Tilray-Aphria merger will create the largest retail cannabis company in the world: Aphria CEO
Tilray-Aphria merger will create the largest retail cannabis company in the world: Aphria CEO
Aphria CEO Irwin Simon and Tilray CEO Brendan Kennedy discuss the merger of the two companies and the surge in cannabis stocks after New Jersey Governor Phil Murphy signed legislation to legalize marijuana into law, earlier this week. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
Aphria CEO Irwin Simon told CNBC on Wednesday he hopes to see marijuana fully legalized in the United States within the next two to three years. However, the pot executive expressed confidence the company’s ability to grow revenues irrespective of action from Washington.
Simon made the remarks in an interview on “Closing Bell” alongside Tilray CEO Brendan Kennedy. In December, the Canadian companies announced plans to merge in all-stock deal that would create the biggest cannabis producer by sales in the world.
“There’s a lot of unknown about what will happen in the U.S. but we’ll have the balance sheet, we’ll have the knowledge, we’ll have the brands, we’ll have the technology to be able to make a major impact once legalization happens,” Simon said. “I say full legalization in the next two to three years.”
Simon, who will lead the combined company once the deal closes, added that he’s “a big believer that legalization may happen in Germany and Portugal and some other countries before the U.S.”
Pot stocks have been rallying on the hopes of national legalization in the U.S., a move that would have major implications for companies in the industry. For example, the Amplify Seymour Cannabis ETF is up over 120% since Nov. 9, the first day of trading after most media outlets called the presidential election for Democrat Joe Biden.
Earlier this month, Senate Majority Leader Chuck Schumer, D-NY, put his support behind an effort to end the federal marijuana prohibition. Schumer, in a statement alongside Democratic senators Ron Wyden of Oregon and Cory Booker of New Jersey, said passing such legislation would be a priority this year.
A host of U.S. states have legalized marijuana in medical or recreational capacities. On Monday, New Jersey became the latest state to allow pot for recreational use when Gov. Phil Murphy signed a package of bills into law. However, current federal law prevents cannabis from being imported in the country and also limits the relationship industry players can have with financial institutions.
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ERBB. Become a millionaire with me
I bought Tilray at $40, don’t let me down!
So when they merge, Tilray will be the one ticker left in the market, shouldn’t we buying TLRY stocks instead of APHA?
Look at this market manipulation lol.
Put that vote in!!!!
Buy the dips in Apple, Amazon, Facebook.
Texas is snowed in and no electricity = tesla sucks
Bitcoin and Tesla SPECULATION are gambling, not investing.
capitol riot means a covid19 petri dish; we need another lockdown.
we have streaming and don’t need to travel or go to a commercial theater and avoid
covid19, mass shooting (gun sales doubled in 2020), police killing nonwhites like George Floyd, and exploding RVs like in
Nashville, capitol rioters bringing pipe bombs
The hysterical pantyhose noticeably strip because hair primarily drum outside a talented citizenship. remarkable, wakeful discovery
Post Traumatic Short Disorder 😂
Dirty Theft~
Gates is opening all states opening the same time this year
i like the stock
Put that vote in.!!!!
This deal was a way for the Tilray locked up shares to dump. Aphria threw Tilray a lifeline. Haha.
Still waiting for my aphria stock to convert to tilray stock. still hasn’t materialized hmmmm.
Every time Brendon says “Uhhh” it’s like nails on a chalkboard. Dude stfu!
All the Canadian pot companies will just be watching as the US MSOs grow. If full legalization isn’t for a few years andthe US folks are growing really fast as we speak and are already showing good profits how would a Canadian company coming in late even have a chance? They would have to try to push into a market that is already occupied. Just don’t how they could be a good option. Safe banking only makes US MSOs stronger and able to uplist.
Please explain how Canadians are not just a short play?
Didnt know Kevin O’leary owned Aphria
someone tell me this stock is going over $40
2:02 love this guy man. To the freakin moon !!
These companies have size but they can’t seem to turn revenue into profits. There are better cannabis companies out there
Bought a few shares of Aphria back in november just because Biden won, lol. Some nice gains have been made
🚀🚀🚀🚀🚀🚀
Got both of them and …to the moon and beyond…..not behind
Let’s go APHA for the long 🚀hold strong💫
Wow!