Tilray Jumps as Tailwinds Ahead: Cantor Fitzgerald By Investing.com

By Christiana Sciaudone

Investing.com — Tilray (NASDAQ:TLRY) jumped more than 10% after Cantor Fitzgerald resumed coverage with a buy-equivalent rating. 

Analyst Pablo Zuanic sees favorable tailwinds in the months ahead thanks to post-Covid demand recovery and U.S. deregulation, StreetInsider reported.   

Shares of Tilray have slumped about 70% since they hit a record in February amid the meme stock madness, which saw retail traders drive up the value of certain companies in a bid to hurt institutional investors who were betting against them.

Aphria (NASDAQ:APHA) and Tilray completed a $4 billion merger last month, combining the former’s leading position in Canada with the latter’s strength in international markets, Zuanic said.

Earlier this week, Amazon (NASDAQ:AMZN) said it would support a bill to legalize marijuana.