Tilray Inc (NASDAQ: TLRY) chief executive Irwin Simon expects the recreational use of cannabis to be legalised on a federal level under Donald Trump as the President of the United States. In other words, he expects legalisation to occur over the next four years.
It's not a secret: The cannabis industry has been a major disappointment since Canada legalized recreational use in 2018. Some companies in the industry diversified away from their cannabis operations as a result.
In the latest trading session, Tilray Brands, Inc. (TLRY) closed at $1.16, marking no change from the previous day.
Tilray CEO Irwin Simon discusses the impact of President-elect Donald Trump's tariffs proposal on the business on 'The Claman Countdown.'
Tilray Brands stock price has been in a strong downward trend this year and is now sitting near its all-time low as concerns about the cannabis industry remains. It has imploded by over 48% this year, bringing its valuation to about $1 billion.
TLRY's innovation efforts are quite on track, with the launch of Herb & Bloom, which is a line of cocktail-inspired ready-to-drink, alcohol-free effervescent beverages.
In the most recent trading session, Tilray Brands, Inc. (TLRY) closed at $1.26, indicating a -1.56% shift from the previous trading day.
Tilray Brands, Inc. (TLRY) closed at $1.28 in the latest trading session, marking a -1.54% move from the prior day.
One of the starkest examples of the marijuana industry's struggles is the trajectory of one of its flagship stocks, Tilray (TLRY -2.98%).
Marijuana legalization doesn't appear to be on the horizon anytime soon. And as a result of the lack of excitement in the industry, many cannabis stocks are struggling, badly.
In the closing of the recent trading day, Tilray Brands, Inc. (TLRY) stood at $1.37, denoting a +0.74% change from the preceding trading day.
Tilray Brands (TLRY -4.22%) shares still aren't delivering on what investors may have hoped for, falling by 25% during the past 12 months. But, with a few catalysts in play, and with more operational improvements, anything is possible, and hope springs eternal.