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Thought I’d provide an update on Tilray!
Tilray Stock ($TLRY) has performed very well since the merger completion with Aphria. Irwin Simon is now in charge of the company and publicly said he is a big fan of how WallStreetBets is a fan of TLRY Stock.
Today, on June 10th, a special shareholder letter was sent out which includes new proposals that would need to be approved for by shareholders.
SEE THE LETTER HERE: https://ir.tilray.com/static-files/efa94ed0-c530-42c4-b46e-b50f45853733
The important part of this letter is the fact that they want to be able to issue up to 990,000,000 shares of common and preferred stock. Yes, this is A LOT of shares….
What this all means is that Tilray could be setting themselves up to make some MAJOR moves in the near future. This could include mergers, acquisitions, and even joint venture.
What shareholders must decide is whether they should trust management to dilute and spend the money in the right places. In my opinion, they only really have a few chances to spend 1+ Billion(s). If they mess up, the Tilray $TLRY stock will forever be diluted and they could end up like Aurora Cannabis.
What are your thoughts of possible dilution for Tilray. Does it scare you? It is still one of the most popular cannabis stocks out there today.
#TLRY #Tilray #stocks
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