Why Tilray Stock Is Tanking Today

Shares of Tilray (NASDAQ: TLRY) are tanking today, down by 10.3% as of 10:40 a.m. EDT. The big drop reflects investors' disappointment with the Canadian cannabis producer's second-quarter results, which were announced on Tuesday after the market closed.

Analysts expected Tilray to post a net loss of $0.25 per share. However, the company actually reported an adjusted net loss of $0.32 per share. Without the adjustments, Tilray's net loss was $35.1 million, or $0.36 per share, compared to a net loss of $12.8 million, or $0.17 per share, in the second quarter of 2018. 

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Source Fool.com