Is Tilray (NASDAQ:TLRY) Ready To Move Up In July?
5:51 pm Friday, July 16th, 2021
Many cannabis stocks might be going through tough times at this point in time but despite all that there are some companies that might be worth tracking and one such company is the Canadian cannabis firm Tilray (NASDAQ:TLRY).
The stock had been a part of the meme stock mania earlier on this year but like most of the other meme stocks, the Tilray stock corrected as well. However, unlike many of the other meme stocks, Tilray has many fundamental metrics that could be of interest to investors and hence, the company deserves a closer look. One of the most important things to remember regarding Tilray is that after its merger with Aphria earlier on this year, the company is now the biggest cannabis company in the world by revenues.
The sheer size of the company is going to help the company when it comes to economies of scale. In addition to that, experts believe that it will also allow Tilray to cut costs considerably in the long run. At this point, Canada is the best market for most cannabis companies, however, it should be noted that other markets are opening up and eventually many experts believe that the cannabis market is going to be a global one.
On that front, Tilray is in a strong position, since it does not only have a strong presence in Canada but also an international presence as well. Lastly, the company is also looking at mergers and acquisitions options in order to make headway into the United States market, which remains the most lucrative market in the world for most companies.
