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.
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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.