Company News

BUZZ-Tilray's results, Aurora's Australia tie-up lift other pot stocks

** Tilray shares, the laggard among the bigger cannabis stocks this year, jump ~3 pct premarket on Q4 report

** Tilray’s revenue triples, beating market estimates, as volume sales jump almost three-fold and avg selling price rises 5.5 pct

** While other pot stocks have surged, TLRY shares have been muted this year, not helped by getting its first ‘sell’ ratings

** Meanwhile, Aurora Cannabis rising 2.3 pct premarket after a tie-up with Australia’s Cann Group for medical cannabis

** Other peers also gaining premarket: Aphria up 1.7 pct, Cronos 1 pct, Canopy Growth up 0.6 pct

** YTD, TLRY’s 2.4 pct rise (up to Mon.) dwarfed by CGC’s 70 pct jump, APHA’s 80 pct jump, while ACB and CRON have doubled

** But, since mid-July IPO, TLRY has soared ~240 pct; CRON next with ~222 pct, ACB and CGC both with gains of 72-72 pct and APHA’s ~22 pct rise is the laggard

** Still, TLRY has the least short interest, at 4.3 pct of outstanding shares at end-Feb., with the rest between CRON’s 6.4 pct and ACB’s 7.6 pct -Refinitiv data (Reporting by Savio D’Souza)