TLRY - Could This Low-Performing Stock Make You a Millionaire?
2024-01-24 06:58:00 ET
Tilray Brands (NASDAQ: TLRY) was a high-flying stock late in the last decade. As investors awaited the legalization of cannabis in Canada and a few U.S. states, investors piled into the stock, taking it to an all-time high of $300 per share in 2018.
However, the sector suffered as the market became oversupplied, and a resurgence in interest during the pandemic was followed by another reversal after the stock reached its 2021 high of $67 per share. Today, Tilray sells at more than a 99% discount from its record-high price, around $2 per share.
Nonetheless, the marijuana stock has reinvented itself, diversifying into noncannabis products. It now owns more than 20 different brands. The question for investors is whether its low price and a potential comeback could make them millionaires.
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Could This Low-Performing Stock Make You a Millionaire?