Why Marijuana Stocks Got Burnt Today
Tuesday is turning into a lousy day to own marijuana stocks, as bad news from cannabis company Tilray Brands (NASDAQ: TLRY) is taking a toll on pretty much every other marijuana stock out there. Tilray reported a miss on sales this morning and a $0.12 per-share net loss.
Shares of Cronos Group (NASDAQ: CRON), Canopy Growth (NASDAQ: CGC), and Aurora Cannabis (NASDAQ: ACB) are all suffering as a result, down 3.5%, 7.8%, and 8.5%, respectively, as of 12 p.m. ET.
How bad was Tilray's news, and was it bad enough to justify the reaction to other marijuana stocks? It depends on how you look at it.
Source Fool.com
