Cannabis stocks fell with the broader market Friday, after Jefferies started coverage of Tilray Inc. with a bearish underperform rating and questions about the stock’s high valuation. Tilray Inc. shares TLRY, -2.01% fell 7% before paring those losses to trade down about 2%. “We appreciate it is well placed in medical but future value here will be driven by IP for which (there is) little visibility near term,” Jefferies analyst Owen Bennett wrote in a note.
