Tilray Brands Inc TLRY

Simple Simon says

[Keeler]

Tilray CEO ‘frustrated’ with pace of U.S. cannabis legalization, reports Q2 loss

  

January 9, 2023  

 

Exporting & Importing Manufacturing OperationsRegulation Risk & Compliance Sales & MarketingAlcohol & Cannabis Food & Beverage

 

The cannabis company, which keeps its books in U.S. dollars, said the loss amounted to 11 cents per diluted share for the three months ended Nov. 30.

Tilray Brands Inc. reported a second-quarter net loss of US$61.6 million in its most recent quarter as it temporarily slowed cannabis production because of the “longer-than-anticipated march toward legalization” in some markets.

Among the markets whose timing is hampering the Leamington, Ont. pot company is the U.S., where its chief executive said, “we do not expect (legalization) to happen at any time in the near future.”

“In the U.S., participation in the adult-use cannabis market has always been very important to us and integral to our long-term strategy,” Irwin Simon told analysts on a call on Jan. 9.

“However, as long as cannabis remains federally illegal in the U.S. we will not engage directly in business that touch the cannabis plant to fully optimize the value and strength of our U.S. business.”

[momocau]

THIS POST IS FROM ((JANUARY 9, 2023)) IT'S REALLY AN OLD POST,((TODAY IS SEPTEMBER 16, 2024)). STOP LIVING IN THE PAST. YOU'RE ALWAYS TRYING TO FIND SOMETHING NEGATIVE ON TILRAY AND YOU'RE LOOKING FOR OLD NEWS. YOU'RE REALLY IN BAD FAITH. MAYBE YOU SHOULD THINK ABOUT CHANGING YOUR POST, NOBODY BELIEVES YOU HERE ANYMORE

[DuDliedingle]

But it is still relevant today.