The New York Post reports:
Big pot has finally achieved big market cap. Shares of Peter Thiel-backed marijuana grower Tilray soared more than 60 percent on Wednesday, hitting a market value of $22.8 billion, as bullish comments from the company’s chief executive stoked Wall Street’s growing euphoria over the budding business of legalized marijuana.
Shares of the Canada-based weed farmer — which are now up 10-fold from their debut on the Nasdaq in July — now boast a bigger market capitalization than Clorox, American Airlines and CBS. They’re also worth more than Twitter, which has a market cap of $21.9 billion.
Thiel, the libertarian tech tycoon who backed Donald Trump in 2016, is rolling in the green thanks to Tilray’s runup. His pot-focused private equity fund Privateer Holdings owns 76 percent of Tilray’s stock — making the fund’s stake worth roughly $15 billion.