GREY:SNNVF - Post Discussion
Post by
sunrize on Aug 16, 2019 7:15pm
Falling pot prices in Canada
Look what happened to Tilray:
Tilray could be heading to $4
High-flying marijuana stock Tilray plunged 11% after an analyst issued a scathing research report in the wake of the company's disappointing second-quarter earnings release earlier this week. Vertical Group analyst Gordon Johnson put out a note arguing that investors should short Tilray. Johnson assigned a price target of just $4, representing nearly 90% downside from Thursday's close, while reiterating a sell rating. Falling pot prices in Canada may hurt gross margins, and Tilray could potentially run out of cash in the first half of 2020, according to Johnson's estimates. The analyst described Tilray's second-quarter results as "an unmitigated disaster."
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