The Week In Cannabis: The New Tilray, Jazz-GW Pharma, Earnings, M&A, And More
Friday, 7 May 2021, 23:36:03
This was an eventful week for the cannabis industry. On Monday, Tilray, Inc. (NASDAQ: TLRY ) and Aphria, Inc. (NASDAQ: APHA ) closed their merger after months of negotiations, creating a company with a combined market cap of $3.3 billion. Benzinga spoke with Irwin Simon, CEO of the new combined company. Check out the video below: Following the merger, Jefferies upgraded the rating for Tilray from Underperform to Buy, while raising the price target from $4.77 to $23. Jazz Pharmaceuticals (NASDAQ: JAZZ ) finalized its acquisition of GW Pharmaceuticals plc. (NASDAQ: GWPH ), the producer of the FDA‑approved prescription cannabidiol drug Epidiolex, for $7.2 billion or $6.7 billion net of GW Pharma's cash. Meanwhile, Ascend Wellness Holdings (CSE: AAWH) started trading on the Canadian Securities exchange following a raise of approximately $80 million through an initial public offering of roughly 10 million shares of its Class A common stock at $8 per share. Benzinga Cannabis’ content is now available in Spanish on El Planteo .
Tilray Stock Is Getting Squeezed Between 2 Key Levels
Friday, 7 May 2021, 22:06:16
Tilray Inc. (NASDAQ: TLRY ) shares were trading higher Friday after a Jefferies analyst double upgraded the stock. The stock was double upgraded from Underperform to Buy and the price target was raised from $4.77 to $23. Tilray recently closed a merger with Aphria Inc. (NASDAQ: APHA ). Click here to read more about why Tilray is moving. Tilray was up 14.7% at $16.23 ahead of the market close Friday. Tilray Daily Chart Analysis The stock is getting squeezed between a previous support and a potential resistance line. The stock may see a strong move in the upcoming weeks. The stock is trading below the 50-day moving average (green) and above the 200-day moving average (blue), indicating the stock is likely trading in a period of consolidation. The … Full story available on Benzinga.com
Tilray Jumps; Jefferies Double Upgrades on Link With Aphria – TheStreet
Friday, 7 May 2021, 14:51:12
Tilray was upgraded to buy from underperform at Jefferies, which sees ‘a perfect match' in its combination with Aphria.
— The Street
Video: Tilray CEO Discusses Aphria Merger, US Market Ambitions, Cannabis As A CPG Business, And More
Tuesday, 4 May 2021, 19:17:41
On Monday, the cannabis industry witnessed the creation of the world's largest cannabis company measured by revenue, as two Canadian giants, Tilray Inc. (NASDAQ: TLRY ) and Aphria Inc. (NASDAQ: APHA ), announced the closing of their merger . Tilray and Aphria had been in negotiations since fall 2020, which ultimately resulted in shareholders of both companies voting in favor of the merger . Irwin Simon, CEO of the ‘new' Tilray and former Aphria CEO, called Tilray “the right partner.” Shortly after the historic agreement was announced, Simon was a guest on Benzinga's Cannabis Insider show , co-hosted by Spencer Israel and Javier Hasse . “We had to do some consolidation there,” Simon said of the Canadian cannabis market. And while there were “stops and starts” during the merger talks with Brendan Kennedy, current director and former Tilray CEO, they finally sat down and came to a beneficial arrangement for shareholders of both companies, Simon told Cannabis Insider. “I think there are times individuals like to do something differently,” and “times you want to step back,” Simon commented on Kennedy taking a more passive role following the merger.
Tilray And Aphria Announce Closing Of Their Merger
Tuesday, 4 May 2021, 16:45:25
Tilray Inc (NASDAQ:TLRY)’s merger with Aphria Inc (TSE:APHA) has officially closed, creating the largest weed company in the world based on revenue. The combined company will operate as Tilray, and the two firms expect it to generate $81 million in pretax cost synergies within 18 months. Q1 2021 hedge fund letters, conferences and more Tilray […] The post Tilray And Aphria Announce Closing Of Their Merger appeared first on ValueWalk .
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