Roth Analyst Who Warned Tilray Could be "Volatile" at $59 Has "Left His Job"

Marijuana stock Tilray has dominated the media over the last week, making early investors (read: anyone who bought it more than a month ago) boatloads of cash. The stock skyrocketed from about $25 per share in mid August and touched highs of $300, before paring gains and finishing the Thursday session around $172.

But it appears that not everybody benefited from the spike higher in the name. Analyst Charles Finnie from Roth Capital Partners, who tried to warn the investing public that Tilray looked "increasingly speculative" at $59 - after the stock had more than doubled - has now reportedly "left his job" after making said call.

He left the company on September 5, a day when the stock closed at $89. 

After he pulled his "Buy" rating on the name on August 30, TLRY was up 45% over the next five days. From there, it went on to nearly double again.

Finnie tried to warn investors about the company's limited float and how it could cause volatility. He was right about the volatility – except it came to the upside, not the downside - with the stock tacking on nearly $240 in value per share at one point after he issued his note.

Not only was Finnie right about the volatility, he was dead on. In fact, trading in Tilray on Wednesday was so volatile that the stock was halted 5 times.

During this time, we reported that investors in Tilray like Peter Thiel had made a killing on the name. Thiel was invested in TLRY through Tilray CEO Brendan Kennedy’s Privateer Holdings, which holds more than 58 million of the total 76 million shares outstanding. Their stake is now valued somewhere near $10 billion thanks to the stock's "volatility". 

Despite the interesting timing behind Finnie leaving the firm, Roth Capital claims that he chose to leave. Jeff Martin, Roth Capital’s director of research told Bloomberg that he left "on his own accord" and that plans to replace him "haven't been finalized". 

Perhaps Finnie just didn’t know the rules that every other analyst on Wall Street seems to live by in today's market environment: don’t try to warn investors when their capital could be at risk, otherwise they could miss the mania and you might be out of a job. Even if you wind up being right, in principle, about your analysis. 

Now, if only everyone on the street had to leave "on their own accord" after missing a call...