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Tilray formed a strategic alliance with HEXO in an odd move to help keep a top Canadian cannabis competitor alive. HEXO just reported another weak quarter where revenues missed expectations, but the company did cut the EBITDA losses. The stock remains far too expensive trading at over 10x actual cannabis sales while the competition in Canada remains fierce. Looking for a portfolio of ideas like this one? Members of Out Fox The Street get exclusive access to our model portfolio.  Learn More » The biggest issue with the Canadian cannabis market has been too much cultivation leading to oversupply. The new  Tilray Brands  ( NASDAQ: TLRY ) has attempted to consolidate the industry with the acquisition of Aphria, but the sector continues to struggle as much as prior. The  new deal  to help keep  HEXO  ( HEXO ) in business keeps our  investment thesis  Bearish on Tilray Brands. Read the full article on Seeking Alpha.  Disclosure: No position m...

  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. Looking for a portfolio of ideas like this one? Members of Out Fox The Street get exclusive access to our model portfolio.  Learn More » 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. Read the full article on Seeking Alpha.  Disclosure: No position mentioned. Please review the disclaimer page for more details. 

  Tilray continues to urge shareholders to approve Proposal 1 to lift the authorized share count to 990 million shares. The Canadian cannabis company has proposed a plan to boost FY24 (June) revenue to $4 billion while current analyst estimates are only $1.37 billion. Investors are rightfully balking at the company boosting the authorized shares by ~250 million when organic growth is preferred. Looking for a portfolio of ideas like this one? Members of Out Fox The Street get exclusive access to our model portfolio.  Learn More » Tilray  ( TLRY ) had a huge day back in July following earnings as the Canadian cannabis company promoted a $4 billion revenue future in a just a few years. The enormous growth potential propelled the stock higher, but Tilray has to obtain these revenues via major acquisitions causing some heartburn amongst shareholders. My  investment thesis  remains Bearish on the stock due to the rich valuation and major M&A plans ahead. Read the ...

  Tilray reported misleading revenue growth in FQ4 due to not comparing pro-forma revenue from the merger for the quarter. The Canadian cannabis company is still struggling to grow due to lockdowns in Canada and Germany. The stock trades at substantial premium P/S multiple while risks exist on a U.S. acquisition plan. Looking for a portfolio of ideas like this one? Members of Out Fox The Street get exclusive access to our model portfolio.  Learn More » Before the market open,  Tilray  ( 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. Read the full article on Seeking Alpha.  Disclosure: No position mentioned. Please review the disclaimer page for more details.  Update - Jul...

  Aphria reported horrible FQ3 results for the period ending February. The Canadian cannabis company only generates 35% of revenue from cannabis sales. The stock is far too expensive with a $4.4 billion market valuation and their prime business only generating ~$210 million in run-rate revenues. Looking for a portfolio of ideas like this one? Members of Out Fox The Street get exclusive access to our model portfolio.  Learn More » Heading into the  Tilray  ( TLRY ) merger close,  Aphria  ( APHA ) reported a horrible quarter. The company further confirmed why overpaying for Canadian cannabis stocks is never warranted. My  investment thesis  remains negative on Aphria and the new entity despite a nearly 50% dip from the peak in February. Read the full article on Seeking Alpha.  Update - May 3 The deal closes with the new Tilray having a $8 billion valuation. The current FY revenue target is only $790 million, but the numbers include $350 millio...

Tilray continues to generate mounting losses. The Canadian cannabis company faced extreme pricing pressure during Q3. The risk that the company isn't EBITDA-positive in 2020 will pressure the stock next year with only $122 million in cash on hand. Investors excited by the revenue headlines from the  Q3 report  for  Tilray ( TLRY ) were hoodwinked into falling for the great Canadian cannabis disaster. These companies were built for massive growth and acquired additional global growth opportunities only to watch pricing collapse during this year of great growth following the approval of Canadian adult-use about a year ago. The $2.2 billion market cap remains far too expensive for their position in the market. Read the full article on Seeking Alpha.  Disclosure: No position mentioned. Please review the disclaimer page for more details. 

Tilray dipped below $40 on a big earnings miss. The company still has a $4 billion market cap despite quarterly cannabis revenues of only $22 million. The substantial cannabis price per gram drop is a sign of future market pricing as more supply reaches the market. Avoid the stock still trading at up to 10x forward revenue estimates that aren't realistic. With Tilray ( TLRY ) trading down below $40, the market has clearly finally caught onto the revenue gimmick game of the Canadian cannabis LPs. The company continues to expand into far-flung areas against large levels of competition without any legitimate spending restraints. The stock was the poster child for the excesses in the sector, and Tilray is still poised to head lower reinforcing our  previous research . Read the full article on Seeking Alpha.  Disclosure: No position mentioned. Please review the disclaimer page for more details. 

Tilray is generally viewed as an expensive stock with a $7 billion valuation and reported quarterly revenues of only $10 million. The October 17 legalization of the adult-use market in Canada is a major catalyst for the stock. Analyst revenue estimates appear low at only $12.8 million for Q4. The bear thesis could fall apart, if revenues top estimates as expected. After a hot IPO and first few months of trading,   Tilray   ( TLRY ) has come crashing down to $75. Shorts have generally written off the stock due to valuation concerns, but the company has the potential to prove the negative thesis wrong with operations in both Canada and Europe along with some high-profile partnerships. Read the full article on Seeking Alpha. Disclosure: No position mentioned. Please review the disclaimer page for more details.