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CNBS - Pot stocks under pressure after Tilray reports big drop in average sale price
Amplify ETF Trust - Amplify Seymour Cannabis ETF
The broad market's sell-off notwithstanding, cannabis stocks are under pressure after Tilray reported Q2 results after the close yesterday. Revenues were up 371% to $45.9M, albeit from a low base. Investors appear to be reacting to its disclosure that the average price per gram sold dropped 28% to $4.61, pointing to potential oversupply in the market, not much of a stretch to believe considering the high number of producers who are all scrambling to boost output.
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