Tilray: Same Tired Story
Before the market open, (TLRY) reported FQ4 results to provide the first quarterly results of the combined Aphria and Tilray operations. Unfortunately, the Canadian cannabis company failed to provide pro-forma numbers for the combination. My investment thesis remains Bearish on the stock after the 20% rally in early trading.
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Update - July 30
The stock is down another 6% possibly on this news of not getting the votes for increasing authorized shares, though $TLRY suggests the issue is not getting enough people to vote which is a common issue with retail investors.-today convened and then adjourned the Special Meeting of Stockholders intended to approve two shareholder proposals: (1) a proposal to increase the authorized number of shares of common stock (“Authorized Shares Proposal”); and (2) a number of governance enhancements to increase stockholder rights (the “Governance Proposals”). The Special Meeting was adjourned to August 19, 2021, at 11:00 a.m. Eastern Time.