The cannabis industry in Canada is in shambles. Pick a random pot stock and you're sure to find an investment that is down big over the past few years. Canopy Growth (NASDAQ: CGC) and Tilray Brands (NASDAQ: TLRY) are no exception -- they've fallen more than 50% in just the past 12 months. These businesses are struggling to grow and they are finding it difficult to reach breakeven. Their strategies, however, for fixing their problems vary. Which company is on the better path?

Canopy Growth is hunkering down in an effort to streamline its operations and conserve cash as best as it can. The company has been laying off staff this year and it has even sold off its facility in Smiths Falls, Ontario, which served as its headquarters. It has also divested its retail operations in Canada.

Canopy Growth now likes to mention that it's transitioning to an "asset-light model," which is a much nicer way of saying that it's looking to cut whatever it can to bring down expenses. But that's what it needs to do if it wants to execute on some aggressive long-term plans.

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Source Fool.com