NEW YORK, NY / ACCESSWIRE / September 25, 2018 / While one marijuana stock saw big gains on Monday another one came crashing down. Tilray saw big losses again on Monday despite a positive announcement. Shares of Intrexon Corporation gained almost 32% at the close yesterday on its own positive development.
RDI Initiates Coverage on:
Intrexon Corporation shares were exploding on Monday, closing the day up nearly 32% on higher volume than usual. The stock traded nearly 20 million shares in comparison to an average trading volume of just around 1 million shares. The company announced advances in the development of its microbial platform to produce cannabinoids for medical uses. Through the company's proprietary technologies, it has engineered a yeast strain to produce low-cost, robust and consistent cannabinoid outputs via fermentation. "As with some of our other similar projects, in thebaine, for example, microbial fermentation routes to produce cannabinoids provide advantages over traditional plant-based extraction," said Chris Savile, PhD, Executive Director, Commercial Operations. "Through our capabilities and experience, we expect to optimize strains to produce specific cannabinoids that may be commercialized in the coming years."
Access RDI’s Intrexon Corporation Research Report at:
Tilray, Inc. shares were down a little over 19% on Monday, retracing yet again after a colossal trading week last week until Wednesday. The company became the highest valued marijuana company last week as a result of its rally but since Wednesday, has lost half of its market cap. The drop may be a result of a short squeeze coming to an end. Tilray had seen gains of 228% this month prior to shares retracing last week with several positive developments this month. In separate news, the company had another positive development, with the global pioneer in cannabis production and distribution announcing that it has successfully exported medical cannabis from Canada to Australia to distribute to critically ill children. The company will distribute its CBD 100 product to three hospitals in the state of Victoria via its wholly-owned subsidiary Tilray Australia New Zealand Pty Ltd. According to the press release, the products are being supplied to Royal Children’s Hospital, Monash Children’s Hospital and Austin Health with support from the Government of Victoria’s Department of Health and Human Services, Victoria (DHHS), where they will be distributed to children suffering from intractable epilepsy.
Access RDI’s Tilray, Inc. Research Report at:
Research Driven Investing
We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.
RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.
Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.
For any questions, inquiries, or comments reach out to us directly at:
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.