Is Tilray Stock a Buy?
For the past three years, shares of Canadian pot grower Tilray (NASDAQ: TLRY) have fluctuated wildly. The stock reached as high as $300 in October 2018 after its initial public offering in July of that year at a mere $17 per share. After excessive speculation and euphoria, however, the stock price subsequently collapsed by nearly 95%.
It may be a surprise to many investors that Tilray is about to become the biggest marijuana company in the world by revenue as part of a merger with Aphria (NASDAQ: APHA), a leading marijuana grower based in Canada. Under the agreement, Aphria shareholders will control 62% of the combined company, with Tilray shareholders owning the remaining 38%. Aphria will also cease using its trade name for its cannabis and do business under the Tilray name.
Can this megamerger be the catalyst Tilray needs for its share price to return to higher levels? Let's find out.
Source Fool.com
