Cannabis Series / EP. 15 / Cannabis VS Cryptos
On September 19th, Tilray (TLRY) has seen a significant increase, going as far as 90%. The increase came after the company’s announcement that they are looking to partner up with pharmaceutical firms.
One day later, on September 20th, Tilray faced a drop of 19%, However, even after this drop, its market cap was still 200% bigger than it was in July.
Regarding to those sudden growth and drop, many have noticed that cannabis is acting quite similarly to cryptocurrencies.
Source
I believe that, they are similar to each other, Due to:
- High volatility.
- Swings being influenced by news and media.
- Support from millennials.
- Awakening interest in mainstream companies.
- Regulatory uncertainty.
- Alike and high levels of fraud.
Are you agree with me, that both of them have a lot in common! Writing a series means playing a long game,
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