Oh no--->>>Tilray is on the rise amid Reddit chatter • 10:03 AM
After two consecutive days of losses, Tilray (TLRY +6.7%) is on the rebound as the stock has become one of the top ten most trending names in Reddit's WallStreetBets users forum.
The result of a merger with its Canadian rival Aphria, the company recently closed its High Park Farms facility in Ontario as it drives the consolidation aiming $81M in pre-tax cost synergies within 18 months from the deal.
At the recently concluded BMO Capital Markets Annual Farm to Market Conference, the company CEO Irwin Simon hinted at even more future deals when the analysts questioned the first-mover advantage enjoyed by the U.S. operators in the event of federal legalization.
“If there's number two or number three in the US that we team up with, very easy, I think, in that combination, there's an opportunity with our strengths to have the ability to push that to be a number one,” Simon noted referring among other things to Tilray’s balance sheet strength.
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