TLRY - Is Tilray a Buy?
Tilray (NASDAQ: TLRY) is about to become the biggest cannabis company in the world in terms of revenue, thanks to a merger with Canadian pot producer Aphria (NASDAQ: APHA) . However, its stock performance has been rather lackluster lately, with a 73% decline from February highs. This has left investors wondering if there's hope for a turnaround.
The problem with Tilray's stock was overvaluation. Less than two months ago, it was trading for nearly 40 times revenue. That wasn't an issue, as long as the company had the growth to show for it. However, after disappointing guidance by its soon-to-be subsidiary, Aphria, the stock price collapsed. Is the stock a safe bet for the long term?
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Is Tilray a Buy?