Cannabis Earnings Are in – Here’s How to Play Them

0 | By Strategic Tech Investor Staff

You’ve no doubt heard about earnings reports coming out from top Canadian cannabis companies.

And the news has been a mixed bag.

Aurora Cannabis Inc. (NYSE:ACB), for instance, got the week started by reporting revenue of $22 million for its first fiscal quarter of 2019. That’s up 55% from the prior quarter – and 260% from the year-ago period.

As we’ve expected, growingly popular cannabis extracts have been a big seller for Aurora, making up some 30% of its total cannabis-based sales thus far. Further, the firm claims it owns almost a third of online recreational sales in Canada’s largest province, Ontario.

“The commencement of adult consumer use sales in Canada has been very successful for Aurora, with strong performance across all product categories and brands,” CEO Terry Booth said.

Remember Tilray Inc. (Nasdaq:TLRY)? That’s the cannabis superstar whose shares skyrocketed after joining the Nasdaq in June. Revenue for the firm, which it reported Wednesday, climbed 86% to $10 million from a year ago, with medical cannabis demand in and outside Canada accounting for most of the growth. However, the firm also reported a net loss of $18.7 million for the third quarter – and share prices dropped more than 5% on the news.

Here’s the thing. This is no time to panic about the fate of the cannabis industry, particularly the best firms in this space.

In fact, a whole new slew of profit catalysts are lining up right now that are going to send cannabis stocks soaring.

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