Cannabis Stocks Rise After Tilray Reports Q4 Profit 02:40 PM EDT, 07/28/2021 (MT Newswires) -- Cannabis stocks were gaining in Wednesday afternoon trading after Tilray (TLRY) unexpectedly swung to positive fiscal Q4 earnings.
Tilray posted fiscal Q4 net income of US$0.18 per share, versus a net loss of US$0.39 per share in the same period a year ago. The consensus was for a loss of $0.11 per share. Net revenue rose 25% annually to US$142.2 million in the quarter ended May 31, 2020.
The cannabis company's shares climbed 25% in afternoon trading.
Sundial Growers (SNDL) was up 7.3%, OrganiGram Holdings (OGI) added 8.5%, Aurora Cannabis (ACB) rose 6.4%, Canopy Growth Corp. (CGC) gained 5.6%, Cronos Group (CRON) jumped 6% and HEXO (HEXO) and Greenlane Holdings (GNLN) both increased 5.8% each in recent afternoon trading.
Note: Vibe was down 3.4% on weak volume. Must be that seasonality effect again. lol