Tilray(TLRY) has seen a 76% loss in the past month with hopes to bounce back
Tilray stock began trading in 2018 and hit a whopping $300 price point before nuking it shortly after. Since then, it has seen a consistent decline due to losing money as the company has tried expanding globally. Tilray, along with other marijuana stocks, have seen little profitability and burn cash to stay alive. So why still invest? Well let’s look at the future of marijuana stocks and how the market could shift ahead.
To no one’s surprise, the marijuana industry is driven by politics. Without legal medical marijuana, we would not have any public cannabis companies. Nearly all of the 2020 Democratic candidates have shown support to legal marijuana, unlike former Vice President Joe Biden, who wants to decriminalize it.
It will take more than a president who supports marijuana to see any real progress towards federal legalization. Any hope at all should impact Tilray and all cannabis stocks in a positive manner. Holding these cannabis stocks, for now, will be the best move if you are stuck in the recent losses as the marijuana industry is new and could make history in upcoming years
March 15, 2020