February 21, 2021

Tilray

Tilray stock loses steam as analysts say company not compelling as stand-alone business, look to Aphria deal

Tilray Inc. shares fell on Thursday, as analysts weighed in on the company’s latest quarterly earnings with most looking ahead to the company’s pending merger with Aphria Inc., saying Tilray looks less compelling on its own.

Tilray
TLRY,
+7.79%
reported a loss of $3 million, or 2 cents a share, after reporting losses of more than $200 million in the same quarter a year ago. Revenue came to $56.6 million, or $50.7 million when accounting for excise taxes, after $46.9 million a year ago, or $42.5 million after excise taxes. Analysts on average predicted a loss of 14 cents a

Read More

Tilray, Zillow, Sonos, Zynga and more

Andrew Harrer | Bloomberg | Getty Images

Check out the companies making headlines in midday trading.

Tilray, Canopy Growth, Aphria, Aurora Cannabis — Several cannabis stocks dropped Thursday, giving up some of the sharp gains from earlier this week as Reddit traders piled into the names. Shares of Tilray fell more than 49% after rallying 50% on Wednesday. Canopy Growth lost 22.8%, Aphria dropped 35.8% and Aurora Cannabis sunk 23.5%.

Bank of New York Mellon — Shares of BNY Mellon rose 0.9% after it announced that it will begin financing bitcoin and other digital currencies. The announcement represents a significant

Read More