Tilray Q2 2022 earning results
Tilray Inc. (NASDAQ: TLRY) has reported today (Jan. 10, 2021) the second quarter of 2022. Against all odds, the company reported a 20% increase in sales due to higher demand for cannabis products and other goods. The stock is now trading at $7.02, reporting a 9.27% increase at market opening. On the same day, the stock has reached a +12.15% increase in price following the quarter results during pre-market.
According to analysts, the Omicron variant has increased demand from homebound cannabis-related products. While new, marijuana-friendly legal reforms such as federal banking access have encouraged investor confidence.
Tilray Inc. has reported a $155 million revenue growth during this quarter, compared to $129 million revenue last year. In addition, the corporation made $6 million in net profit for the third quarter compared with an $89 million loss the previous year.
It’s no secret that the marijuana industry will keep booming in 2022. With more U.S. states legalizing recreational use and other countries following, the industry has generated billions in revenue for businesses selling everything from marijuana-themed novelty items to CBD oils and vape pens. However, it hasn’t always been the case. During Q1 2022, instead, Tilay has posted a decrease of -7.90% in revenues. As a result, investors, from their side, have lost interest in the cannabis industry.
Tilray and the cannabis industry
Tilray is a global pioneer in research, cultivation, production, and distribution of medical cannabis. The company operates one of the largest fully licensed medical cannabis cultivation facilities globally.
Tilray was founded to serve medical cannabis patients through the application of modern science and technology. They are committed to finding the best ways to harness our deep expertise in extracting, isolating, refining, and delivering cannabis products for medicine.
The company has made significant investments to build the infrastructure necessary for success in this competitive industry. They aim to be an important part of the solution for individuals seeking relief from pain-associated conditions and their families seeking an alternative treatment option.
Tilray Canada Ltd. was formed due to a joint venture between Canopy Growth Corporation and Privateer Holdings Inc., both established leaders in legal cannabis. These two partners share a deep commitment to investing in the Canadian economy, building sustainable communities by focusing on education, social justice reform, and reducing stigma around mental illness and addiction. Tilray has invested over $150 million into British Columbia’s economy from its operations from coast to coast. Recently they have been awarded investment from TSX Group for their new facility opening shortly. Tilray also received approval for two additional licenses that will allow them to expand their current facility even more and produce cannabis products for sale in markets across North America.
Cannabis stocks in 2022
The cannabis industry is one of the fastest-growing industries in the country. With lock-down appearing again in the post-pandemic world, this industry has seen increased demand for its products. With no signs of slowing down, many investors are looking to cash in on the “green rush” by investing in cannabis stocks. Weed stocks are now emerging as one of the hottest investments around. How do you know which ones to invest in? Follow these three steps, and you’ll be well on your way to having a profitable portfolio.
1) Research cannabis companies with valuable technology or patents that will benefit them long-term.
2) Know what type of investor you are before buying any weed stocks. For example, are you looking for long-term gains, or would you rather invest in short-term gains?
3) Establish a diversified portfolio consisting of many different types of weed stocks so that if one investment fails, your other investments will still be valuable.
