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Why Tilray Stock Jumped Today
By Chris Neiger – Jul 30, 2024 at 4:31PM
The cannabis company delivered better-than-expected results on the top and bottom lines.
Shares of the cannabis company Tilray Brands (TLRY 9.84%) climbed higher Tuesday after it reported fourth-quarter results that beat analysts' consensus estimates on the top and bottom lines.
The company's shares jumped by as much as 17.5% early today and were up by 10.1% as of 3:53 p.m.
Rising earnings and revenue
Tilray generated $229.9 million in sales in the fourth quarter, up 25% from the year-ago quarter and ahead of Wall Street's consensus estimate of $227 million.
Revenue was driven higher mostly by the company's alcoholic beverage segment, thanks to new products and contributions from its craft beer acquisitions last year. Sales from this segment spiked 137% to $76.7 million, surpassing Tilray's cannabis revenue of $71.9 million.
Tilray acquired eight beer brands from Anheuser-Busch last year, making it the fifth largest craft brewer in the U.S.
Fourth-quarter earnings were also impressive. Adjusted earnings per share of $0.04 blew past analysts' consensus estimate of a loss of $0.02.
CEO Irwin Simon said on the company's earnings call, "Over the past fiscal year, our strategic acquisitions have significantly benefited our financial results, which we expect will continue to benefit us well into the future."
Growing financial strength
Management highlighted some of company's increasing financial strengths, including reducing its net convertible debt by $300 million and its adjusted gross profit of $235.6 million in fiscal 2024.
The company finished fiscal 2024 with a net loss of $224.4 million, which is a significant improvement over its loss of $1.4 billion in 2023.
That improvement likely also spurred investor optimism, along with the company's 2025 revenue outlook. Management estimates full-year sales between $950 million and $1 billion, which would represent a nearly 24% increase at the midpoint.
With the company's better-than-expected fourth-quarter results and its craft beer acquisition already paying off, it's no surprise to see investor optimism about Tilray's future.
https://www.fool.com/investing/2024/07/30/why-tilray-stock-jumped-higher-today/
OGI bullish Biden sentiment this morning pre market
thanks for all the excellent postings you do here... you make this one of the most informative boars on ihub....
This deal with Sanity if good forward thinking... I wonder what is the increase in medical canna customers in Germany since legalisation on April 1...? Does anyone have the figures...?
Thanks for that, Hunch.
many thanks....
Congrats. Love to see wealth creation. Hopes you enjoy your smart trading and good fortune.
what has happened to this board? It was once a place of information and knowledgable discourse. Now it's partially a madhouse. Next time I dip in, especially with a brighter future ahead for hard pressed TLRY investors, I hope the board cleans out the lunatic.
thanks for the news.... good news at last... I'm in profit here... love the colour green....
Thanks, Hunch.... this is great news... sounds a winning innovative product... it is just a pity we cannot legally consume high quality milled flower SHRED on this side of the pond... unfortunately Europe, US and much of the world, are so far behind Canada... if the Ottawa government was smart it would reduce the tax burned on LPs to normal, and not unfair draconian as at present, and allow these Canadian legal operators to retain capital and so grow themselves into mammoth international companies, which would be to the ultimate benefit of the Ottawa government, and the Canadian taxpayer.... cheers...
she has the presidential potential .... the poor US needs more common sense and less manure in the politics...
Thanks for that, Hunch... now I understand market movement from that... OGI share price ought to be way better than it is today.... but then again, so should peace on earth...
Happy new year Hunch.... isn't it time this sector awakens again...? I've still a few thousand shares in OGI... I did so well with OGI that I had to hold some shares through the bad times because of my fondness for this company... now, isn't it time OGI enjoys its bright future...
nice looking Monday morning here... hopes you are in good form Hunch.... love seeing premarket double digit green... best of luck to all OGI investors.....
Bought in here in seven seventies on Friday, hoping good news is not far off.
thanks for your wonderful words...
I am glad I got in here at 7.13.... however, like all of us, I should have bought more.... lol
Thanks for your updates.... I'm dipping my toes in here...
Hexo flying in premarket... up 36%....
Last July: Tilray Brands acquired the HEXO Note from HTI, which has a current principal balance of $173.7 million outstanding
Cannabis stocks extended recent gains to stage a rally towards the market close on Friday after President Joe Biden signed a marijuana research bill into law.
Notable gainers include Clever Leaves (CLVR), SNDL Inc. (SNDL), MedMen Enterprises (OTCQB:MMNFF), Canopy Growth Corporation (CGC), Tilray Brands (NASDAQ:TLRY), TerrAscend Corp. (OTCQX:TCNNF), OrganiGram Holdings (OGI), Aurora Cannabis (ACB), GrowGeneration (GRWG) and Cronos Group (CRON)
The bill named Medical Marijuana and Cannabidiol Research Expansion Act cleared the House in April and the Senate last month.
It establishes a new registration process for cannabis-related research and the production of marijuana for research and drug development.
https://seekingalpha.com/news/3913664-tlry-stock-sndl-stock-lead-cannabis-stocks-higher-as-biden-signs-marijuana-law?mailingid=29873306&messageid=2900&serial=29873306.8691&utm_campaign=rta-stock-news&utm_content=link-1&utm_medium=email&utm_source=seeking_alpha&utm_term=29873306.8691
Cannabis stocks extended recent gains to stage a rally towards the market close on Friday after President Joe Biden signed a marijuana research bill into law.
Notable gainers include Clever Leaves (CLVR), SNDL Inc. (SNDL), MedMen Enterprises (OTCQB:MMNFF), Canopy Growth Corporation (CGC), Tilray Brands (NASDAQ:TLRY), TerrAscend Corp. (OTCQX:TCNNF), OrganiGram Holdings (OGI), Aurora Cannabis (ACB), GrowGeneration (GRWG) and Cronos Group (CRON)
The bill named Medical Marijuana and Cannabidiol Research Expansion Act cleared the House in April and the Senate last month.
It establishes a new registration process for cannabis-related research and the production of marijuana for research and drug development.
https://seekingalpha.com/news/3913664-tlry-stock-sndl-stock-lead-cannabis-stocks-higher-as-biden-signs-marijuana-law?mailingid=29873306&messageid=2900&serial=29873306.8691&utm_campaign=rta-stock-news&utm_content=link-1&utm_medium=email&utm_source=seeking_alpha&utm_term=29873306.8691
Now that the UK (politically lead by Mitch McConnell supporters) is out of Europe, pressure is building with progressives across the old continent to legalise cannabis... The majority of Europeans now realise that the war on drugs, and especially cannabis prohibition, were some of the worst decisions made by human fools....
This is good news going forward for Tilray investors, especially with steady legalisation moves in Germany. What old farts wish not to recognise is that we Europeans all live in democracies, meaning: the will of the people, and most of the majorities in EU countries desire to end prohibition.
Here's some more news from Germany:
https://internationalcbc.com/german-lawmakers-call-for-cannabis-legalization-bill-to-be-expedited/
Yep, Hunch, looking good... a great wee investment here....
yes, Mike, you are correct.... running good (up 9% todate) for '23.... hopes you make money with this fab company...
OGI Revenue beats by $13.45M.
Organigram reports Q4 results; issues FY23 soft guidance
Nov. 29, 2022 OrganiGram Holdings Inc. (OGI),
Organigram press release (NASDAQ:OGI):
Q4 net loss was $6.1M, compared to a net loss of $26.0M in Q4 Fiscal 2021.
Adjusted EBITDA of $3.2M, the third consecutive quarter of positive Adjusted EBITDA, compared to negative Adjusted EBITDA of $4.8M in the same prior year period.
Adjusted Gross Margin of $10.4M or 23%, compared to $3.0M or 12% in the same prior year period, reflecting improvements from increased efficiencies and higher sales volume.
Revenue of $45.5M (+82.7% Y/Y) beats by $13.45M.
Outlook: Organigram currently expects Fiscal 2023 revenue to be higher than that of Fiscal 2022.
The company expects to see an improvement in adjusted gross margins in Fiscal 2023 and has put measures in place that it expects will further improve margins over time.
The company expects significant growth in Adjusted EBITDA in Fiscal 2023 over Fiscal 2022.
The company expects to have positive cash flows from operating activities during Fiscal 2023 and positive free cash flows during calendar 2023.
https://seekingalpha.com/news/3911764-organigram-reports-q4-results-issues-fy23-soft-guidance?mailingid=29829239&messageid=2900&serial=29829239.64&utm_campaign=rta-stock-news&utm_content=link-1&utm_medium=email&utm_source=seeking_alpha&utm_term=29829239.64
European countries now queuing up behind Germany to legalise cannabis in Europe.
Switzerland:
https://businesscann.com/switzerland-could-well-become-the-second-european-country-after-germany-to-legalise-recreational-cannabis/?mc_cid=bb0b14d701&mc_eid=322e52e758
Czech Republic:
https://www.dw.com/en/czech-republic-on-the-way-to-legalizing-cannabis/a-63616450?mc_cid=bb0b14d701&mc_eid=322e52e758
And the rest of Europe....?
"...the ‘green wave’, the cannabis sector is undeniably on the rise across Europe, with policy changes in both the medicinal and recreational spheres..."
https://volteface.me/recreational-cannabis-legalisation-in-europe/
Leading Independent Proxy Advisory Firms ISS and Glass Lewis Recommend Tilray Stockholders Vote “FOR” Tilray’s Proposal to Protect Stockholders and Promote Accountability
Tilray Urges Stockholders to Vote Today to Help Modernize the Company’s Corporate Governance by Eliminating Super-Voting Stock
NEW YORK and LEAMINGTON, Ontario, Nov. 03, 2022 (GLOBE NEWSWIRE) -- Tilray Brands, Inc. (“Tilray” or the “Company”) (NASDAQ | TSX: TLRY), a leading global cannabis-lifestyle and consumer packaged goods company, today announced that Institutional Shareholder Services (“ISS”) and Glass, Lewis & Co. (“Glass Lewis), both leading independent providers of proxy research and vote recommendations to the investment community, have recommended that Tilray stockholders vote “FOR” Proposal 3, the Company’s proposal to eliminate Tilray’s Class 1 common stock at the Company’s Annual Meeting of Stockholders (the “Annual Meeting”) to be held on November 22, 2022.
“We are pleased that ISS and Glass Lewis agree that stockholders should support Proposal 3 at the upcoming Annual Meeting,” said Irwin D. Simon, Tilray Brands’ Chairman and Chief Executive Officer. “The endorsement of the two major independent proxy advisory firms reaffirms our conviction that Proposal 3 is in the best interests of our stockholders and a critical part of our strategy to simplify our capital structure and modernize our corporate governance, which we believe will protect stockholders and promote accountability. We encourage stockholders to vote “FOR” Proposal 3 and all proposals at our upcoming Annual Meeting to support strong corporate governance and oversight.”
In determining to recommend “FOR” Proposal 3, ISS noted1:
“This proposal will simplify and update the company's governing documents to reflect that no shares of Class 1 common stock are outstanding, and none will be issued in the future. In addition, this will have no impact on the rights of current shareholders. Therefore, support for this proposal is warranted.”
Glass Lewis, which joined ISS in recommending “FOR” Proposal 3, noted1:
“Allowing one vote per share generally operates as a safeguard for common shareholders by ensuring that those who hold a significant minority of shares are able to weigh in on issues set forth by the board.”
Tilray urges shareholders to vote today to support these key initiatives to ensure best corporate governance practices and help the Company protect the influence of its stockholders. Your support is important, no matter how many or how few shares you own.
If you have any questions, or need any assistance in voting your shares, please contact Morrow Sodali LLC at (800) 449-0910 toll-free in the U.S. and Canada or (203) 658-9400 or by email at TLRY@info.morrowsodali.com.
HELP TILRAY GROW!
VOTE “FOR” TODAY!
You could be right, Nick, and what a huge market to be in.... according to High Times:
https://hightimes.com/business/legislative-report-projects-72-billion-cannabis-industry-by-2030/
"A new legislative report delivered to Maryland lawmakers this week projects that the nationwide market for legal cannabis could climb to $72 billion per year by 2030, more than double the current market estimation of $32 billion annually...."
hahahaha....
Killazilla, you have value in your words... On a happy note: It is encouraging that the Rs and Ds are peacefully working together on cannabis laws... without doubt this is a healing plant... pity someone wouldn't give Putin a toke...
More good news...
Senate Majority Leader Chuck Schumer on Sunday said that the Senate is very close to agreeing on legislation that would allow cannabis businesses access to the US banking system based on discussions with some Republican senators.
"I am working in a bipartisan way with Democrats and Republicans to take the SAFE Banking Act, which allows financial institutions to involve themselves in cannabis companies and lend money to them—but it also does some things for justice, such as expunging a record," Schumer said Sunday evening in a televised debated with Republican challenger Joe Pinion.
The legislation that Schumer is talking about is similar to the SAFE Banking Plus legislation that has been floated around. It includes both banking reform and marijuana conviction expungements.
However, this legislation is unlikely to include language related to federal marijuana legalization, according to Marijuana Moment.
https://seekingalpha.com/news/3897904-schumer-says-getting-very-close-to-passing-marijuana-banking-bill-in-senate?mailingid=29546610&messageid=2900&serial=29546610.14563&utm_campaign=rta-stock-news&utm_content=link-1&utm_medium=email&utm_source=seeking_alpha&utm_term=29546610.14563
Senate Majority Leader Chuck Schumer on Sunday said that the Senate is very close to agreeing on legislation that would allow cannabis businesses access to the US banking system based on discussions with some Republican senators.
"I am working in a bipartisan way with Democrats and Republicans to take the SAFE Banking Act, which allows financial institutions to involve themselves in cannabis companies and lend money to them—but it also does some things for justice, such as expunging a record," Schumer said Sunday evening in a televised debated with Republican challenger Joe Pinion.
The legislation that Schumer is talking about is similar to the SAFE Banking Plus legislation that has been floated around. It includes both banking reform and marijuana conviction expungements.
However, this legislation is unlikely to include language related to federal marijuana legalization, according to Marijuana Moment.
https://seekingalpha.com/news/3897904-schumer-says-getting-very-close-to-passing-marijuana-banking-bill-in-senate?mailingid=29546610&messageid=2900&serial=29546610.14563&utm_campaign=rta-stock-news&utm_content=link-1&utm_medium=email&utm_source=seeking_alpha&utm_term=29546610.14563
Senate Majority Leader Chuck Schumer on Sunday said that the Senate is very close to agreeing on legislation that would allow cannabis businesses access to the US banking system based on discussions with some Republican senators.
"I am working in a bipartisan way with Democrats and Republicans to take the SAFE Banking Act, which allows financial institutions to involve themselves in cannabis companies and lend money to them—but it also does some things for justice, such as expunging a record," Schumer said Sunday evening in a televised debated with Republican challenger Joe Pinion.
The legislation that Schumer is talking about is similar to the SAFE Banking Plus legislation that has been floated around. It includes both banking reform and marijuana conviction expungements.
However, this legislation is unlikely to include language related to federal marijuana legalization, according to Marijuana Moment.
Most of the major cannabis multi-state operators are up on Schumer's comments in Monday trading.
Multi-state operators: Cresco Labs (OTCQX:CRLBF); Columbia Care (OTCQX:CCHWF); Trulieve Cannabis (OTCQX:TCNNF); Green Thumb Industries (OTCQX:GTBIF); Curaleaf Holdings (OTCPK:CURLF); MedMen Enterprises (OTCQB:MMNFF); Acreage Holdings (OTCQX:ACRHF); Ayr Wellness (OTCQX:AYRWF); Verano Holdings (OTCQX:VRNOF); and Jushi Holdings (OTCQX:JUSHF).
Cannabis-related ETFs: AdvisorShares Pure Cannabis ETF (YOLO), Amplify Seymour Cannabis ETF (CNBS), ETFMG Alternative Harvest ETF (NYSEARCA:MJ), AdvisorShares Pure US Cannabis ETF (MSOS), and Global X Cannabis ETF (POTX).
Cannabis stocks recently got a boost in the wake of Canopy Growth's (CGC) acquisition of Acreage Holdings (OTCQX:ACRHF).
https://seekingalpha.com/news/3897904-schumer-says-getting-very-close-to-passing-marijuana-banking-bill-in-senate?mailingid=29546610&messageid=2900&serial=29546610.14563&utm_campaign=rta-stock-news&utm_content=link-1&utm_medium=email&utm_source=seeking_alpha&utm_term=29546610.14563
OrganiGram Holdings Inc. (NASDAQ:OGI) is expected to deliver revenue generation and free cash flow growth. Management announced that new products will be announced in the rest of 2022. Besides, with cash in hand, I would be expecting that more M&A activity would enhance revenue, and bring economies of scale. Even considering risks from further regulatory pressure around the cannabis industry and inflationary pressures, I believe that the current stock is considerably undervalued....
https://seekingalpha.com/article/4550830-organigram-undervalued-and-with-new-brands-in-the-pipeline?mailingid=29535899&messageid=2800&serial=29535899.1633&utm_campaign=rta-stock-article&utm_medium=email&utm_source=seeking_alpha&utm_term=29535899.1633
thanks, Hunch.... and now for more good news....
OrganiGram Holdings: Undervalued And With New Brands In The Pipeline
Summary
OrganiGram is a medical cannabis provider as well as a seller of cannabis to adult recreational consumers.
Expectations from analysts are quite beneficial.
According to analysts, net sales growth in 2022 would reach 80%, 33% in 2023, and 28% in 2024.
In my view, OrganiGram has a significant amount of expertise in the M&A markets. Future transactions may help the company maintain its revenue growth.
https://seekingalpha.com/article/4550830-organigram-undervalued-and-with-new-brands-in-the-pipeline?mailingid=29535899&messageid=2800&serial=29535899.1633&utm_campaign=rta-stock-article&utm_medium=email&utm_source=seeking_alpha&utm_term=29535899.1633
Germany announces plan to legalise cannabis for recreational use
Minister says legalisation could set precedent for rest of Europe, though plan is still subject to EU approval
https://www.theguardian.com/world/2022/oct/26/germany-to-legalise-cannabis-for-recreational-use
( population of Germany: 83.13 million
population of EU: 447 million )
https://www.theguardian.com/world/2022/oct/26/germany-to-legalise-cannabis-for-recreational-use
Germany announces plan to legalise cannabis for recreational use
Minister says legalisation could set precedent for rest of Europe, though plan is still subject to EU approval
I am not smart enough to explain....
HOWEVER, Baz...
Germany unveils plans to legalise cannabis
Move would create the world’s largest regulated national market for the drug
https://www.ft.com/content/ac495141-4270-454f-a5aa-53a9f2152baf
The German government has unveiled a detailed framework for the legalisation of cannabis, setting the country on course to becoming the world’s largest regulated national market for the drug.
“Drug policy has to be updated,” said health minister Karl Lauterbach on Wednesday, citing unchecked rising consumption of cannabis among young adults, and an increasing threat to public health from impure and high-strength products as reasons behind the proposed change.
Before becoming law, the proposals will face an extensive legal consultation with European neighbours and will then will be put in front of German lawmakers in the Bundestag.
Lauterbach said while the package could be seen as “the most liberal cannabis legalisation project in Europe”, its purpose was to increase, not decrease, public oversight. The proposals would create “the most strictly regulated [cannabis] market in Europe, with the clear objective of decriminalisation and improving protections for young people and public health,” he said.
The German government’s proposals follow the decision by US president Joe Biden to pardon thousands of Americans convicted of possessing the drug. “Too many lives have been upended because of our failed approach to marijuana,” Biden said earlier this month in a move seen by many as a prelude to a liberalisation of US law.
Around 4mn Germans took illegal cannabis products last year, and a quarter of all 18-24 year olds, according to the ministry of health.
Berlin’s planned liberalisation will not be straightforward. Germany, as a member of Europe’s border-check free Schengen Zone, will need to overcome what are likely to be strong objections from fellow EU states.
Regulations prohibit the import of illegal drugs over European borders, meaning the country will have to prove it can tightly monitor border crossings and not undermine its neighbours’ own narcotics policies.
Negotiations to find a consensus among Schengen member states are meanwhile unlikely to be a high diplomatic priority, given Europe’s current geopolitical agenda.
Germany unveils plans to legalise cannabis
Move would create the world’s largest regulated national market for the drug
https://www.ft.com/content/ac495141-4270-454f-a5aa-53a9f2152baf
The German government has unveiled a detailed framework for the legalisation of cannabis, setting the country on course to becoming the world’s largest regulated national market for the drug.
“Drug policy has to be updated,” said health minister Karl Lauterbach on Wednesday, citing unchecked rising consumption of cannabis among young adults, and an increasing threat to public health from impure and high-strength products as reasons behind the proposed change.
Before becoming law, the proposals will face an extensive legal consultation with European neighbours and will then will be put in front of German lawmakers in the Bundestag.
Lauterbach said while the package could be seen as “the most liberal cannabis legalisation project in Europe”, its purpose was to increase, not decrease, public oversight. The proposals would create “the most strictly regulated [cannabis] market in Europe, with the clear objective of decriminalisation and improving protections for young people and public health,” he said.
The German government’s proposals follow the decision by US president Joe Biden to pardon thousands of Americans convicted of possessing the drug. “Too many lives have been upended because of our failed approach to marijuana,” Biden said earlier this month in a move seen by many as a prelude to a liberalisation of US law.
Around 4mn Germans took illegal cannabis products last year, and a quarter of all 18-24 year olds, according to the ministry of health.
Berlin’s planned liberalisation will not be straightforward. Germany, as a member of Europe’s border-check free Schengen Zone, will need to overcome what are likely to be strong objections from fellow EU states.
Regulations prohibit the import of illegal drugs over European borders, meaning the country will have to prove it can tightly monitor border crossings and not undermine its neighbours’ own narcotics policies.
Negotiations to find a consensus among Schengen member states are meanwhile unlikely to be a high diplomatic priority, given Europe’s current geopolitical agenda.