Meme Stocks Rebounded in Morning Trading After Tilray’s News; Sundial Growers Soared Over 8% While ContextLogic and Tupperware Jumped Over 4%

Tiger Newspress2023-07-26

Meme stocks rebounded in morning trading after Tilray Inc.’s news; Sundial Growers Inc. soared over 8% while ContextLogic Inc. and Tupperware jumped over 4%.

Tilray Inc.reported a loss of $120 million, or 15 cents a share, in the quarter ended May 31, compared with a loss of $458 million, or 99 cents a share, a year earlier. Analysts polled by FactSet expected a per-share loss of four cents.

The company's revenue rose 20% to $184 million, beating the $154 million forecast by analysts polled by FactSet.

Tilray said it expects its adjusted earnings before interest, taxes, depreciation and amortization to grow 11% to 27% in the next fiscal year, with positive adjusted free cash flow.

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