TLRY - Is Tilray Brands Stock a Buy in the New Bull Market?
2024-02-17 11:01:00 ET
If you've sought exposure to the cannabis industry recently, you've doubtlessly had to consider whether an investment in Tilray Brands (NASDAQ: TLRY) could be an appropriate choice. And with a new bull market carrying shares of many businesses aloft, now might seem like an especially appealing time to start a position.
On the other hand, people who have held this stock over the last five years are down by 83%, and the popular sentiment surrounding cannabis stocks remains somewhere between lukewarm and bad. So what's the right move?
The context of a bull market , i.e., rising stock prices, means a couple of things for Tilray. First, in a widespread environment of positive sentiment, its accomplishments are more likely to result in upward movements in the stock, with its pitfalls detracting less than they might otherwise. Second, if there are any major catalysts, like marijuana legalization in the U.S. or the European Union, the boost it gets might be much larger than if the same events occurred in a bear market full of pessimism.
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Is Tilray Brands Stock a Buy in the New Bull Market?