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After-Hours Stock Movers: Cannabis Stocks Higher; Honest Company, MEI Pharma Lower

Stock Markets Mar 24, 2022 05:27PM ET
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© Reuters. After-Hours Stock Movers 03/24: (TLRY) (SNDL) (CRON) Higher; (MEIP) (HNST) (SMRT) Lower

After-Hours Stock Movers for March 24th:

MEI Pharma (NASDAQ:MEIP) 46% LOWER; FDA informed the companies of its position that a randomized trial is now needed to adequately assess drug efficacy and safety of PI3K inhibitor drug candidates

The Honest Company Inc (NASDAQ:HNST) 20% LOWER; reported Q4 EPS of ($0.10), $0.04 worse than the analyst estimate of ($0.06). Revenue for the quarter came in at $80.4 million versus the consensus estimate of $84.59 million. Full Year 2022 revenue is expected to be approximately flat compared to 2021.

SmartRent Inc (NYSE:SMRT) 17.3% LOWER; reported Q4 EPS of ($0.13), $0.04 worse than the analyst estimate of ($0.09). Revenue for the quarter came in at $34.7 million versus the consensus estimate of $31.4 million. SmartRent sees FY2022 revenue of $220-250 million, versus the consensus of $301 million.

Cyren (NASDAQ:CYRN) 16% LOWER; reported Q4 EPS of ($1.19), versus ($1.37) reported last year. Revenue for the quarter came in at $7.4 million versus the consensus estimate of $7.77 million.

Tilray Brands, Inc. (NASDAQ:TLRY) 11% HIGHER; adds to intra-day gains of 21.9% as the House will vote to legalize cannabis on Monday.

Purple Innovation, Inc. (NASDAQ:PRPL) 8% LOWER; intends to sell $65 million of Class A common stock in an underwritten public offering.

Sundial Growers (NASDAQ:SNDL) 7.3% HIGHER; adds to intra-day gains of 23% as the House will vote to legalize cannabis on Monday.

Canopy Growth Corporation (NASDAQ:CGC) 6.8% HIGHER; adds to intra-day gains of 11.4% as the House will vote to legalize cannabis on Monday.

Cronos Group (NASDAQ:CRON) 6.5% HIGHER; adds to intra-day gains of 8.7% as the House will vote to legalize cannabis on Monday.

Albertsons Companies (NYSE:ACI) 6.2% LOWER; unclear reason for the downside.

Gates Industrial (NYSE:GTES) 5.5% LOWER; announced today that certain selling stockholders affiliated with Blackstone (NYSE:BX) Inc. have commenced a secondary offering of 5,000,000 of Gates' ordinary shares.

By Lon Juricic

After-Hours Stock Movers: Cannabis Stocks Higher; Honest Company, MEI Pharma Lower
 

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Comments (2)
Pete Dee
Pete Dee Mar 24, 2022 8:15PM ET
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Let Me A Herculean Squeeze. AndKillAllVultures!
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HD HD Mar 24, 2022 6:27PM ET
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give my people legal cannabis!
 
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