’s disappearance was reported at Karatina Police Station the same day they went missing and a search operation launched immediately.

Email your news TIPS to [email protected] or WhatsApp +254708677607. You can also find us on Telegram through www.t.me/kahawatungu

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