The Globe and Mail reports in its Friday edition that Tilray's wild ride continued Thursday, with the stock down $37.71 at $176.35 after briefly trading at $300 Wednesday (all figures U.S.). The Globe's Andrew Willis and Christina Pellegrini write that part of that volatility is being blamed on Tilray's thin "float" of only around 10 million free-trading shares. Some investors short sold other cannabis stocks, so any losses on positions in Tilray and other locked-up holdings would be offset by gains on stocks that declined in price. Or they used strategies that involved the options market to limit risk. These strategies blew up because shares in every large cannabis company are soaring, leading to significant losses on short positions and certain options-based strategies. In recent days, a number of prime brokerages, which offer trading for hedge funds, took steps to cover losses on their clients' cannabis investments, buying shares to close short positions or selling their clients' remaining cannabis holdings to cover losses. Also, Tilray was actively short sold going into this week. The scramble to close these positions in the face of significant losses contributed to the recent spike in the stock price.