Are you ready for Tilray’s upbeat earnings report on Wednesday?
It could send Tilray shares surging above $140.
Back on Aug. 28, Tilray reported a blowout quarter, with revenues jumping 95%.
The strong earnings report was complimented with an announcement that Tilray inked a cannabis supply agreement with Nova Scotia.
CEO Brendan Kennedy took to CNBC to revel in the company’s blowout results.
In fact, he predicted that “cannabis globally is disrupting the pharmaceutical industry, the alcohol industry, and the tobacco industry. I definitely expect additional strategic investors to invest in the industry in the coming months.”
That news sent the stock surging 21% following the earnings report!
Two weeks later, the stock was at $105 per share!
Could we see a similar performance after Tilray reports earnings today?
At 4 p.m. Eastern Time, the company will report Tilray earnings results. At 4:30 p.m., management will host a call with analysts. And you can be sure that I’ll be tuning into the call for the full results.
Analysts expect revenues to top $13 million – a 37% increase.
Most important will be any news related to the company’s future growth. Plus, I’m expecting some details on the first few weeks of sales in Canada’s recreational cannabis market.
Tilray has supply agreements with seven Canadian provinces. These deals mean the company is supplying cannabis for the recreational market that launched on Oct. 17.
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Full Disclosure: Ian Wyatt currently owns shares of Tilray.