108.74 -2.81 (-2.52%)
After hours: 7:55PM EST
|Bid||108.10 x 1100|
|Ask||108.30 x 1800|
|Day's Range||109.00 - 115.65|
|52 Week Range||20.10 - 300.00|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||147.33|
The chief executive of Tilray Inc. said the U.S. midterm election results, subsequent departure of Attorney General Jeff Sessions and a Senate farm bill have left him optimistic about future prospects for the cannabis industry in the U.S. Speaking on a conference call with analysts following the release of third quarter results, chief executive Brendan Kennedy pointed to several different results from last week’s midterm elections that he said are “positive signs” for the cannabis industry, including the defeat of Texas Congressman Pete Sessions.
Tilray’s $500 million in cash, its Nasdaq-listing and its global reach “gives us advantages to very quickly deploy capital in the U.S.” if Congress passes the farm bill, which would legalize non-intoxicating cannabidiol derived from hemp, Brendan Kennedy said Tuesday on the company’s third-quarter earnings call. Tilray would have an advantage over U.S.-based cannabis companies that are forced under current regulations to have operations for individual states, he said. “Companies such as ours would deploy massive amounts of capital in one single location or two single locations in one or two states and quickly move that product from state to state,” Kennedy said.
Check out the companies making headlines after the bell: Blue Apron APRN shares dropped as much as 5 percent during the extended session Tuesday after the meal-kit service announced it would take strategic actions to improve its profitability , including a 4 percent reduction of its workforce.
Tilray (TLRY) reported its quarterly earnings today after the market closed. Tilray reported a net loss of $18.7 million, which expanded from a net loss of $1.7 million in the corresponding quarter a year ago. On a per-share basis, Tilray’s EPS came in at -$0.2, down from $0.02.
Canadian cannabis producer Tilray Inc (NasdaqGS:TLRY - News) reported an 86 percent jump in third-quarter revenue on Tuesday, but a wider-than-expected loss weighed on shares in after-hours trading. Revenue rose to $10 million (13.24 million Canadian dollars) in the three months ended Sept. 30, the Nanaimo, British Columbia-based company said in a statement. Tilray's biggest expense was $11.2 million for stock-based compensation, according to its statement.
Tilray reported an adjusted loss per share of 8 cents, better than a loss of 12 cents expected by four analysts polled by Refinitiv. Total revenue came in at $10 million, an 85.8 percent increase over the last year. Tilray CEO Brendan Kennedy was quick to point out to in a CNBC interview Tuesday that this revenue was all tied to medical, not adult use.
Tilray beat views late Tuesday, while Cronos Group reported mixed results, but lower selling prices for cannabis products hit marijuana stocks.
NANAIMO, British Columbia-- -- Revenue rises 85.8% to $10.0 million in the third quarter and 78.9% to $27.6 million year-to-date Tilray medical cannabis products available to patients in 12 countries on five continents Signed agreements to supply adult-use cannabis to consumers in eight Canadian provinces and territories Completed successful $475.0 million Convertible Senior Notes offering in October ...
As buying marijuana becomes easier, so has investing in it. Here is a broad introduction to the biggest marijuana stocks trading in the U.S.
Investing.com - Marijuana company Cronos posted a loss Tuesday, turning investor sentiment on weed stocks hazy ahead of several names in the sector set to report earnings this week.
CORAL GABLES, FL / ACCESSWIRE / November 13, 2018 / Marijuana stocks have gotten even more popular following US midterm elections. This week, a number of cannabis stocks are slated to release earnings as well. According to Grand View Research, the global legal marijuana market is expected to reach $46.4 billion by end of 2025, according to a new report by Grand View Research, Inc. Growing adoption of marijuana in several medical applications such as cancer, mental disorders, chronic pain and others is expected to propel revenue growth in near future.
Aurora Cannabis’s (ACB) (ACBFF) revenue rose by 260% year-over-year to 29.6 million Canadian dollars in the first quarter, which ended on September 2018. It’s important to note that the revenue included sales from recreational cannabis for the first time along with medical cannabis.
Cronos Group (CRON) reported its quarterly earnings early this morning. The company reported sales of 3.7 million Canadian dollars, which beat analysts’ consensus estimate of 3.6 million Canadian dollars. Its sales for the quarter rose almost 186% YoY from 1.3 million Canadian dollars in the corresponding quarter of 2017.
Here is why Tilray Inc. (NASDAQ:TLRY) is one of two top marijuana stocks that look attractive for the buy-and-hold investors.
Yesterday, we took a brief look at Aurora Cannabis’s (ACB) (ACBFF) first-quarter earnings for fiscal 2019 in How Aurora Cannabis Fared in the First Quarter. Aurora Cannabis stock fell ~4.5% during the regular market session after the company released its earnings. When stocks decline after an earnings release, it usually means that the earnings didn’t live up to the expectations priced into the stock and that the market corrected the stock price to realign its expectations with the latest information.
U.S. stock futures traded solidly higher in the premarket Tuesday, helped by a strong quarter for retailer Home Depot and reports of renewed trade talks between the U.S. and China.
Cronos' (CRON) third-quarter results are likely benefit from the company's collaboration initiatives to become one of the most promising cannabis company.
Aurora Cannabis reported fiscal first-quarter earnings, its first since the Canadian marijuana producer listed on the NYSE last month.
For now, that only includes dried flower, capsules and sprays, but the Canadian government said it would expand that to include edibles and concentrates like vape pens within a year. Justin Trudeau’s Liberal government will probably act sooner, before next year’s federal election, said Cam Battley, chief corporate officer at Aurora. “I suspect we’ll see regulations allowing for at least some of those products and maybe all of those products coming sooner than a year from now,” Battley said on the company’s fiscal first-quarter earnings call Monday.
Aurora Cannabis (ACB) (ACB-NYSE) reported its Q1 2019 earnings early today. The company reported revenue of 29.6 million Canadian dollars, which missed the consensus analyst estimate of 39.52 million Canadian dollars. However, its revenues grew by about 260% YoY from 8.3 million Canadian dollars in the corresponding quarter last year. The below chart shows analysts’ estimates for companies expected to report later this week.
Cannabis companies (HMMJ) are expected to report impressive YoY revenue growth in the most recent quarter. Aurora Cannabis (ACB) and Canopy Growth (WEED) are expected to record sales growth in excess of 330% each. But how does this translate into margins?