Zacks.com users have recently been watching Tilray Brands, Inc. (TLRY) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Since 2021, shares of Tilray Brands (NASDAQ: TLRY) and Canopy Growth (NASDAQ: CGC) are down 70% and 92%, respectively. One thing that can and often does get investors bullish about pot stocks is when there's the hope that legalization in the U.S. might be on the horizon. A classic example of that is what happened when Joe Biden was elected president in 2020 and there was optimism in the industry that with a Democrat in power, it might lead to some progress on marijuana reform.
At the moment, Tilray Brands (NASDAQ: TLRY) isn't a stock that's an obvious buy, as the cannabis industry is getting punished by the bear market and price compression with no relief in sight. The stock is far too risky for most investors to buy today due to the range of headwinds it faces. As a company that aspires to be the largest marijuana business in the world, Tilray's cultivation, manufacturing, distribution, and retail operations are scattered around the globe, with the largest concentration of its resources located in North America and the European Union.