September 6, 2018 / 2:16 PM / 18 days ago

BUZZ-Tilray: Taking a breather on Northland Capital rating cut

** Tilray shares down ~11 pct after Northland Capital downgrades the medical marijuana co to “market perform” from “outperform”

** Analyst Mike Grondahl “loves the company,” but says stock’s massive spike has made the risk/reward “far more balanced at this time”

** TLRY shares have surged nearly 430 pct since IPO on July 19

** Stock jumped 195 pct in Aug alone on hopes of a “white knight”, strong results and moves to expand its presence

** After recent euphoria, other cannabis stocks also lower: Cronos Group down ~9 pct, Canopy Growth down ~6 pct, Aphria off ~1 pct

** Hexo, though, gaining ~7 pct on activist investor Riposte Capital’s push to explore strategic alternatives (Reporting by Savio D’Souza)

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