Canadian-based Tilray (TLRY) is up 1,232% since it IPOed two months ago on July 18th.

Wait, say that again!? Yes, TLRY is up more than 1,200% since going public just two months ago!

What does TLRY do? It’s a cannabis drug-maker, of course.

As the cannabis wave has swelled, Tilray’s massive gain over the last two months has left it with a market cap of $21.5 billion (USD). As shown below, this ranks Tilray as the 24th largest publicly traded company based in Canada. At $21.5 billion, TLRY’s market cap is now a billion dollars larger than Lululemon (LULU), which is one of the most well-known consumer brands based on Canada.

We have no comment on how or when this insane rally will end, except we’re confident that plenty of investors will end up losing their shirts.