It came as the famous owner of the Olive Garden and LongHorn Steakhouse restaurants beat first-quarter profit and sales expectations and raised its full-year outlook.
For its 2019 year, the company raised its guidance for EPS (earnings per share) from continuing operations to between US$5.52 and US$5.65 against US$5.40 and US$5.56 previously and for same-store sales to 2% to 2.5% from between 1% and 2.0%.
The company is now worth more than $20 billion and could become the next Amazon. https://t.co/KcrWnn7yAE— Vox (@voxdotcom) 20 September 2018
The stock and its investors had a roller-coaster ride yesterday and the Canada-based pot group was halted five times by the Nasdaq for volatility.
The shares finished the session up over 38% at US$214.06, which was its best day as a public company - it having surged 90% during the day.
In pre-market deals, the shares are up around 10% to stand at US$235.52.
Tilray also had a good run on Tuesday, after the U.S. Drug Enforcement Administration gave the company the go-ahead to import marijuana to the U.S. for medical research.
The recreational vehicle (RV) maker, which is in the midst of buying German RV maker Erwin Hyman Group SE, posted weaker than expected profit in its fourth quarter.
Net income came in at US$88.2mln, or US$1.67 a share, which was down from US$119.5mln, or US$2.26 a share a year earlier.
The consensus was for EPS (earnings per share) of US$2.03.
The downgrade by the research house came in response to the failure of a gas turbine in Texas that poses a drag on the company's power business.
Analysts expect the shares to have earned US$3.34 per share on revenue of US$8.25bn in its latest quarter. The company will release its earnings after the market close.
-- updated with new share price movement and fall in GE's stock --