Tilray Brands Stock: Bear vs. Bull

Few cannabis companies are as internationally relevant as Tilray Brands (NASDAQ: TLRY). Based in Ontario, Canada, the business was once hailed as the largest marijuana operator in the world by revenue. But now, with its sales tumbling and cannabis markets showing signs of saturation, the stock in late December set a new all-time low, and its future is in question.Will Tilray's business take off, driving its stock's rally, or is it doomed to keep declining? Let's weigh the arguments in favor of each of those outcomes.The bull thesis for Tilray has two pillars: diversification and scale. While the company was originally just a marijuana business, its operations have become significantly more diversified following a few strategic acquisitions and its merger with Aphria in 2021. Now the business includes the cultivation and distribution of medical cannabis products, the production and sale of alcoholic beverages, and wellness products based on cannabis. That diversification is a big reason its trailing 12-month revenue grew by 55% over the last three years, and it's also why a pullback in the cannabis market might not hurt Tilray as much as it would hurt its competitors.Continue reading
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