Tilray Stock Is Trading Higher Tuesday: Here's Why
Portfolio Pulse from Adam Eckert
Tilray Brands Inc (NASDAQ:TLRY) shares are trading higher after the company reported better-than-expected financial results for the fourth quarter. The company achieved a Q4 revenue of $229.882 million and an EPS of 4 cents, both surpassing estimates. Tilray saw significant growth in its cannabis and beverage-alcohol segments, while also reducing its net convertible debt by about $300 million. Despite the positive results, Zuanic & Associates maintained a Neutral rating on the stock.
July 30, 2024 | 1:17 pm
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Tilray Brands Inc reported strong Q4 financial results, with revenue and EPS surpassing estimates. The company saw significant growth in its cannabis and beverage-alcohol segments and reduced its net convertible debt by about $300 million. Despite the positive results, Zuanic & Associates maintained a Neutral rating on the stock.
Tilray's better-than-expected financial results, including a significant increase in revenue and EPS, are likely to positively impact the stock price in the short term. The growth in key segments and reduction in debt further strengthen the company's financial position. However, the Neutral rating from Zuanic & Associates may temper some of the enthusiasm.
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IMPORTANCE 90
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