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Cannabis Watch: Cannabis stocks climb after Tilray’s earnings, as New Jersey moves closer to legal weed

Cannabis stocks were mostly higher Tuesday, as investors digested Tilray Inc.’s earnings and the latest moves by New Jersey and Pennsylvania to pave the way toward legalization.

Tilray TLRY, -2.78% said late Monday quarterly sales grew to $15.5 million, up from $5.1 million in the year-ago period, topping the $14.1 million FactSet consensus. Tilray said the average net selling price per gram of pot increased to $7.52 from $7.13 in the year-ago quarter.

But its losses widened to $31 million, or 33 cents a share, from $2.9 million, or 4 cents a share, in the year-earlier period. That was wider than the 14 cents FactSet consensus.

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