CGC - Better Growth Stock: Canopy Growth vs. Tilray Brands
2023-12-20 07:15:00 ET
The cannabis industry is full of risk but also full of opportunities. Globally, the pot market is expanding at an impressive compound annual growth rate of 34%, according to Fortune Business Insights. Analysts project that by the end of the decade, the cannabis market could be worth more than $444 billion (compared with $57 billion in 2023).
With such promising growth prospects, it's easy to get caught up in the excitement surrounding those opportunities. Two of the top cannabis stocks on the Nasdaq today are Canopy Growth (NASDAQ: CGC) and Tilray Brands (NASDAQ: TLRY) . Here's a look at which one of these marijuana investments could make for the better growth stock.
Canopy Growth's focus over the years has been the U.S. pot market. And even though it isn't able to enter the market today, it has been taking steps to ready itself should legalization in the U.S. take place. Canopy Growth has been scaling back on its Canadian operations to reduce its expenses and footprint. It's getting smaller in preparation for when it becomes much bigger. At the same time, it has been working on trying to find a way to house its U.S. interests in a special purpose vehicle , Canopy USA.
For further details see:
Better Growth Stock: Canopy Growth vs. Tilray Brands