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Why Tilray Investors Got Burned 30% in June

·2 min read
Why Tilray Investors Got Burned 30% in June
In this article:
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Shares of Tilray (NASDAQ: TLRY) went up in smoke in June, losing 30.2% of their value, according to data provided by S&P Global Market Intelligence, after analysts slashed their price targets on the Canadian marijuana producer amid market turmoil. There are significant headwinds confronting Tilray and other marijuana stocks, such that even the pot producer's strategic alliance with Hexo (NASDAQ: HEXO) was rewritten to make the terms more favorable in light of market conditions and the possibility that pre-closing minimum liquidity conditions could not be met.