20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Shares of Tilray Inc (NASDAQ:TLRY) are trading near flat in Monday's after-hours session after the company reported third-quarter financial results — and an acquisition. Here’s what investors need to know.
By The Numbers: Tilray reported third-quarter revenues of $145.6 million, which missed the average analyst estimate of $202.47 million, according to Benzinga Pro.
The company posted a loss of 4 cents per share.
Tilray had $164.99 million in cash and cash equivalents and marketable securities as of Feb. 28, 2023.
"During the quarter, we continued to focus on our highest priorities: sustaining and growing the top-line across core markets and geographies while optimizing the platform to achieve positive free cash flow on an accelerated timeline,” CEO Irwin Simon said in a statement.
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The company also announced its acquisition plans for Canadian cannabis producer Hexo Corp. (NASDAQ:HEXO), which is expected to cost around $250 million, according to Benzinga Pro.
“We are incredibly excited about our combined prospects moving forward with HEXO and expect a seamless integration of HEXO’s business into our efficient, built-to-last platform,” Simon continued.
Tilray is set to acquire Hexo by utilizing the $173-million secured convertible note it obtained from Hexo's former creditor in July 2022, thereby obtaining almost 49% of the company's equity, and paying an additional $75 million to purchase the remaining outstanding shares.
The company said said existing shareholders of both Tilray and Hexo are expected to hold approximately 97% and 3% of Tilray, respectively, on a pro forma basis.
TLRY Price Action: Tilray has a 52-week high of $6.80 and a 52-week low of $2.28. The stock was trading near flat at $2.65 in the after-hours session.
Photo via Shutterstock.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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