Tilray will struggle to be long term winner
Tilray Inc(TLRY) currently trades at $7.52 and has fallen by 28% in the past 24 hours. Most pot stocks in Canada are trading close to 52-week lows because of several issues. They have been affected by lower-than-expected demand, mounting losses, regulatory issues, health worries about vaping, the slow rollout of retail stores in major Canadian provinces, cannibalization from the illegal market, high inventory levels, and more.
Based on this information, investorsQ rates this stock a 3 out of 10. We give it this rating because his stock has moved 90% lower over the past year. Tilray went public at $17 per share in July 2018 and touched a record high of $300 in intra-day trading a couple of months later. The stock was trading at a record low of $3.40 March 25, 2020, which means it has lost a staggering 98% in market value in approximately 18 months. The high forecast for Tilray Inc is $28 and the low is $2. Notably, the company’s market cap is $826.35 million with a 52 week high of $66.40 and a 52 week low of $2.43.