CGC - Better Cannabis Stock: Canopy Growth vs. Tilray Brands
2024-01-21 13:21:00 ET
Cannabis stocks like Canopy Growth (NASDAQ: CGC) and Tilray Brands (NASDAQ: TLRY) are obvious places for investors to look for growth. Thanks to their place in a rapidly growing and multinational industry, both companies have an impressive slate of opportunities to pursue.
At least in theory. As it turns out, one of these players is much more likely to delight investors with strong returns than the other.
Canopy's near future looks a lot like its past. Over the last few years, the company has been embroiled in an all-too-common quagmire of the marijuana industry. During the boom of the Canadian cannabis market after the country legalized recreational marijuana in late 2018, it built out a smorgasbord of product lines and brands while capturing as much market share as possible via cultivation facilities and retail outlets. Then, there were so many competitors doing the same activities that the market became flooded with inexpensive cannabis. That drove prices down and worsened Canopy's unprofitability, and it entered into a multiyear rightsizing process that's still ongoing.
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Better Cannabis Stock: Canopy Growth vs. Tilray Brands