Is This News a Game Changer for Tilray?
The world outside North America might just be warming up to marijuana legalization, if recent developments in Europe are any indication. This past April, German legislators passed the Cannabis Act -- a set of measures both legalizing (to a limited extent) the recreational cannabis market, and expanding the market for medical pot.
Happily for Tilray Brands (NASDAQ: TLRY), the Canadian weed company was already a force on the (admittedly limited) German market. That served the company well when, in mid-July, the country's government awarded a new cultivation and distribution license. This greatly expands its ability to grow and sell medical pot in the rapidly "greening" nation. Let's figure out if this can turn Tilray's fortunes around.
Unhappily for Tilray Brands, despite the fact that its native Canada fully legalized marijuana years ago, the domestic pot business presents a mountain of challenges. Among other problems, retail licensing is a mess, while illegal product is competitive enough to dent the performance of licensed operators.
Source Fool.com
