Why Tilray Stock Dropped in April
Canadian cannabis company Tilray (NASDAQ: TLRY) hasn't reported first quarter 2021 financial results yet, but another earnings report in April had an immediate impact on Tilray stock. That helped move Tilray shares down 19.3% for the month, according to data provided by S&P Global Market Intelligence.
Canadian peer Aphria reported its financial update on April 12, and disappointed investors sold off Tilray stock, too, knocking it down 13% on the day. That's because the report was the last one Aphria will put out, as it has now closed a previously announced transaction that merged the two companies into what is now the new Tilray. The newly combined company using the Tilray name is being led by former Aphria CEO Irwin Simon.
Image source: Getty Images.
Source Fool.com
