TLRY Stock Price and Forecast: Tilray Inc downgraded by Piper Sandler but raises price target to $26
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UNLOCK OFFER- TLRY downgraded by Piper Sandler but raises price target to $26.
- Tilray is the focus of retail investor interest pushing cannabis stocks.
- TLRY is a Canadian cannabis producer, shares up 300% in 2021!
Update February 18: Shares in Tilray brushed off a downgrade from Piper sandler on Thursday and remain strong. TLRY shares are trading at $33.61 in Thursday's pre-market, a gain of 6%. Piper Sandler raised the price target from $15 to $26 but downgraded it's rating to neutral.
TLRY has latched onto the pot boom for 2021 as retail traders look to jump on the next big thing.
Cannabis shares have been the hot trend of 2021 as investors look for the US market to open up and follow the Canadian liberalization of cannabis markets. Canada opened up its cannabis market in 2018. The new US administration, under President Biden, is seen as more amenable to opening up the cannabis market, compared to the previous administration.
Coupled with this has been the flood of new retail entrants to the trading arena. With time to spare and in some cases stimulus cash to invest, they have been wielding considerable influence on the stock market so far in 2021.
Tilray is a Canadian cannabis grower and as a result, the bulk of its sales are in Canada. But it has some other strings to its bow. Tilray has production facilities in Europe to try and tap into that growing market. Tilray also has a partnership with AB InBev to produce cannabis-infused drinks.
TLRY Stock news
Tilray shares have been on a rollercoaster ride, shooting up to $76 on Wednesday before collapsing back to $31 at the time of writing.
The rise-and-fall has largely been attributed to the Reddit phenomenon, with TLRY and other cannabis stocks trending on the retail websites and the interest skyrocketing. Some cannabis stocks also were significantly shorted which led to the rally.
On Thursday many market commentators and analysts downgraded their views on cannabis stocks which saw sharp declines across the sector.
GLJ analyst Gordon Johnson reiterated his sell rating on Tilray (TLRY) with a $0 price target.
Should I Buy TLRY now?
Well, the answer with all these speculative shares is to be prepared for losses and only invest what you can afford to lose.
TLRY is a highly speculative play and as can be seen from its price action, discretion and risk management is required.
The author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
This article is for information purposes only. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. It is important to perform your own research before making any investment and take independent advice from a registered investment advisor.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to accuracy, completeness, or the suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. The author will not be held responsible for information that is found at the end of links posted on this page.
- TLRY downgraded by Piper Sandler but raises price target to $26.
- Tilray is the focus of retail investor interest pushing cannabis stocks.
- TLRY is a Canadian cannabis producer, shares up 300% in 2021!
Update February 18: Shares in Tilray brushed off a downgrade from Piper sandler on Thursday and remain strong. TLRY shares are trading at $33.61 in Thursday's pre-market, a gain of 6%. Piper Sandler raised the price target from $15 to $26 but downgraded it's rating to neutral.
TLRY has latched onto the pot boom for 2021 as retail traders look to jump on the next big thing.
Cannabis shares have been the hot trend of 2021 as investors look for the US market to open up and follow the Canadian liberalization of cannabis markets. Canada opened up its cannabis market in 2018. The new US administration, under President Biden, is seen as more amenable to opening up the cannabis market, compared to the previous administration.
Coupled with this has been the flood of new retail entrants to the trading arena. With time to spare and in some cases stimulus cash to invest, they have been wielding considerable influence on the stock market so far in 2021.
Tilray is a Canadian cannabis grower and as a result, the bulk of its sales are in Canada. But it has some other strings to its bow. Tilray has production facilities in Europe to try and tap into that growing market. Tilray also has a partnership with AB InBev to produce cannabis-infused drinks.
TLRY Stock news
Tilray shares have been on a rollercoaster ride, shooting up to $76 on Wednesday before collapsing back to $31 at the time of writing.
The rise-and-fall has largely been attributed to the Reddit phenomenon, with TLRY and other cannabis stocks trending on the retail websites and the interest skyrocketing. Some cannabis stocks also were significantly shorted which led to the rally.
On Thursday many market commentators and analysts downgraded their views on cannabis stocks which saw sharp declines across the sector.
GLJ analyst Gordon Johnson reiterated his sell rating on Tilray (TLRY) with a $0 price target.
Should I Buy TLRY now?
Well, the answer with all these speculative shares is to be prepared for losses and only invest what you can afford to lose.
TLRY is a highly speculative play and as can be seen from its price action, discretion and risk management is required.
The author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
This article is for information purposes only. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. It is important to perform your own research before making any investment and take independent advice from a registered investment advisor.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to accuracy, completeness, or the suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. The author will not be held responsible for information that is found at the end of links posted on this page.
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