Why 398% Profits Are Just the Start for This “World-Beating” Pot Stock

There are many recipes for a soaring stock price.

Here’s one I like a lot…

1. A company that taps into previously prohibited yet well-established markets

2. Excellent leadership skills

3. A killer execution strategy

And that’s precisely what we’ve been seeing with a firm I mentioned most recently back in mid-July.

At that time, I told you how this Canadian company became the world’s first seed-to-sale cannabis outfit ever to make its initial public offering on a major U.S. stock exchange.

During its IPO, the company raised about $164 million, which it’s plowing directly into building out its cannabis cultivation and processing capacity, among other projects.

And it just secured an important new “gig” that sent its shares soaring as high as 32% yesterday…

This Company Started Strong… and Got Much, Much Stronger

Tilray Inc. (NASDAQ: TLRY), has been tearing up the markets pretty much ever since its summer debut.

I’m not the least bit surprised.

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Though it got a late start in the IPO game, Tilray has a long history of being a “first mover” in the legal marijuana market. In fact, it was the first cannabis company to distribute its marijuana at home and abroad.

And since its debut on the Nasdaq July 19, Tilray’s stock price has advanced a staggering 398%.

To be blunt, this is the kind of explosive performance you might expect from a tiny, volatile micro cap, but Tilray is a very well established, New York–listed company sporting a $13.8 billion market cap.

In the second quarter, Tilray reported 95.2% revenue growth, to $9.7 million.

Now, while this revenue growth represents just the start as a public company for this cannabis pioneer, it also points to two major upcoming catalysts.

Let me explain…

See, in a statement about its latest earnings figures, Tilray said its revenue surge in recent months can be attributed partly to increased patient demand for medical marijuana in its home market. And that demand is only going to expand as medical marijuana gains wider acceptance.

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But there’s much more going on with this cannabis producer. The firm also sells its products into 12 countries on five continents. It recently completed export agreements in Argentina, South Africa, and the United Kingdom.

And now it looks like Tilray is coming to another important world weed market: the United States.

Yes, you read that right.

Tilray Could Be the Pot Stock That Conquers the World

Yesterday, shares of Tilray went positively stratospheric when the company announced it had secured approval from the U.S. Drug Enforcement Administration (DEA) to import marijuana into the United States for medical research.

Now, the approval, under the terms of which Tilray will supply marijuana to the University of San Diego Center for Medicinal Cannabis Research, isn’t quite an export agreement, but it is extremely significant.

That’s because the DEA has long been resistant to the idea that marijuana has any medicinal potential at all. After all, at the federal level, cannabis is still a Schedule 1 drug, in the same class as heroin or LSD.

It’s early yet – and it’s important we don’t read too much into the DEA’s position – but this could mean the nation’s drug cops are serious about their stated goal of “doing more” to assist American researchers with almost painfully limited access to cannabis for study.

Investors are enthusiastic about the prospects, to put it mildly.

I am, too. Because as insanely profitable as Tilray’s been for us, even bigger things could be in store.

Tilray is also at the forefront of the medical cannabis industry, boasting a stable of cannabidiol-based products for patients suffering from chronic pain, arthritis, nausea, and other maladies.

That puts it in a prime position to take on the $57 billion international market Arcview Market Research expects by 2027.

Tilray could realize multiples of its current gains by then – and you want to make sure you’re along for the ride.

CLICK TO WATCH: Critical Briefing on the New Marijuana Millionaires Law

A critical update to cannabis legislation is going into effect in a matter of days.

When it does, it will open the door for tens of billions of dollars to pour into the sector…

… and folks who take the opportunity seriously could easily become the next generation of this nation’s millionaires.

That’s why Money Morning‘s executive publisher is inviting you to view an urgent briefing right now to get all the critical details.

Click here to watch the briefing now.

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