TLRY waiting to Breakout IMHO the stock is held back from making major moves due to rampant daytrading on the shares. Fundamentals on this one justify better prices however we need to see more investors and these daytraders to move along elsewhere.
Prior to the merger of Aphria and Tilray merging the shares traded for hundreds of dollars. The charts do not show this as current charts only go back as far back as when the merger took place.
Much of the interest in this stock (in fairness the sector) came about when speculation was high that the US would be following Canada in legalizing Cannabis. IMHO the US is a when rather than an if for legalization and is likely going to progress prior to the US election.
The CEO noted no need to access additional funding at this time and has turned down offers from lenders. This is not to say it's not possible that they do raise however it sounds like this would only take place if Tilray sees another acquisition opportunity arise.
If you're not a seasoned investor willing to be patient on this one then please leave the shares alone and available for those who will buy / hold and wait for a breakout to form.
Best Regards
Q
- long on Tilray