Tilray Inc (TLRY) Stock Price and Forecast: Tilray jumps on strong earnings report
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UPGRADE- Tilray (TLRY) is due to report earnings before the open on Monday.
- Tilray (TLRY) stock is expected to post earnings per share of -$0.13.
- Tilray is also forecast to hit just over $239 million in revenue for Q2.
Update: Tilray (TLRY) stock is trading 13% higher in Monday's premarket as earnings came in well ahead of forecasts. Revenue jumped to $155 million and the company posted a net income of $6 million.
Tilray stock is still falling ahead of earnings before the bell on Monday. The cannabis stock has been on a long-term decline as a result of waning retail interest. Hitting a high of $67 early last year, Tilray closed Monday at $6.42. The stock had been caught up in the meme stock madness and duly suffered the fallout when the crowd moved on.
Tilray (TLRY) stock news
Tilray reports earnings before the open on Monday. Earnings per share (EPS) are expected to come in at -$0.13 while revenue is expected to be $239 million. Cantor Fitzgerald is forecasting more pain for shareholders saying ahead of earnings "Unless the company issues bullish forward commentary, we expect the stock to face pressure from the November quarter print." The opening up of cannabis markets and impending legalization has not seen the follow-through that many retail investors had hoped for. This has seen continued pressure on the stock price despite growing revenues. Revenue has grown from $47 million a year ago to the current $239 forecast. However, this has not seen a resulting profit with EPS remaining firmly in the red. The loss in quarter one increased markedly and this will need to be addressed.
Tilray (TLRY) stock forecast
The trend remains firmly bearish with old levels being targetted sub $5. $2.43 is the low from March 2020 and unless something changes this is where the chart is headed. A negative RSI and MACD coupled with a strong downtrend and reduced retail interest.
Tilray (TLRY) chart, daily
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- Tilray (TLRY) is due to report earnings before the open on Monday.
- Tilray (TLRY) stock is expected to post earnings per share of -$0.13.
- Tilray is also forecast to hit just over $239 million in revenue for Q2.
Update: Tilray (TLRY) stock is trading 13% higher in Monday's premarket as earnings came in well ahead of forecasts. Revenue jumped to $155 million and the company posted a net income of $6 million.
Tilray stock is still falling ahead of earnings before the bell on Monday. The cannabis stock has been on a long-term decline as a result of waning retail interest. Hitting a high of $67 early last year, Tilray closed Monday at $6.42. The stock had been caught up in the meme stock madness and duly suffered the fallout when the crowd moved on.
Tilray (TLRY) stock news
Tilray reports earnings before the open on Monday. Earnings per share (EPS) are expected to come in at -$0.13 while revenue is expected to be $239 million. Cantor Fitzgerald is forecasting more pain for shareholders saying ahead of earnings "Unless the company issues bullish forward commentary, we expect the stock to face pressure from the November quarter print." The opening up of cannabis markets and impending legalization has not seen the follow-through that many retail investors had hoped for. This has seen continued pressure on the stock price despite growing revenues. Revenue has grown from $47 million a year ago to the current $239 forecast. However, this has not seen a resulting profit with EPS remaining firmly in the red. The loss in quarter one increased markedly and this will need to be addressed.
Tilray (TLRY) stock forecast
The trend remains firmly bearish with old levels being targetted sub $5. $2.43 is the low from March 2020 and unless something changes this is where the chart is headed. A negative RSI and MACD coupled with a strong downtrend and reduced retail interest.
Tilray (TLRY) chart, daily
Like this article? Help us with some feedback by answering this survey:
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