1151 ET - Tilray's recent run of weak Canadian adult-use cannabis sales should start to turn around now that the company has completed capital investments aimed at sprucing up its participation in the vape and infused pre-roll categories, TD Cowen analysts say in a research note. The company had been choosing not to participate in the two categories, which carry higher taxes and lower margins, as they were seeing significant price deflation across the industry, the analysts say. But Tilray recently invested in a facility that allows it to use more cannabis byproducts as inputs for vapes and infused pre-rolls, allowing for better economies of scale, they say. The facility is now operational, so adult-use trends should improve sequentially in 3Q, the analysts say. (dean.seal@wsj.com)
(END) Dow Jones Newswires
January 14, 2025 11:51 ET (16:51 GMT)
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