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Tilray Inc
Symbol TLRY
Shares Issued 446,156,841
Close 2022-01-14 C$ 8.60
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FP/wire say Tilray, Canopy continue to struggle

2022-01-17 09:31 ET - In the News

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

The Financial Post reports in its Saturday edition that Tilray fell for a third straight day on Friday, surrendering much of a rally posted earlier this week after earnings that were buoyed by acquisitions and a rebranding. A Bloomberg dispatch to the Post says that Canada's marijuana-market leader enjoyed a 14-per-cent surge on Monday, when it reported better-than-expected results and said it was repositioning itself as a global consumer packaged-goods "powerhouse." Demand for its cannabis brands, craft beer and hemp products boosted profits. Tilray has seen its stock collapse in the past year along with rival Canopy Growth and other Canadian cannabis licensed providers, known as LPs, amid domestic competition and the stalled move toward U.S. federal legalization of marijuana. "No one knows if those Canadian LPs will ever be able to come to the U.S., and even if they were allowed, they have a real uphill battle versus U.S. companies that already have licenses and complete businesses up and running on this side of the border," said Dan Ahrens, a portfolio manager at AdvisorShares in Bethesda, Md. "But at least Tilray -- and even Canopy to a lesser extent -- have inroads to the U.S. through acquisitions or partnerships."

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