The Canadian pot producer recently completed merger with Aphria, making Tilray stock a bigger player in the marijuana industry. For more industry news on pot stocks, check out “Are Any Canadian Marijuana Stocks Good Buys As Earnings Disappoint?“
When you’re researching the best stocks to buy and watch, be sure to pay attention to relative price strength.
This exclusive rating from Investor’s Business Daily tracks share price action with a 1 (worst) to 99 (best) score. The grade shows how a stock’s price performance over the trailing 52 weeks holds up against all the other stocks in our database.
History shows that the market’s biggest winners often have an 80 or better RS Rating as they launch their biggest runs.
Since hitting a 52-week high of 67 on Feb. 10, Tilray stock has pulled back in a distribution along with most growth stocks. It’s currently out of buy range after clearing a 12.25 buy point in a first-stage cup without handle in January. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line. Check out “Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks.”
The Canadian marijuana company posted negative growth for both the top and bottom lines last quarter. Most companies in this sector has yet to post profits, but may see potential future growth as regulation eases in the U.S.
The company holds the No. 11 rank among its peers in the Consumer Products-Specialty industry group. Central Garden & Pet (CENT) and Energizer (ENR) are also among the group’s highest-rated stocks. Other Cannabis stocks in the industry include Canopy Growth (CGC) and Cronos Group (CRON).
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