Tilray Q4 Sales Beat Boosts Shares; Medical Marijuana Margin Questions Linger

Martin Baccardax - finance.yahoo.com Posted 5 years ago

shares were indicated higher in pre-market trading Monday after the Canadian cannabis group posted a wider-than-expected fourth quarter loss but said sales nearly tripled in a growing global market for medical marijuana. "We are still in the early stages of the global transformation of $150 billion worldwide industry," Tilray CEO Brendan Kennedy told investors on a conference call late Monday. Tilary shares were marked 2.44% higher in pre-market trading Tuesday, indicating an opening bell price of $74.00 each, a move that would extend the stocks' year-to-date gain to around 5% and value the Nanaimo, British Columbia-based group at around $6.9 billion.

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