Shares of Tilray (TLRY - Free Report) closed sharply higher in Wednesday’s trading session, gaining 25.8% after reporting mixed fourth-quarter earnings results.
Today’s results are the first since Tilray merged with Aphria in May. GAAP earnings hit $0.18 per share, but revenue of $142.2 million fell slightly short of Street expectations. Free cash flow grew to $3.3 million compared to cash burn of $28.3 million in the year-ago quarter.
Other marijuana stocks like Canopy Growth (CGC - Free Report) , Cronos Group (CRON - Free Report) , Aurora Cannabis (ACB - Free Report) , and Hexo all rallied today as well.
Wednesday’s move higher comes after a down week last week for marijuana stocks. A barrage of negative headlines spooked investors as two competing legalization bills make their way through the U.S. House & Senate.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Shares of Tilray (TLRY - Free Report) closed sharply higher in Wednesday’s trading session, gaining 25.8% after reporting mixed fourth-quarter earnings results.
Today’s results are the first since Tilray merged with Aphria in May. GAAP earnings hit $0.18 per share, but revenue of $142.2 million fell slightly short of Street expectations. Free cash flow grew to $3.3 million compared to cash burn of $28.3 million in the year-ago quarter.
Other marijuana stocks like Canopy Growth (CGC - Free Report) , Cronos Group (CRON - Free Report) , Aurora Cannabis (ACB - Free Report) , and Hexo all rallied today as well.
Wednesday’s move higher comes after a down week last week for marijuana stocks. A barrage of negative headlines spooked investors as two competing legalization bills make their way through the U.S. House & Senate.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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