Tilray’s stock has fallen nearly 15% since yesterday when they reported larger-than-expected second-quarter losses after the market closed. Overall, the company’s net loss increased to $35.11 million, or 32 cents a share. Slumping Cannabis Industry Cannabis-related stocks have been steadily dropping over the past few months. Major companies like Aurora Cannabis, Canntrust, and Canopy Growth … Read more
By CCN.com: The bigger they are, the harder they fall. This has certainly been the case for cannabis stock Tilray, which was all the rage in 2018 but has had the wind knocked out of it lately. Tilray’s stock has shed approximately one-fifth of its value in April alone. The longer-term performance is worse, with … Read more
Tilray’s share price plummeted today on the expiry of its IPO lock-up period. But is the sell-off investors exiting cannabis stocks? Or, is it as simple as Tilray “insiders” cashing in their profits? Tilray’s stock lost 17.24% by the end of trading on the Nasdaq today, wiping out recent day’s gains. With its IPO, Tilray … Read more
Canadian cannabis company Canopy Growth has been granted a license to produce and process hemp in New York. This quickly following the US farm bill, which legalized the production of hemp in the US. Canopy shares are rising on the Nasdaq and inspiring rallies in other so-called “pot stocks.” Canopy Growth to Open $150 Million … Read more
Renowned hedge fund manager Jeffrey Vinik has dismissed the pot stock craze, describing cannabis investment as overrated and likely to suffer from squeezed margins. Speaking on CNBC’s Squawk Box on January 10, Vinik also revealed that bitcoin currently accounts for “zero percent” of his investment portfolio. Returning to the hedge fund scene after a five-year hiatus, the … Read more