Tilray: Numbers Keep Getting Worse
- Tilray reported another quarter of highly disappointing results, yet the stock again rallied initially on the numbers.
- The Canadian cannabis company missed analyst revenue targets by ~10%.
- The stock remains far too expensive at over 12x key cannabis and beverage revenues.
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Tilray (TLRY) jumped on FQ2'22 results that somehow impressed the market. The cannabis L.P. actually reported declining cannabis revenues and a meager EBITDA profit after ignoring certain costs that are starting to recur. My investment thesis remains negative on the Canadian cannabis stock, as the company fails to grow cannabis revenues.
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