What is Tilray's Future?
Tilray, a pharmaceutical company that produces cannabis and cannabis products, was the first cannabis producer to list publicly on a United States stock exchange and did so at a price of 17 dollars per share. Since that listing, expectations catapulted the stock to nearly $200 per share. Since this stratospheric run up, the stock has fallen all the way back to the $20's per share, yet the stock price drop should not cloud the potentially very bright future of Tilray. Tilray has laid a solid foundation of research and scientific discovery and continues to build upon that foundation to potentially occupy a large share of their prospective market.
One very important aspect of Tilray’s foundation is that they distribute their products to 12 countries in 4 continents, giving itself a strong international presence. With that being said, international cannabis sales are a huge part of the company’s revenue stream, occupying almost 10% of total revenue.
The cannabis producer also recently acquired Manitoba Harvest, one of the biggest hemp companies in the world. This acquisition has allowed Tilray to establish a foothold in North America by distributing hemp and cannabinoid infused food products throughout the region.
Tilray has also made extremely intelligent moves in partnering with big name companies such as Novartis and Anheuser-Busch to create cannabis related health products to distribute to the public. The backing of a big name such as Novartis will provide credibility to Tilray and draw in more support from physicians, pharmacists and doctors, due to the fact that they see the company is partnered with a name they trust. The partnership with Anheuser-Busch is hoped to result in a nonalcoholic cannabis infused drink, that may perform very well due to shifting consumer preferences towards a healthier lifestyle.
Tilray has difficult, yet highly attainable goals under CEO Brendan Kennedy, as they believe that they will be one of the few, but largest names in the cannabis industry in the near future and control an impressive amount of the market.
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Written by Matthew Durborow, Edited by Ramsay Bader & Alexander Fleiss