Tilray, the Canadian pot supplier that is majority-owned by Seattle’s Privateer Holdings, this past week soared to new levels that made it one of the year’s fastest rising IPOs.

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The IPO news from the Pacific Northwest last year was about an epic fumble: “the worst first-day return for an IPO in 17 years,” according to one analysis.

Now another initial public offering from the region is making headlines, but in the opposite direction.

Tilray, the Canadian pot supplier that is majority-owned by Seattle’s Privateer Holdings, this past week soared to new levels that made it one of the year’s fastest rising IPOs.

Indeed, before a late-week retreat, Bloomberg News reported that as of Wednesday, Tilray had “surpassed nearly 200 other companies to become the year’s best performing initial public offering on U.S. exchanges.”

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“Among companies worth at least $1 billion at their IPO, you’d have to go back to 2015 to find a new issue with better performance than Tilray,” Bloomberg added.

Tilray’s midweek peak took it to a 447 percent gain from its $17 IPO price in July, when it became the first pot company to successfully complete an initial public offering on a U.S. exchange.

The stock’s surge started with a 32 percent leap on the first trading day. It’s been driven ever higher by enthusiasm for Canada’s pot sector among investors amid signs that big consumer-products companies are tiptoeing into the marijuana business through investment and distribution deals.

The company’s stock fell about 15 percent from its Wednesday high after analysts voiced concerns that its rocketing market capitalization of more than $8 billion overvalued the unprofitable company, which last quarter had revenue below $10 million.

That may have sent it slipping down past one or two other IPOs in the top-performance derby.

At anything near its current valuation, though, the company is a huge moneymaker for Privateer, which has an 80 percent stake.

Last year’s headlines concerned Funko, the Everett-based marketer of pop culture figurines. Those who recall its IPO meltdown — the stock fell 41 percent when it began trading last November, after going public at a discount from its expected price — may not have looked at the company since.

But Funko has bounced back in respectable fashion. On Friday it closed just below $29 — more than double its IPO price of $12 and quadruple its closing price of $7.07 on that first disastrous day.

— Rami Grunbaum: rgrunbaum@seattletimes.com