TLRY Buy opportunity

10 Apr 2021

Hello traders, as we see cannabis stocks are being beaten down however fundamentals have been improving. It has become apparent that a merger is very likely for Tillay and Aphria. While other companies like canopy growth are announcing to be profitable it seems like the industry is turning around. There can be many reasons why this market is so volatile. One significant one can be option rollovers due to the new option chain that will be available for investors post merger. When looking at which funds are holding cannabis stocks you can see famous names like Goldman Sachs investing into cannabis which I hadn't seen before. Looking at technicals we are sitting on a very important support line and with Aphria announcing earnings on Monday we can see where we are heading to. My prediction is that when they announce good earnings they will run up again. Legalization news will also give this industry some momentum so I believe good things are ahead despite the stock being at the pit of despair.