Tilray will report earnings after tomorrow's close
Weed stocks will have the chance to react to earnings this week, with several marijuana companies set to report. Tilray Inc (NASDAQ:TLRY) is set to release its third-quarter report after the market closes this Tuesday, Nov. 13. Ahead of the event, the stock is down 0.1% today to trade at $107.82, but options traders are anticipating another big post-earnings move.
After TLRY's first earnings report back in late August, the stock surged 20.6% in the subsequent session. This time around, the options market is pricing in a 27.3% post-earnings move for the equity, according to implied earnings deviation data.
On the charts, Tilray stock has added a whopping 368% since its July 19 open at $23.10, after the firm priced its initial public offering (IPO) at $17 per share the day before. The shares pulled back sharply from their record high of $300 on Sept. 19, but quickly bounced off the $90 level late last month.
Analysts remain split over the pot stock. Of the five brokerages covering the security, two rate it a "buy," and three rate it a tepid "hold." Further, its consensus 12-month price target of $147.33 is a 38% premium to today's current perch.