Tilray, Hexo stocks fall sharply after M&A deal

Tilray Brands Inc.

stock is down 8% in premarket trades Tuesday after the cannabis company posted a wider-than-expected loss, missed its revenue estimate and said it would buy fellow Canadian cannabis company Hexo Corp. for $56 million in an all-stock deal. Hexo stock is down 23%. Tilray’s third-quarter loss of $1.90 a share fell short of the analyst expectation for a loss of 6 cents a share. The company’s third-quarter revenue of $145.6 million missed the forecast of $145.6 million. Hexo shareholders will receive 0.4352 of a share of Tilray for each Hexo share, for an implied purchase price of $1.25... Tilray Brands Inc.

stock is down 8% in premarket trades Tuesday after the cannabis company posted a wider-than-expected loss, missed its revenue estimate and said it would buy fellow Canadian cannabis company Hexo Corp. for $56 million in an all-stock deal. Hexo stock is down 23%. Tilray’s third-quarter loss of $1.90 a share fell short of the analyst expectation for a loss of 6 cents a share. The company’s third-quarter revenue of $145.6 million missed the forecast of $145.6 million. Hexo shareholders will receive 0.4352 of a share of Tilray for each Hexo share, for an implied purchase price of $1.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Tupperware’s stock craters after food-storage company warns it may go bustTupperware Brands Corp.'s stock slid 45% Monday to the lowest level in three years. I guess no more people hosting Tupperware parties
La source: MarketWatch - 🏆 3. / 97 Lire la suite »