TLRY Stock News: Tilray Inc looks to bounce back from last week’s massive sell-off
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CLAIM OFFER- NASDAQ:TLRY dropped by a further 9.83% on Friday to close out a devastating week for the stock.
- A glaring analyst warning and downgrade has scared retail investors off of the stock.
- Tilray’s upcoming earnings call should shed some light on its reported merger with Aphria.
NASDAQ:TLRY investors experienced the whole spectrum of emotions as the Canadian cannabis giant skyrocketed to a 52-week high of $67.00 on Wednesday before rapidly deflating to finish the week at $29.00. The three-day drop represented 56% drop in the stock’s value and the sudden surge has dramatically placed the 50-day and 200-day moving averages out of sorts. Until the recent spike in price, Tilray had been trading in the low single digits for the better part of 2020 and hadn’t seen double digits since before the market crash in March.
One of the catalysts for Tilray’s sudden plunge was the harsh assessment by GLJ Research analyst Gordon Johnson. Regarding Tilray’s prospects, Johnson was not shy about his negative outlook stating that a $0 price forecast is very much a realistic outcome in the short-term. Johnson called Tilray’s future past 2022 “dismal”, and encouraged investors to sell their shares as quickly as possible. Johnson’s harsh analysis of Tilray added to the downward momentum the stock was already experiencing since Wednesday.
TLRY stock chart
It’s not all negative news for Tilray, as its upcoming merger with Aphria (NASDAQ:APHA) should help to stave off any sort of imminent danger of bankruptcy. Tilray has also continued to advance its reach across Europe, with recent deals to supply medical marijuana to Portugal and the United Kingdom, more markets should be on the way in the near future. Despite all of these prospects, it is often difficult for investors to ignore a negative forecast like the one that was provided by Johnson, so shareholders may continue to experience short-term pain, at least until Tilray’s earnings call on February 17th.
- NASDAQ:TLRY dropped by a further 9.83% on Friday to close out a devastating week for the stock.
- A glaring analyst warning and downgrade has scared retail investors off of the stock.
- Tilray’s upcoming earnings call should shed some light on its reported merger with Aphria.
NASDAQ:TLRY investors experienced the whole spectrum of emotions as the Canadian cannabis giant skyrocketed to a 52-week high of $67.00 on Wednesday before rapidly deflating to finish the week at $29.00. The three-day drop represented 56% drop in the stock’s value and the sudden surge has dramatically placed the 50-day and 200-day moving averages out of sorts. Until the recent spike in price, Tilray had been trading in the low single digits for the better part of 2020 and hadn’t seen double digits since before the market crash in March.
One of the catalysts for Tilray’s sudden plunge was the harsh assessment by GLJ Research analyst Gordon Johnson. Regarding Tilray’s prospects, Johnson was not shy about his negative outlook stating that a $0 price forecast is very much a realistic outcome in the short-term. Johnson called Tilray’s future past 2022 “dismal”, and encouraged investors to sell their shares as quickly as possible. Johnson’s harsh analysis of Tilray added to the downward momentum the stock was already experiencing since Wednesday.
TLRY stock chart
It’s not all negative news for Tilray, as its upcoming merger with Aphria (NASDAQ:APHA) should help to stave off any sort of imminent danger of bankruptcy. Tilray has also continued to advance its reach across Europe, with recent deals to supply medical marijuana to Portugal and the United Kingdom, more markets should be on the way in the near future. Despite all of these prospects, it is often difficult for investors to ignore a negative forecast like the one that was provided by Johnson, so shareholders may continue to experience short-term pain, at least until Tilray’s earnings call on February 17th.
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