11X Stock Market Accelerator Summit

Eric Fry reveals how an A.I.-based secret could make you up to 11 times RICHER on the same stocks you’re investing in now… without using options, leverage, or anything risky.

Wed, September 27 at 8:00PM ET

Dear Tilray (TLRY) Stock Fans, Mark Your Calendars for April 6


Tilray (NASDAQ:TLRY), one of the most influential cannabis stocks on the market, continues to provide an exhilarating option for traders and speculators to place their bets on the future of this nascent industry. Indeed, the price action with TLRY stock has been incredible in recent weeks. Since mid-March, shares have almost doubled. That’s despite some recent weakness over the past five trading days.

Tilray (TLRY) logo on a web browser.
Source: Jarretera / Shutterstock.com

Like other high-growth sectors, cannabis has been extremely volatile in recent years. Tilray surged a number of times, first when Canada legalized recreational use and then on news that the U.S. would have Democratic majorities in the Senate and House of Representatives. Thus far, little tangible progress has been made on federal legalization in the U.S. However, investors’ hopes have risen as a result of the recent passing of the MORE Act in the House.

Whether this legislation gets through the Senate or not remains to be seen. However, there is now a catalyst investors have to focus on. And near-term volatility can be a trader’s best friend. Such has been the case with Tilray in recent weeks.

Let’s dive into the next potential catalyst that could take TLRY stock on a run.

Investors Eyeing Earnings for TLRY Stock on April 6

As pointed out by fellow InvestorPlace contributor Vandita Jadeja in a recent piece, Tilray’s upcoming earnings on April 6 could be a significant catalyst. Whether TLRY stock surges or slumps following the quarterly report to be seen. However, this is undoubtedly going to be a high-volatility event.

So what do you need to watch this week? As Jadeja reported, analysts are looking for revenue of $247.29 million.

Beyond that, investors may be looking for insight into how the company plans to grow its market share and diversify its business. Tilray currently focuses on the Canadian market. That means investors may be curious for updates on how executives are viewing discussion of the MORE Act in the U.S.

Right now, Tilray remains one of the most speculative names on the market. However, with speculation back in favor on Wall Street and legislation up for debate, this earnings call is one to follow.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Chris MacDonald’s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.

Article printed from InvestorPlace Media, https://investorplace.com/2022/04/dear-tilray-tlry-stock-fans-mark-your-calendars-for-april-6/.

©2023 InvestorPlace Media, LLC