Tilray Remains Firmly Negative After Early Sell-Off

(RTTNews) - After falling sharply early in the session, shares of Tilray, Inc. (TLRY) continue to see significant weakness in afternoon trading on Wednesday. Tilray is currently down by 9.8 percent.

The steep drop by Tilray comes after the Canadian cannabis producer reported a wider third net loss on slightly weaker than expected revenues.

Tilray reported a third quarter net loss of $18.7 million or $0.20 per share compared to a loss of $1.8 million or $0.02 per share a year ago.

Excluding non-cash compensation, Tilray reported a narrower than expected loss of $0.08 per share, although its revenues of $10.0 million came in just below estimates for $10.1 million.