OGI - Tilray cools after jumping 26% yesterday on strong earnings; other cannabis names dip

Cannabis distributor Tilray (TLRY -1.6%), which closed yesterday up 26% after reporting quarterly net income that topped expectations, is taking a breather today as shares are down modestly in morning trading. Despite yesterday's run-up, Tilray shares are down more than 14% over the last six months. However, year-to-date, shares are up ~94%. During yesterday's earnings call, CEO Irwin Simon said that the company will be pursuing opportunities with multi-state operators, including potential mergers and acquisitions, once marijuana legalization becomes reality in the U.S. Other cannabis growers: OrganiGram Holdings (OGI -2.0%); Cronos Group (CRON -2.0%); HEXO Corp. (HEXO -4.2%); Aurora Cannabis (ACB -0.7%); Canopy Growth (CGC) ; Sundial Growers (SNDL -0.9%); and GrowGeneration (GRWG -0.5%). Multi-state operators: Trulieve Cannabis (OTCQX:TCNNF +1.1%); Harvest Health & Recreation (OTCQX:HRVSF +0.3%); Curaleaf Holdings (OTCPK:CURLF -0.2%); Acreage Holdings (OTCQX:ACRHF +3.9%); Cresco Labs (OTCQX:CRLBF -0.1%); Green Thumb Industries (OTCQX:GTBIF -0.5%); and MedMen Enterprises (OTCQB:MMNFF -3.1%).

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Tilray cools after jumping 26% yesterday on strong earnings; other cannabis names dip