Watching Tilray Brands; Kerrisdale Capital Says "We're short $TLRY. Tilray is a $2.4B mkt cap structurally unprofitable Canadian cannabis player diluting shareholders into oblivion (1/9)"; "Our Price Target Is $0.90"
Portfolio Pulse from Benzinga Newsdesk
Kerrisdale Capital has announced that it is shorting Tilray Brands, a Canadian cannabis company with a market cap of $2.4 billion. Kerrisdale criticizes Tilray for being structurally unprofitable and diluting shareholders. The firm also notes that recent spikes in Tilray's share price are based on misplaced hopes over marijuana rescheduling in the U.S., which would not benefit Tilray as it has no plant-touching operations in the U.S.
September 18, 2023 | 2:02 pm
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Kerrisdale Capital's short position and criticism of Tilray's business model could negatively impact the company's stock price in the short term. The firm's assertion that Tilray will not benefit from potential U.S. marijuana rescheduling could also dampen investor sentiment.
Kerrisdale Capital's announcement of a short position on Tilray Brands is a direct negative sentiment towards the company. This, coupled with the firm's criticism of Tilray's business model and its assertion that potential U.S. marijuana rescheduling will not benefit the company, could lead to a decrease in investor confidence and a potential drop in Tilray's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100