Stock Track | Tilray Inc. Soars 7.12% in Pre-Market on Strong Q2 Earnings and Cannabis Rescheduling Optimism-To The Moon - Tiger Brokers Online Investing Community

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Stock Track | Tilray Inc. Soars 7.12% in Pre-Market on Strong Q2 Earnings and Cannabis Rescheduling Optimism

Stock Track01-09

Tilray Inc. (TLRY) surged 7.12% in pre-market trading on Friday, driven by its strong fiscal Q2 earnings report and optimism surrounding potential U.S. cannabis rescheduling. The stock's movement reflects investor confidence in the company's growth trajectory.

The cannabis company reported earnings of $0.01 per share, significantly beating the consensus estimate of a $0.20 loss, while revenue rose to $217.5 million, exceeding expectations. CEO Irwin D. Simon attributed the performance to disciplined execution across Tilray's diversified portfolio, which includes cannabis, beverage, wellness, and distribution sectors.

Investors also reacted positively to Simon's comments on the potential rescheduling of cannabis in the U.S., which could pave the way for Tilray to expand its medical cannabis business. The company's readiness to leverage its global expertise in the U.S. market further bolstered sentiment.

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