TLRY - 2 Bullish Signs and 1 Risk for Tilray Brands Stock
2024-01-25 07:50:00 ET
As one of the biggest cannabis companies on the planet and one of North America's biggest craft beer and alcohol companies, it's easy to assume that the world is Tilray Brands ' (NASDAQ: TLRY) oyster. But, in practice it's a business with finite resources and a mix of headwinds and tailwinds, just like most others.
Nonetheless, at the moment the balance of risk and reward appears to be tilting in Tilray's favor. So if you're considering an investment, here are two bullish signs to pay attention to, and one risk that could grow larger over time.
Perhaps the largest bullish sign for Tilray is that its ambitious foray into the alcohol market in the U.S. appears to be gaining traction quite quickly. In its fiscal Q2, ended Nov. 30, it reported $47 million in booze sales, up 117% from a year before. To accomplish that feat, it expanded the distribution of the beers made by its subsidiaries, Mountauk Brewing and SweetWater Brewing, to reach more locations in the U.S. as well as in several Caribbean markets.
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2 Bullish Signs and 1 Risk for Tilray Brands Stock