As is the case in any industry, some companies are simply better than others. This logic holds true in the cannabis space, where only some companies boast ample capital and are backed by a strong management team, CNBC’s Jim Cramer said during his daily “Mad Money” show Thursday.
Other companies have simply become “too promotional for my taste,” he said.
Shares of Tilray Inc (NASDAQ: TLRY) briefly soared from $100 to $300 per share ahead of recreational legalization in Canada, Cramer said. Since then, the stock has drifted lower below the $50 per share mark. What went wrong?
When Tilray became a public company in the summer of 2018, CEO Brendan Kennedy …