Was it something I said?
Of course today's action in Tilray is one of the biggest short squeezes I have ever seen -- that any of us have ever seen and it is very wrong, obviously, that its market cap is two-thirds the size of the entire sector.
But I have to tell you I do not for one moment think it is anything that Brendan said on Mad Money. Other than one comment about how he doesn't want to partner with Anheuser-Busch Inbev (BUD) he wants to be the next Anheuser Busch Inbev, there was NO boasting no hyperbolic claims.
He also was more than willing to repeat what he said in the prospectus for a stock that was at $17 not that long ago, that the company does need to raise money.
I asked him about why not raise money "now" three times and he was candid that he was keeping his opportunities open.
He made it clear, as with all the cannabis companies, that he wants Tilray to be a big enterprise covering medicinal and recreational opportunities. He was more modest than I was about those opportunities -- I have been using $500 billion as a number because that's what I heard multiple times when I was at the Green Market Report run by old friend Deb Borchardt last Friday, something he said that could be possible.
My main point is this: the public is way too infatuated with these companies, Tilray in particular, and I think a lot of money will be lost in this sector.
You must not blame Kennedy for this though. In fact, as I have made cannabis a specialty for Mad Money and for Real Money -- our keynoter for our upcoming conference is Canopy Growth (CGC) , which was the biggest until today -- I can tell you that the CEOs in the group are, on the whole, level-headed and not boastful and have not stoked what's happening. I think that this craziness -- and it is craziness -- is a product of retail overenthusiasm and short sellers who thought they were on to something.
No matter what, if I were running one of these companies I would be raising as much money as possible right now. You aren't going to be the next Anheuser Busch if you watch your stock go up like this and don't issue equity.