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Smoked Tilray Shares Remain Worth Buying

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Leading Independent Proxy Advisory Firm Glass Lewis Joins ISS in Recommending That Tilray Shareholders Vote “FOR” All Proposals at Tilray’s Upcoming Special Meeting Business Wire - 7/21/2021 4:30:00 PM
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Tilray to Announce Fourth Quarter and Fiscal 2021 Financial Results on July 28, 2021 Business Wire - 7/15/2021 4:45:00 PM
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Leading Independent Proxy Advisory Firm ISS Recommends Tilray Shareholders Vote “FOR” All Proposals at Tilray’s Upcomin... Business Wire - 7/12/2021 7:00:00 AM
Aphria RX GmbH, filiale de Tilray, finalise la première récolte et livraison de cannabis médical cultivé en Allemagne Business Wire - 7/7/2021 9:20:00 PM
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Tilray’s Aphria RX GmbH Subsidiary Completes First Successful Harvest and Delivery of Medical Cannabis Grown in Germany Business Wire - 7/7/2021 8:10:00 AM
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FUNMAN Member Level  Wednesday, 06/02/21 11:04:43 PM
Re: Jlane3965 post# 6574
Post # of 7074 
Smoked Tilray Shares Remain Worth Buying

Don't trust the bearish worries about TLRY stock, positively embrace it

By Chris Tyler, InvestorPlace
Contributor Jun 2, 2021, 1:58 pm EDT

Tilray (NASDAQ:TLRY) has always been a big deal among cannabis stocks and recently TLRY stock has grown more impressive, except with Wall Street. And today that reeks of opportunity for buyers. Let’s check in with what’s happening off and on the price chart, then offer a risk-adjusted position to grow your trading account.

Canopy Growth (NASDAQ:CGC). Aurora Cannabis (NASDAQ:ACB). New Age Beverages (NASDAQ:NBEV). Sundial Growers (NASDAQ:SNDL) and many others. From the largest to the smallest, and for pot producers of all flavors, the past couple months have mostly proven a house of pain for investors.

On that front, Tilray shareholders can commiserate as a market leader, in the worst sort of way, with its peers. Three months after peaking at $67 in early February, shares were down as much as 80%. And today and nearly a month off its corrective low, shares are still off 75% from that relative high.

Issues Facing TLRY Stock

To be fair, Wall Street’s broader rotation out of higher multiple growth stories, which began in February, has barely loosened its grip. And I suppose TLRY, as well as other cannabis stocks, can empathize with others such as hard-hit SPACs. Churchill Capital (NYSE:CCIV). QuantumScape (NYSE:QS). Opendoor Technologies (NASDAQ:OPEN). There’s plenty of pain to go around.

But the smoking in TLRY shares still ranks among the best, in an ignominious sort of way. And behind that burden have been two other issues weighing on investors.

7 Travel Stocks to Buy Just in Time for Beach Season

First, there’s the overhang Tilray felt alongside other pot stocks. Optimism over quick-to-happen federal legalization under a pot-friendly Biden administration faded with the president’s well-watched first 100 days failing to find agreeable political will for cannabis. And it’s an issue.

Bottom line, Tilray, and other Canadian pot companies, can’t retain their publicly traded status and market marijuana in the U.S. until there’s a change at the federal level.

Secondly, size does matter. But it’s also two-way street and a challenging one for TLRY these days.

In early May, Tilray closed its deal with Aphria making the combined company the largest global grow outfit on a pro forma sales basis. But a valuation of around $7 billion compounded by disappointing quarterly results apparently left many investors gaging.

TLRY Weekly Price Chart

Tilray (TLRY) weekly bottoming completes massive corrective bear cycle in TLRY stock


Source: Charts by TradingView

Change in a beneficial sort of way is almost certain to happen as it relates to cannabis’ gridlock and sentiment surrounding TLRY’s place in the industry. And late last month, word of the House Judiciary Committee readying to reintroduce a bill for the federal legalization of marijuana did send TLRY stock higher.

What will tomorrow usher in? Cannabis cafes are still unlikely, of course. But shares of Tilray are leaving a fresh scent of growing profits on the weekly price chart.

And it’s one that looks worth sampling today.

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