Tilray, Cisco, and CanniMed Surge Amid Cannabis Regulatory Speculation
2 reports, 2 independent
Updated Oct 8
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What happened
Tilray shares rose significantly on Wednesday, following growing speculation that the Justice Department would reclassify marijuana from Schedule I. This stock surge occurred alongside Cisco and CanniMed, which were also noted as market forces. Tilray had recently reported three consecutive EPS misses, with the latest being a $0.43 loss against a $0.02 estimate.
From 247wallst.com
Why it matters
The market movement reflects investor anticipation regarding potential regulatory changes in the cannabis industry. Tilray, a cannabis company, has faced financial challenges, including multiple EPS misses, despite the market rally.
From 247wallst.com