GLJ Research analyst Gordon Johnson lowered the firm's price target on Tilray to $0 from $5 and keeps a Sell rating on the shares after its Q4 earnings miss. The analyst notes that the company's performance "just got a lot uglier" as it took a $112M asset writedown in Q4 alone, with revenue also falling sequentially by over 8%. Johnson further cites Tilray's $68.6M in inventory valuation adjustments equating to over 41% of the company's FY19 sales as well as its additional $60M debt issuance taken on February 28th and thus doubling its quarterly interest expense.

In this week's "Rising High," The Fly's recurring series focused on cannabis and psychedelic stock news, The Fly looks back on study dosing, a completed acquisition and a research partnership. ATAI ANNOUNCES DOSING... To see the rest of the story go to thefly.com. See Story Here

Tilray Brands celebrated 420 with an unprecedented display of community and craftsmanship, with over 20,000 guests attending Tilray's 420 weekend events of vibrant festivals and environmental advocacy. "As a company, we recognize the cultural significance of 420 and its impact on the cannabis industry. By celebrating this day across our brands, we not only honor the traditions of our consumers but also continue to push the boundaries of innovation and progress across both cannabis and craft beer industries," said Irwin Simon, Chairman and CEO, Tilray Brands. "Tilray Brands will continue to connect with consumers across the U.S. and international markets through more festivals, concerts, and events that bring together our passionate community. We will continue to collaborate with like-minded partners who share our values and vision and work towards creating meaningful experiences that are fun and that empower our consumers."