Early on April 15, Aphria (APHA) released its third-quarter earnings, which missed the expectations. The company’s losses widened to 108 million Canadian dollars due to a write-off charge from its recently acquired businesses in Latin America. As of 11:45 AM EST, Aphria was trading almost 12.5% lower.
Sign up for Bagels & Stox, our witty take on the top market and investment news, straight to your inbox! Whether you’re a serious investor or just want to be informed, Bagels & Stox will be your favorite email.
Aphria’s results appear to have dampened investors’ (HMMJ) sentiments even more. Due to the disappointing earnings, investors are contemplating whether the stock price expectations were too optimistic.
Tilray (TLRY) continued to fall on April 15. Tilray stock lost another 6.2% as of 12:00 PM EST. Tilray has been on a declining trend since March 20 and the end isn’t in sight. The stock has lost almost 33% during this period. Cronos Group (CRON) fell 6.8%. The stock has lost almost 15.8% since the beginning of April. Earlier in April, Market Realist flagged the valuation as a concern for both these stocks.
CannTrust (CTST) fell ~5.4%. CannTrust’s sell-off was driven by its disappointing earnings. CannTrust has lost ~25% since it reported its earnings on March 28.