Why Tilray (TLRY) Stock Retreats Sharply From The Recent Peak

Tilray (NASDAQ: TLRY) will soon become the biggest retail cannabis company as it anticipates a merger with Aphria (NASDAQ: APHA) mid this month.

For now, Tilray investors should look for and be excited with any share price pullback. This is because, after the merger, such pullback will not be easy to come. At the beginning of this year, investors were afraid of missing out, which drove the stock to more than $60 per share. However, the stock has since dropped and currently trades at around $30, leaving bulls concerning how low bears can drive TLRY stock. But with the merger date approaching, bulls will have a chance to be in control.

Interestingly, Tilray was not like “meme stocks” because it was surging on actionable news. Investors have learned about the proposed reverse merger, which will see the combined company trade under the TLRY ticker. The stock is fading ahead of the merger due to investors seeing it as fully valued. Therefore, TLRY is the stock to watch in the coming weeks.

Richard McEntire

Finance and Entertainment ReporterRichard is a bottle of wine - the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.

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