Tilray, Aurora, Canopy Growth: Despite Schedule III reclassification boost, stocks down 67%, 46%, 48% from 52‑week highs — structural weaknesses exposed

Although shares popped briefly on the Schedule III reclassification news, Tilray (Q3 revenue $188M), Aurora and Canopy Growth have yet to achieve profitability. Structural weaknesses are increasingly evident: California sales down 11%, ongoing price compression and chronic losses.

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