Why Did Tilray Stock Drop? Tilray was among the first companies to go public amid Canada’s recreational cannabis legalization. Share prices skyrocketed as everyone rushed to own a legal piece of the cannabis industry, but the entire market tumbled in the aftermath of the legalized market.
Why did Tilray drop so much?
Shares of Tilray were down after the company reported a wider-than-expected net loss in the fourth quarter despite a beat in revenue.
Will Tilray stock go up again?
That means that it is possible for Tilray to reach $4 billion in 2024 if its trajectory continues as it has. In other words, it doubles in 2022 to reach $1 billion in revenue. That $1 doubles again in 2023, reaching $2 billion, and then again in 2024 to hit the stated $4 billion goal.Jan 4, 2022
Why is Tilray stock so low?
Tilray and other pot stocks on major U.S. exchanges are well down from last year. Competition in Canada, continued losses and executive missteps have kept share prices lower. The meme-stocks frenzy that drove some cannabis names higher last year has also faded.
Whats the highest Tilray stock has ever been?
Tilray Brands - Stock Price History | TLRYThe all-time high Tilray Brands stock closing price was 214.06 on September 19, 2018.The Tilray Brands 52-week high stock price is 31.34, which is 469.8% above the current share price.More items...
Should I sell my Tilray stock?
(TLRY-Q) Rating. Stockchase rating for Tilray Inc. is calculated according to the stock experts' signals. A high score means experts mostly recommend to buy the stock while a low score means experts mostly recommend to sell the stock.
What is the future for Tilray?
Tilray Brands Inc (NASDAQ:TLRY) The 16 analysts offering 12-month price forecasts for Tilray Brands Inc have a median target of 8.00, with a high estimate of 23.00 and a low estimate of 5.50. The median estimate represents a +39.62% increase from the last price of 5.73.
Who invested in Tilray?
Founded in 2014, Tilray was originally incorporated under the umbrella of Seattle-based Privateer Holdings and was one of Canada's first licensed producers. At the end of 2014, it secured the first institutional investment in the cannabis industry from Founders Fund, a San Francisco-based venture capital fund.
Is Aurora Cannabi stock a good buy?
So, should I buy Aurora Cannabis stock? Aurora Cannabis is a loss-making company struggling with tepid revenue growth and shareholder dilution. It's a high-risk bet even after losing 90% in market value in the last three years. There are far better growth stocks that you can buy right now.Dec 30, 2021
Is Tilray a buy?
Tilray (NASDAQ:TLRY) merged with Aphria in 2021, creating the world's largest cannabis company. As profound as that may sound, TLRY stock has crashed 80% over the past year.Mar 17, 2022
How many shares of Tilray are there?
Share StatisticsAvg Vol (3 month) 333.62MShares Outstanding 5497.71MImplied Shares Outstanding 6N/AFloat 8447.82M% Held by Insiders 13.81%7 more rows
Is Sundial growers a buy?
The price has been going up and down for this period, and there has been a -18.65% loss for the last 2 weeks....Predicted Opening Price for Sundial Growers Inc. of Thursday, April 21, 2022.Fair opening price April 21, 2022Current price$0.53$0.53 (Undervalued)
What was TLRY stock before?
Data last updated Apr 11, 2022 09:30 AM ET. This page will resume updating on Apr 12, 2022 04:00 AM ET....TLRY Pre-Market Quotes.Pre-Market High$6.48 (04:00:01 AM)Pre-Market Low$6.2 (09:30:01 AM)down3 more rows
Bad news for a rival pulled the Canadian marijuana producer down, too
Keith began writing for the Fool in 2012 and focuses primarily on healthcare investing topics. His background includes serving in management and consulting for the healthcare technology, health insurance, medical device, and pharmacy benefits management industries. Follow @keithspeights
What happened
Shares of Tilray ( NASDAQ:TLRY) were down 10.8% as of 3:41 p.m. EST on Thursday after dropping as much as 15.5% earlier in the day. The only news for the Canadian marijuana producer was the formation of an international advisory board to provide guidance on the company's global expansion strategy.
So what
Tilray's share price dropped even more than Aphria's did on the analyst downgrade -- at least for part of the day. You might wonder why. The reason Tilray stock responded so negatively is that its float is super-low.
Now what
Expect continued volatility for Canadian marijuana stocks, especially for Tilray. The long-term picture, though, still looks quite good with the Canadian recreational marijuana market in its infancy and medical cannabis markets expanding across the world.
How Tilray Stock Got Here
Tilray stock has been on fire recently due to what the market perceives as multiple operational tailwinds.
What the Fundamentals Say About Tilray
Tilray is now being valued at $20 billion. To put that in perspective, this company, which is slated to do $40 million in sales this year, has a market cap that is nearly twice as big as Macy’s (NYSE: M) and Nordstrom (NYSE: JWN ), both of which are projected to do more than $15 billion in sales this year.
Why Tilray Stock Could Head Higher
The fundamentals say that because of uncertainties and risks in the young and rapidly changing cannabis market, Tilray stock isn’t worth $20 billion today.
Bottom Line on TLRY Stock
The cannabis market will be huge. But, investing in Tilray stock at these elevated prices is playing with fire.