Tilray (NASDAQ:), now the largest cannabis company in the world, is also currently offering great performance.
In the past year, after being bought by Canada-based Aphria (NASDAQ:), newly merged company adopted the Tilray name. The stock hit some impressive highs in March of this year and has since lost some ground. But if you compare the performance since August 2020, Tilray has performed well. In fact, it has delivered a percentage that is better than some of the big names in the tech world, such as Tesla (NASDAQ:) and Facebook (NASDAQ:).
more than doubled, at just over 103%.
As for Tesla, shares are up about 60%, while Facebook is up about 27%.
Yesterday, Tilray closed at $13.13 on the NASDAQ, down slightly more than 2% on the day.
At the end of last month, when Tilray reported its last report for the three-month period ending May 31, it posted net income of C$33.6 million (US$26.7 million). ), while earnings before interest, taxes, depreciation and amortization nearly quadrupled to C$12.3 million (US$9.77 million). This was the first quarterly report since the merger of Tilray and Aphria. The biggest revenue generator for Tilray is medical cannabis, which sets it apart from most of the other major players in the industry that focus on recreational weed. . The results also bolster support for a return to the bigger-is-better philosophy of how cannabis businesses can grow and succeed.
What's happening in Vegas….
A cannabis stock making a few waves is Planet 13 Holdings (OTC:). The latest profit, released last week, posted some great numbers — second-quarter revenue tripled to $32.8 million. The Nevada-based company, perhaps best known for its wildly popular Las Vegas store, proved the difference reopening the economy and returning to tourism can make.
“Q2 was a strong quarter for Planet 13. With tourism back, the Superstore shopping experience once again proves it's on the must-visit list for any trip to Vegas,” company CEO Larry Scheffler said in a statement. But the company isn't just counting on the tried and true. It opened a new outlet of its SuperStore in California and plans to open another in the Chicago area later this year.
The question now is, can what happens in Vegas be reproduced elsewhere? of Planet 13 peaked immediately after its earnings report was unveiled on August 26, reaching $5.12, but those gains have since declined. closed at $4.93 yesterday, down 2.35% on the day.
However, in the past year, Planet 13 has gained nearly 49.5%.
