- NASDAQ:TLRY fell by 3.73% during Friday’s trading session.
- The MORE Act passes the floor vote in the House of Representatives.
- Tilray announces its earnings call will be on April 6th, 2022.
NASDAQ:TLRY extended its losses for the week despite the MORE Act receiving a pivotal vote in the House of Representatives on Friday. Shares of TLRY fell by 3.73% and closed the trading week at $7.48. Stocks kicked the second quarter of 2022 on the front foot as all three major indices climbed during the first trading day of April. The first quarter was certainly one to forget for investors as it was the worst performance from US markets in over two years. On Friday, the Dow Jones added 139 basis points and the S&P 500 and NASDAQ rose by 0.34% and 0.29% respectively during the session.
Stay up to speed with hot stocks' news!
The MORE Act finally made its way to a vote on the floor of the House of Representatives on Friday, and as expected, the vote passed to federally legalized cannabis. The vote still has to pass through the Senate where the Act stalled in 2020, and Wall Street isn’t too positive on the prospects of the vote passing this time around either. If it is, cannabis and its product would be legal on a federal level, and those serving jail time for the possession of cannabis would likely get their records expunged for those charges.
TILRAY stock forecast
Earlier this week, Tilray also announced that it will be reporting its fiscal third quarter earnings on April 6th, 2022 before the markets open. Shares of TLRY closed the week down by 6.03%, as volatility surrounding the MORE Act vote hit the cannabis sector. Last earnings call, TIlray posted a positive net income and a 20% sequential rise in net revenues from the previous quarter.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, 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.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or 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. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Follow us on Telegram
Stay updated of all the news
AUD/USD storms through 0.6600 on risk rally as US averts default, NFP eyed
AUD/USD is extending its rally above 0.6600, helped by a risk-on market profile on the US NFP day. Investors cheer the Congressional approval of the US debt-ceiling suspension, which will avert a US default. China techs rally and broad US Dollar weakness aid the Aussie.
EUR/USD bulls flex muscles near 1.0780 hurdle amid mixed feelings of ECB, Fed hawks, focus on US NFP
EUR/USD clings to mild gains around 1.0760-65 as it lacks follow through of the previous day’s heavy run-up amid the market’s cautious mood ahead of the key US employment data. Softer Eurozone inflation, mixed comments from ECB officials prod Euro buyers.
Gold bulls can stay hopeful above $1,968, US NFP, Fed clues eyed
Gold remains around weekly top, grinds higher past key support confluence. Cautious optimism ahead of the US NFP, absence of major data/events prod XAU/USD bulls of late. Reconfiguration of Fed bets, optimism about US debt-ceiling deal keeps buyers hopeful.
Pro-XRP lawyer: Ripple losing the SEC lawsuit might be a blessing in disguise
XRP price made a decent recovery in the month of May, fueled by Ripple's chances of winning the lawsuit it is facing against the Security and Exchange Commission (SEC). The cryptocurrency has amassed a huge base of supporters, which might potentially expand further regardless of the outcome.
The June rate hike needle has been moved precipitously lower
Even though equity market investors had, for the most part, looked through the debt ceiling drama, US stocks still rallied in relief rally fashion as investors revelled after perhaps one of the most significant economic downside risks of the year had been skirted.