(VIANEWS) – Tilray Inc. is a Canadian cannabis company which has made significant progress in international markets. Now, Tilray Inc. has an option to enter the U.S. via a deal with MedMen Enterprises Inc.
MedMen is a leading cannabis retail brand in the United States, with 21 licenses and 25 retail locations in major metropolitan areas such as the Bay Area, Los Angeles, Boston, Chicago, and Las Vegas, as well as a strong presence in California, the world’s largest market. Prior to the federal legalization of cannabis in the United States, and subject to compliance with applicable laws and stock exchange requirements, MedMen will actively pursue opportunities to extend its reach across international markets.
NASDAQ Composite opens in less than five hours and Tilray‘s pre-market value is already 7.09% up.
The last session, NASDAQ Composite finished with Tilray (TLRY) dropping 1.35% to $13.12. NASDAQ Composite fell 1.12% to $14,656.18, after two consecutive sessions in a row of losses, on what was an all-around negative trend trading session.
Today’s last reported volume for Tilray is 16146445, 34.42% below its average volume of 24624369.
Tilray’s last close was $13.30, 80.15% below its 52-week high of $67.00.
The company’s growth estimates for the ongoing quarter is 89.2% and a drop 50% for the next.
Year-on-year quarterly revenue growth declined by 7.8%, now sitting on 611.06M for the twelve trailing months.
Tilray’s Stock Yearly Top and Bottom Value
Tilray’s stock is valued at $13.12 at 05:17 EST, way below its 52-week high of $67.00 and way higher than its 52-week low of $4.41.
Tilray’s Moving Average
Tilray’s value is way below its 50-day moving average of $15.70 and way below its 200-day moving average of $19.99.
Tilray’s last day, last week, and last month’s current volatility was 6.02%, 2.68%, and 4.09%, respectively.
Tilray’s current volatility rank, which measures how volatile a financial asset is (variation between the lowest and highest value in a period), was 6.12% (day), 4.82% (last week), and 6.54% (last month), respectively.
Previous days news about Tilray
Tilray acquires majority position in amended medmen convertible notes, accelerating path into US cannabis market if federal legalization occurs. According to Benzinga on Tuesday, 17 August, “For starters, the investment provides Tilray with a potential accelerated path into the U.S. cannabis market upon federal legalization via a significant equity position in MedMen through conversion of the notes and the ability to exercise associated warrants.”, “The investment we are announcing in MedMen securities today, one of the most recognized brands in the $80 billion U.S. cannabis market, is a critical step towards delivering on our objective as we work to enable Tilray to lead the U.S. market when legalization allows.”
Tilray gets a new option on U.S. legalization with medmen deal. According to Bloomberg Quint on Tuesday, 17 August, “In that event, Tilray would be interested in acquiring even more of the company — potentially all of it, according to Chief Executive Officer Irwin Simon.”, “Tilray was attracted to the company because its demographic skews toward women and Millennials, and its brand is strong, allowing Tilray to market its products around the world, Simon said. ”
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