TLRY - Tilray Brands Shareholders Are (Still) Waiting for This 1 Huge Catalyst. Will It Arrive in 2024?
2024-02-02 07:00:00 ET
Tilray Brands (NASDAQ: TLRY) is undergoing a metamorphosis. Whereas historically its business model was to grow, sell, and distribute marijuana in Canada, today the company's ambitions are larger, as are its capabilities.
Still, investors in the cannabis conglomerate have had high hopes for a transformational catalyst to send their shares soaring for quite some time now, and it's becoming increasingly clear that management didn't think it would take so long to arrive. But there's reason to believe that a breakthrough is quickly approaching, and the implications for the near term are significant.
It's a surprise to nobody that cannabis legalization for recreational adult use is a major catalyst for cannabis companies like Tilray. Without it, competitors can only target the much less desirable and smaller medicinal use and natural wellness products markets. But the huge catalyst that Tilray investors are waiting on isn't legalization in the U.S., as positive as that would ultimately be. They're waiting on the European Union to create the regulatory framework for the legal cannabis industry, and for it to follow through with legalization.
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Tilray Brands Shareholders Are (Still) Waiting for This 1 Huge Catalyst. Will It Arrive in 2024?