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Tilray Inc
Symbol TLRY
Shares Issued 446,156,841
Close 2021-09-14 C$ 14.90
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Globe says it's hard times for Canopy Growth, rivals

2021-09-15 07:11 ET - In the News

See In the News (C-WEED) Canopy Growth Corp

The Globe and Mail reports in its Wednesday, Sept. 15, edition that growth stocks caught fire at the start of the year, and cannabis stocks were lumped in, helping to salvage some credibility after a disastrous 2020. The Globe's Tim Kiladze writes that seven months later, many growth stocks have since sold off. Overzealous investor expectations are also playing a significant role again, and hopes of federal legalization of marijuana in the United States are dissipating, leaving investors staring at many more quarters of red ink. Although Democrats have proposed legislation for cannabis reform now that Joe Biden is in the White House, the meticulous plans they have tabled are likely to get bogged down in the legislative process. There are also fears that the Democrats could lose control of the U.S. House of Representatives or the Senate in 2022, which could make it even harder to pass the proposed legislation. The U.S. itself is not a wasteland for cannabis companies. In fact, some of the American multistate operators are seeing encouraging sales growth. Trulieve Cannabis, which predominantly operates in Florida, is one of the sector's profitable companies, making it a rarity.

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