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- The Two Most Oversold Medical Cannabis Stocks: Tilray
The Two Most Oversold Medical Cannabis Stocks: Tilray
TLRY stocks are trading 95% off their peak prices. The return to these values recorded in March 2022 would mean a 200% profit. Tilray is one of the most popular companies in the cannabis sector among institutional and retail investors. But inflated expectations led to a bubble in the cannabis sector that burst in 2019. Since then, cannabis-related stocks have been sliding within the bearish trend. New federal government initiatives in the United States may seriously exhilarate the industry.
TLRY reported revenues up by 8% to $153.3 million for the recent quarter, with net losses at $65.7 million amid depreciation of inventories. The company has acquired the rival Alpria to reduce costs by $80 million by the end of 2023. The strategic merger with HEXO is close to being finalised. That would generate a positive free cash flow in 2023, according to Tilray’s management statement. Together with looser restrictions in the U.S. Tilray stocks may gain positive momentum.
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