Near Its 52-Week Low, Tilray Still Isn’t a Buy

Few cannabis stocks have fallen as hard as Tilray (NASDAQ: TLRY) over the past year, and that's saying something considering the sector has been beaten to a pulp recently. Tilray first rose to stardom after going public in July 2018, jumping from its modest $17 price per share at IPO to as much as $300 just a few months later.

It has been a straight descent into the abyss since then, though, with the company currently just a couple of bucks or so from its 52-week low. It may be tempting to see this prolonged slump as an opportunity, but it seems to me more likely that Tilray's troubles are indicative of much deeper problems, the kind that should have investors looking elsewhere.

First and foremost, it is important to consider the future of the cannabis industry. Sure, it is one of the most promising industries you will find anywhere, as marijuana sales are expected to increase exponentially in the coming years.

Source Fool.com