MJ - Cannabis stocks up despite Tilray missing earnings estimates earlier

Most Canadian cannabis distributors are following Tilray's (TLRY +3.6%) lead and are up in trading today. Despite reporting fiscal Q1 EPS revenues this morning that fell short of Street consensus, Tilray shares got a boost. Net revenue rose 43% year-over-year even as net loss widened. The best performing cannabis name today is Canopy Growth (CGC +4.4%). It will release its fiscal year 2022 Q2 earnings results next month. Other cannabis names: Cronos Group (CRON +3.4%); HEXO (HEXO +3.5%); Aurora Cannabis (ACB +1.0%); OrganiGram Holdings (OGI +1.1%); Sundial Growers (SNDL +2.9%). ETFs: Global X Funds - Global X Cannabis ETF (POTX +3.3%); ETFMG Alternative Harvest ETF (MJ +2.2%); AdvisorShares Pure Cannabis ETF (YOLO +1.9%); Amplify Seymour Cannabis ETF (CNBS +2.5%). Seeking Alpha contributor Stone Fox Capital today issued a bearish report on Tilray, writing that "the stock valuation of Tilray is still out of touch with the realities of the Canadian cannabis business."

For further details see:

Cannabis stocks up despite Tilray missing earnings estimates earlier