ETFMG ALTERNATIVE HARVEST ETF logo

MJ - ETFMG ALTERNATIVE HARVEST ETF News Story

$12.66 -0.3  -2.2%

Sector
Size
Market Cap £n/a
Enterprise Value £n/a
Revenue £n/a
Position in Universe th / 6400

BUZZ-Tilray on a round trip

Thu 10th October, 2019 8:42pm
** Tilray  TLRY.O  shares falling sharply on Thurs after
cannabis maker Hexo Corp  HEXO.N   HEXO.TO  withdraws its 2020
forecast and drags peers lower  urn:newsml:reuters.com:*:nL3N26V3OD
    ** TLRY recently down 12.2% to $20.95 and now about $4 above
its $17 Jul 2018 IPO price. This after stock soared to as high
as $300 just 2 mths after its debut
    ** Pot stocks have been under pressure and short sellers are
raising their bets against the industry as profits dwindle
 urn:newsml:reuters.com:*:nL2N26N0R8
    ** Meanwhile, last Thurs CEO Brendan Kennedy disclosed a
sale of 18,461 shares (~$450 mln worth) at $24.18 on Oct 1
 urn:newsml:reuters.com:*:nEOL4twPGz
    ** A month ago, Tilray filed to sell $400 mln of stock
through an "at the market offering" (ATM) agreement with Cowen
 urn:newsml:reuters.com:*:nL2N2620GI
    ** Per Refinitiv, avg rating among 18 brokerages covering
TLRY is "hold"; median PT is $52, or 150% above recent levels
    ** Stock has fallen 70% YTD
    ** Other weed cos dropping Thurs: Sundial Growers  SNDL.O 
~15%, Apria Inc  APHA.N  ~14%, Canopy Growth  CGC.N  10%, Aurora
Cannabis  ACB.N  7.5%

 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 646-223-5017))
© Stockopedia 2020, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.