Tilray is pursuing an ambitious revenue target of $4 billion by 2024, banking on its substantial market share in European medicinal cannabis and projected U.S. sales of $1.5 billion following federal legalization. Despite a reported revenue increase of 23% to $152 million, Tilray's stock has fallen over 72% in the past year, currently hovering around $5. The company has recently restructured by moving its headquarters to New York City and forming a strategic partnership with Hexo Corp, which includes absorbing $193 million of Hexo's debt, all while navigating ongoing challenges until U.S. cannabis legalization occurs.
“Tilray · has revenue target · $4 billion · by 2024”
“Tilray · reported revenue increase · 23% · to $152 million”
“Tilray · has leading market share · medicinal cannabis in Europe”
“Tilray · has predicted sales · $1.5 billion · after federal-level legalization”
“TLRY stock · started the year with a price of · around $7.60”
“TLRY stock · declined to a low of · $4.80”
“TLRY stock · is currently trading near the bottom at · $5”
“TLRY stock · is trading nowhere near · its long-term highs”
“Tilray · cannot own · a cannabis license”
“TLRY stock · tends to perform well during news announcements of · Federal legalization”
“Tilray’s stock · has been absolutely crushed in · recent months”
“Tilray · could be a direct beneficiary of · US Federal legalization”