Shares of Tilray (TLRY) are rising Tuesday ahead of the cannabis company's second-quarter earnings release after the closing bell.
Analysts are expecting the Nanaimo, British Columbia, company to more than quadruple revenue year over year to about $41.1 million with a net loss of 25 cents a share.
Wall Street expects the company's gross margin to narrow to 27.8% from 42.9%.
Tilray is RealMoney's Stock of the Day Tuesday.
A beat by Tilray could be a shot of medicine for the cannabis sector, which struggled in July.
Tilray itself fell nearly 12% in the month, while CannTrust (CTST) declined 54%, Aurora Cannabis (ACB) dropped 20%, Canopy Growth (CGC) dropped 20% Aphria (APHA) dropped 21% and Hexo (HEXO) dropped 21%.
Tilray shares are up 3.7% to $44.04
Hexo Corp. shares are up 1.1% to $4.81
Aphria shares are up 3.66% to $6.80
Canopy Growth shares are up 1.77% to $33.45
Aurora Cannabis was up 0.3% to $6.61
