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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