The Volkswagen Tilray short-squeeze is becoming unbearable for pot bears, as a result of the minute moves in the stock, which moments ago soared to $300/share.
We will let readers catch up on the TLRy story, but what was remarkable is just how clinically TLRY tumbled the instant it hit a record high of $300, sending its market cap above $25billion, at which point the stock was halted on three occasions: once ruing the algo liquidation, the second during a furious ramp higher to catch up $230 to $266, and then again, shortly thereafter on another down move.
After the halts, the spread in the stock’s bid/ask was as high as several dollars as liquidity in the name appears to have completely disappeared. At this point the new momentum chasers are once again loading up, with hopes of sending the stock even higher, in a move that bitcoin fans recall not so fondly, largely due to what happens next…
