Why Aurora Cannabis, Canopy Growth, and Tilray Stocks Glowed Green on Friday
Another day, another marijuana earnings report, and another rally in marijuana stocks! Much like Wednesday's earnings report from Canopy Growth (NASDAQ: CGC) set off a (short-lived) rally in share prices at Aurora Cannabis (NASDAQ: ACB) and Tilray Brands (NASDAQ: TLRY) on Wednesday, on Friday good news from Aurora Cannabis is helping to boost the stock prices of Canopy and Tilray.
As of 10:55 a.m. ET, Aurora Cannabis stock is up a strong 16.4%, while Canopy is getting a 10% boost and Tilray is bringing up the rear with a 7.2% gain.
Exactly how good was Aurora's earnings report? Revenue for the fiscal first quarter of 2023 was 49.3 million Canadian dollars, down 18% year over year, with medical marijuana sales down 23% and consumer sales down 28%. That's not a particularly great start.
Source Fool.com
