Replies to post #7408 on Tilray Brands Inc (TLRY)

[john1311]

Surge of Advocacy Groups Weigh In on Federal Cannabis Reform Bill

Some of the industry’s most prominent cannabis advocacy groups weighed in on the Senate’s Cannabis Administration and Opportunity Act.

https://hightimes.com/news/surge-of-advocacy-groups-weigh-in-on-federal-reform/

[FUNMAN]

The comments were extremely detailed and from all of the important cannabis proponents and detractors. Seems like there's a lot of room for horse trading.

Encouraging?

Drugdoctor Saturday, 09/04/21 03:45:25 PM
Re: FUNMAN post# 7404
Post # 7408 of 7410

Wow, a lot of opinions, but they all are in favor... Thanks for posting that

[FUNMAN]

Piper Sandler Lowers Tilray (NASDAQ:TLRY) Price Target to $14.00

https://www.marketbeat.com/instant-alerts/nasdaq-tlry-a-buy-or-sell-right-now-2021-09-2-3/

FRIDAY, SEPTEMBER 10, 2021
By: MARKETBEAT

Tilray (NASDAQ:TLRY) had its price objective decreased by equities researchers at Piper Sandler from $15.00 to $14.00 in a research report issued to clients and investors on Friday, The Fly reports. The brokerage currently has a "neutral" rating on the stock. Piper Sandler's target price indicates a potential upside of 8.86% from the stock's current price.


Several other equities research analysts have also commented on TLRY. Alliance Global Partners decreased their price objective on shares of Tilray from $17.00 to $15.00 and set a "neutral" rating for the company in a research note on Wednesday, August 18th. MKM Partners reiterated a "hold" rating and issued a $16.00 price objective on shares of Tilray in a research note on Thursday, July 29th. Zacks Investment Research lowered shares of Tilray from a "hold" rating to a "sell" rating in a research note on Thursday, July 15th. Cantor Fitzgerald decreased their price objective on shares of Tilray from $24.00 to $19.00 and set an "overweight" rating for the company in a research note on Tuesday, July 27th. Finally, CIBC lowered shares of Tilray from an "outperform" rating to a "neutral" rating and set a $25.00 price objective for the company in a research note on Thursday, June 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Tilray has a consensus rating of "Hold" and an average target price of $18.80.

Learn more here

TLRY opened at $12.86 on Friday. Tilray has a fifty-two week low of $4.41 and a fifty-two week high of $67.00. The firm has a market capitalization of $5.75 billion, a P/E ratio of -6.88 and a beta of 2.63. The company's 50-day moving average is $14.27 and its 200 day moving average is $17.83. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.20 and a quick ratio of 1.56.

Tilray Rises After Q4 Earnings, First Results Since Aphria Merger
In other news, Director Brendan Kennedy sold 300,000 shares of the firm's stock in a transaction that occurred on Thursday, July 15th. The shares were sold at an average price of $14.67, for a total transaction of $4,401,000.00. Following the completion of the sale, the director now owns 8,950,485 shares in the company, valued at approximately $131,303,614.95. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 1,000,000 shares of company stock valued at $15,813,000. 3.17% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in TLRY. North Star Investment Management Corp. grew its stake in Tilray by 740.7% in the 2nd quarter. North Star Investment Management Corp. now owns 1,589 shares of the company's stock valued at $29,000 after buying an additional 1,400 shares in the last quarter. 1832 Asset Management L.P. purchased a new position in Tilray in the 2nd quarter valued at approximately $29,000. CWM LLC boosted its holdings in Tilray by 165.1% in the 1st quarter. CWM LLC now owns 1,328 shares of the company's stock valued at $30,000 after purchasing an additional 827 shares during the period. Firestone Capital Management boosted its holdings in Tilray by 81.5% in the 2nd quarter. Firestone Capital Management now owns 1,779 shares of the company's stock valued at $32,000 after purchasing an additional 799 shares during the period. Finally, Focused Wealth Management Inc boosted its holdings in Tilray by 2,868.9% in the 2nd quarter. Focused Wealth Management Inc now owns 1,811 shares of the company's stock valued at $33,000 after purchasing an additional 1,750 shares during the period. Institutional investors and hedge funds own 7.50% of the company's stock.

Tilray, Inc engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products in Argentina, Australia, Canada, Chile, Croatia, Cyprus, the Czech Republic, Germany, New Zealand, and South Africa. Tilray, Inc is headquartered in Nanaimo, Canada.

[FUNMAN]

Cannabis giant Tilray announces it will be closing its Nanaimo operations

Unfortunately the human cost of saving $80,000,000 in synergies comes out of peoples' livelihoods/employees pockets and causes real problems.

As a shareholder, Simon is earning his keep. - FUNMAN

Closure to be completed in phases over the next few months

By: CHRIS BUSH
Sep. 15, 2021 5:35 p.m.
BUSINESS

Nanaimo-based cannabis producer Tilray has announced it will shut down its Nanaimo operations.

A written statement sent by Berrin Noorata, Tilray chief corporate affairs officer, on Wednesday, Sept. 15, said that “with the recent business combination with Aphria, Tilray is making changes to optimize operational efficiencies.”

The statement noted that Tilray will concentrate its B.C. cultivation in the Broken Coast facility in the Cowichan Valley and its international production and manufacturing in Portugal and Germany.

“By focusing local cultivation and manufacturing at the remaining sites across Canada, Tilray will be able to operate more efficiently, save costs, and deliver the highest-quality products to its patients and consumers all while driving growth and shareholder value,” the statement said.

The Nanaimo facility’s closure will happen in phases and will be complete by spring 2022. The company said it will work with employees “interested in transitioning and seeking opportunities at our nearby facility at Broken Coast.”

Mayor Leonard Krog issued a statement on behalf of city council expressing disappointment upon learning Tilray will be closing its cultivation facility and offices in Nanaimo.

“While it is my understanding that Tilray plans to close its facility in phases … we are mindful that employees and others will be seriously impacted by the closures,” Krog said. “However, I am confident that given our demand for industrial lands, Nanaimo will welcome a new and significant employer soon.”

Kim Smythe, Greater Nanaimo Chamber of Commerce CEO, said the announcement was a shock, but said that sort of thing happens in “a dynamic industry fraught with change and takeovers and mergers.”

He said he thinks Tilray staff will be able to find suitable job opportunities in a time of worker shortages.

“I think it will be easy to absorb them into the economy because the shortages that we’re seeing are cross-sector, cross-industry…” Smythe said. “Its a fairly big change in the labour market here in Nanaimo, but I’m confident that it will sort itself out and all jobs will be replaced by others.”


Tilray’s and Aphria’s other Canadian production facilities are in Leamington, Ont. and London, Ont.