Breakingviews - Tilray gives investors a whiff of good news
, which closed in May last year, also appears to be on track. The company expects to reach its original $80 million annual cost-cutting target ahead of schedule and generate an additional $20 million in synergies.
That’s not a bad position to be in for Tilray Brands, the company's new name. Profitability has been elusive for many producers in Canada, while once hyped-up valuations have fallen across the board. Like others itching to access the more lucrative U.S. market , Tilray is hanging its hopes on the hazy prospect of federal legalization. Yet the sector has become increasingly competitive. It’s no wonder investors are clinging onto any good news.
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