TLRY Stock Set to Snap Losing Streak on $3.3M Germany Deal

Tilray stock has been reeling since an earnings miss

Digital Content Manager
Aug 21, 2019 at 9:56 AM
facebook X logo linkedin

A Portuguese subsidiary of Tilray Inc (NASDAQ:TLRY) signed a deal with Cannamedical Pharma to ship $3.3 million worth of medical cannabis to Germany by the fall. "This is a significant milestone for Tilray," said CEO Brendan Kennedy. As a result, TLRY stock is up 3.9% at $30.45 -- set to snap its five-day losing streak. 

The losing streak started on Aug. 14, after Tilray reported disappointing earnings, and was exacerbated by an extreme bear note from Vertical Group. The equity subsequently touched a one-year low of $28.72 just yesterday, and Tilray's 14-day Relative Strength Index of 27 sits firmly in "oversold" territory. This means a short-term bounce may have been in the cards for the pot stock.

Vertical Group isn't the only one with reservations about TLRY. Eleven of the analysts following the stock consider it a "hold" or worse, while only three call it a "strong buy." On the other hand, the consensus 12-month target price of $64.40 more than doubles current levels. 

While short interest fell slightly during the last reporting period, the 6.71 million shares sold short represent a hefty 37.5% of the stock's available float. It would take nearly a week to cover all these pessimistic positions, at TLRY's average pace of trading. 


Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.

Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!




Rainmaker Ads CGI