Why Tilray (TLRY) Shares Are Falling
Portfolio Pulse from Henry Khederian
Tilray Brands Inc (TLRY) shares are trading lower by 5% to $1.53, falling in sympathy with peer cannabis stock Canopy Growth Corporation (CGC) after the company reported worse-than-expected Q4 financial results. CGC reported losses of 24 cents per share and quarterly sales of $72.61 million, both missing analyst consensus estimates.
June 23, 2023 | 7:15 pm
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NEGATIVE IMPACT
Canopy Growth Corporation reported worse-than-expected Q4 financial results, with losses of 24 cents per share and quarterly sales of $72.61 million, both missing analyst consensus estimates.
Canopy Growth's worse-than-expected Q4 financial results are likely to negatively impact its stock price in the short term. The company reported losses of 24 cents per share and quarterly sales of $72.61 million, both missing analyst consensus estimates.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Tilray shares are down 5% to $1.53, falling in sympathy with Canopy Growth's worse-than-expected Q4 financial results.
Tilray's stock price is falling due to its close relationship with Canopy Growth, which reported worse-than-expected Q4 financial results. As a peer cannabis stock, TLRY is likely to be impacted by the negative sentiment surrounding CGC's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100