Take a deep breath: If you want to short Tilray, you’ll pay 900% for the privilege

Tilray CEO Brendan Kennedy in New York on the company's listing on Nasdaq.Bloomberg file photo

The demand to short shares of the marijuana company Tilray Inc. is smoking hot.

The cost to finance a new short position in the cannabis company soared to as high as 900 per cent on Wednesday, data by financial analytics firm S3 Partners LLC show. The cannabis company trades at about US$81 a share, meaning it would cost nine times as much — $743.31 — to borrow the stock per year.

“Our desk can’t remember any rates higher than these,” Ihor Dusaniwsky, S3 Partners’ managing director of predictive analytics, said in a telephone interview.

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