Tilray (TLRY) rose following its weaker-than-expected fourth-quarter earnings after-hours on Monday as well as early in Tuesday's session, but the stock turned red and fellow pot stocks traded mixed at midsay.
Tilray shares were down more than 2% Tuesday afternoon. The stock had risen 3% after hours Monday as the Canadian cannabis company reported a 204% increase in year-over-year revenue to $15.5 million, and a net loss of 33 cents per share. Analysts were expecting revenue of $14.1 million and a loss of just 14 cents per share.
For the full year, revenue increased 110% to $43.1 million, which also topped Wall Street's expectation of revenue of $41.8 million.
"2018 was a very successful year for Tilray with many corporate milestones. Our team made significant progress on our long-term initiatives including increasing production capacity, expanding and strengthening strategic partnerships, and acquiring complementary businesses to accelerate our future growth and leadership position in medical and adult-use cannabis," said CEO Brendan Kennedy.
Here is how other pot plays are performing in the wake of Tilray's results.
Cronos Group (CRON) was down 1.86%.
Aurora Cannabis (ACB) rose 1.05%.
Canopy Growth (CGC) gained 0.5%.
Aphria (APHA) was rising 0.7%.
ETFMG Alternative Harvest ETF (MJ) jumped 2%.
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