Canadian pot company Tilray's stock slips after posting a wider-than-expected loss for the second quarter

Shares of the Canadian pot company slid Tuesday in after-hours trading.'s stock fell after the Canadian cannabis company reported a wider-than-expected loss for the second quarter after the markets closed Tuesday.

Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:Revenue: $45.9 million vs. $41.1 million expectedOn an unadjusted basis, Tilray reported a second-quarter net loss of $35.1 million, or 36 cents per share, wider than its loss during the same quarter last year of $12.8 million, or 17 cents per share.

After excluding for acquisition-related expenses and an inventory accounting charge, Tilray lost 32 cents per share, a steeper loss than the 25 cents per share analysts surveyed by Refinitiv expected. Sales rose 371% to $45.9 million, beating expectations of $41.1 million, which Tilray attributed to its acquisition of hemp food producer Manitoba Harvest and Canada legalizing recreational marijuana last year.

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Tilray spikes more than 8% ahead of its second-quarter earningsTilray's stock has tumbled nearly 80% from the all-time highs it reached a few months after its IPO in 2018. They must be disappointed as hell
Source: BusinessInsider - 🏆 729. / 51 Read more »