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19.08.2021 22:04:36

Why Aurora Cannabis, Tilray, and Sundial Growers Stocks Tumbled Today

Marijuana stocks got thrown for a loop on Thursday, and shares of Aurora Cannabis (NASDAQ: ACB) are trading down 3.6% as of 3:40 p.m. EDT, followed by Sundial Growers (NASDAQ: SNDL) with a 4% loss, and Tilray (NASDAQ: TLRY) down 4.4%.It's rarely easy to put your finger on what exactly causes a marijuana stock to go up or down. None of these stocks are profitable, after all, and according to Wall Street analysts polled by S&P Global Market Intelligence, profitability remains at least a few years away for most of them.Sundial, for example, isn't expected to turn a profit according to generally accepted accounting principles (GAAP) before 2023, if then. Tilray won't earn anything before 2025, and Aurora Cannabis -- well, it's anybody's guess when Aurora might earn a profit. Analysts forecast nothing but losses as far out as the eye can see.Continue reading
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