Why Aphria and Tilray Stocks Are Tanking Today

Shares of Aphria (NASDAQ: APHA) were tanking by 13.2% as of 10:16 a.m. EDT on Monday while shares of Tilray (NASDAQ: TLRY) were falling by 11.9%. The declines for both stocks came after Aphria reported disappointing fiscal 2021 third-quarter results before the market opened on Monday.

Aphria badly missed analysts' top- and bottom-line estimates for the third quarter. The Canadian cannabis producer's net revenue slipped 6% year over year to 153.6 million Canadian dollars. Aphria posted an adjusted net loss of CA$47.9 million in Q3, much worse than its adjusted net loss of CA$9.8 million in the prior-year period.

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Source Fool.com