uploads///herb _

Tilray Back in the Negative, Reverses Positive Trend after Earnings

By

Updated

Tilray back in the negative

Tilray (TLRY) reported its earnings yesterday with a better-than-expected top line. However, the stock reported a Q1 2019 loss per share of $0.32, which missed estimates of a $0.24 loss per share. While the stock popped about 4% after earnings, it reversed its trend and was back in negative territory today with a decline of 5% in the first half of the day.

Article continues below advertisement

How about ACB?

Aurora Cannabis (ACB), which also reported its earnings yesterday after the market closed, was in the green with a gain of about 0.7%. Aurora Cannabis (ACB) reported a loss per share of $0.16, which missed analysts’ estimate of a loss per share of $0.06.

The Horizons Marijuana Life Sciences ETF (HMMJ) was trading slightly lower, down 0.35%, indicating that the market was struggling to find a direction after these two companies reported their earnings.

Stocks that were also trading in the red include Green Thumb Industries (GTBIF), which was down 3.3% while Supreme Cannabis (SPRWF) lost nearly 2.7%. Aphria (APHA), Canopy Growth (WEED), and Cronos Group (CRON) were all trading in the negative territory, losing about 1%, 09%, and 0.8% around midday.

Advertisement

More From Market Realist