Company News

BUZZ-Tilray surges ahead of qtrly results due Tuesday; could stock take a hit?

** Tilray surging as PE-backed Canadian medical marijuana co gets set to report qtrly results for first time as a public entity after markets close on Tues

** TLRY up 30 pct on Mon, climbing along with stocks of other cannabis producers as M&A chatter, supply deals continue

** Tilray’s stock is now up 50 pct in past two sessions and has more than tripled from its Jul IPO price

** The stock’s recent ascent was sparked by Constellation Brands’ $4 bln infusion in Canopy Growth , largest investment in the cannabis industry by far

** Indeed, co now vying for best 2018 IPO performer: medical tech co Inspire Medical Systems is currently No. 1 with a 240 pct return, next is Tilray (232 pct) and software firm Zscaler (~200 pct) (Thomson Reuters data)

** To put things in perspective, Tilray is trading at market value of ~$5 bln, or 250x sales (based on $20.5 mln of revenues at end-2017)

** Tilray expected to post Q2 2018 revenues of $9.01 mln and adj loss of 9 cents/sh based on avg estimates of 3 analysts (TR data)