1 Thing Tilray Investors Need to Brace for This Year
Tilray Brands (NASDAQ: TLRY) and other Canadian cannabis companies have struggled to generate growth, as competition has been rising over the years and there hasn't been enough demand to go around. And there hasn't been any significant progress in legalizing marijuana in the U.S. and other parts of the world to help up open new growth opportunities.
But as gloomy as things might look for some pot stocks right now, they could be especially bad for Tilray.
On Jan. 9, Tilray released its second-quarter earnings numbers, which failed to impress. Net revenue of $144.1 million for the period ending Nov. 30, 2022, was down 7% from the prior-year period as the company's top line continues to struggle. And while Tilray will boast of it being the 15th straight quarter of positive adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), it also reported a hefty net loss of $61.6 million.
Source Fool.com
