Cannabis Short Sellers Now Down $473M In 2020 Following Tilray-Aphria Merger

After a brutal start to the year for cannabis investors, the ETF MANAGERS TR/TIERRA XP LATIN AME (NYSE: MJ) has rallied 36% in the past three months, propelled in large part by bullish U.S. election results in November.

This week, shares of Tilray Inc (NASDAQ: TLRY) rallied after the company announced a merger with Canadian competitor Aphria Inc (NASDAQ: APHA).

The Numbers: Short sellers have aggressively piled into cannabis stocks in the past nine months, with cannabis stock short interest up about $1.15 billion to $2.81 billion since late March. The only good news for cannabis short sellers since March is that average stock borrow fees in the space have dropped from 30.3% to just 5%, according to S3 Partners analyst Ihor Dusaniwsky.

As of this week, Green Organic Dutchman Holdings Ltd (OTC: TGODF) is the most expensive cannabis stock to short …

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More Cannabis Short Sellers Now Down $473M In 2020 Following Tilray-Aphria Merger