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 have...
By CCN: 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 the stock suffering declines of 28% year-to-date. A new cannabis ETF with the trading...
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 began trading on the Nasdaq on July 19, 2018. Under US Securities and...
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 Facility in New York Canopy Growth Corp now plans to spend up to $150...
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 Tampa Bay Lightning...
As Canada prepares to legalize recreational marijuana next month, the impact this will have on online drug marketplaces has remained unclear. Consequently, the Department of Public Safety Canada is looking to commission a study that will shed light on the cryptomarkets - online drug marketplaces that rely on the TOR browser and cryptocurrencies - with regards to the North American country and its...
The cryptocurrency markets are nine months into a bear market, but the animal spirits that drove the bitcoin price to nearly $20,000 haven’t disappeared. Rather, it seems that they have found a new outlet -- pot stocks. Pot Goes Boom as Crypto Goes Bust Long a favorite of retail traders on commission-free stock trading app Robinhood, publicly-listed cannabis stocks have gone bananas in recent...