Company News

BUZZ-Aurora Cannabis falls on revenue miss, Tilray gains on biggest sales beat ever

** Shares of Tilray Inc rise 3.1% while those of U.S.-listed Aurora Cannabis Inc fall 4.8% premarket following quarterly results

** Tilray posts Q1 revenue above expectations while Aurora misses Q3 sales estimates

** Both companies did however report a jump in sales sequentially, thanks to higher demand following the legalization of recreational cannabis in Canada

** ACB misses revenue expectations after a beat in the previous quarter - Refinitiv data

** RBC Capital Markets says ACB’s results indicated that cannabis oil extraction capacity remained a constraint

** TLRY beats revenue expectations by the biggest margin ever as a publicly listed company - Refinitiv

** Eight Capital says TLRY continues to get interest from Fortune 500 companies that want to gain exposure to the cannabis industry

** Horizons Marijuana Life Sciences ETF up 41.6% this year, while ETFMG Alternative Harvest ETF rose 33.5%

** Shares of other cannabis companies rose with Cronos Group , Hexo Corp, Canopy Growth Corp up between 0.8% and 2.3%

** As of Tuesday’s close, TLRY shares have tumbled nearly 31% this year while those of ACB’s have risen almost 69% YTD (Reporting By Aparajita Saxena and Shreyashi Sanyal in Bengaluru)