Tilray Rally Fades as Doubts About Pot Stocks Prevail

Yahoo Finance · Stefanie Marotta · last updated January 15, 2022 – 7:42 AM

Tilray is down around 90% from a peak in February 2021, reached on speculation that U.S. lawmakers would overhaul the nation’s marijuana laws. Story continuesTilray Chief Executive Officer Irwin Simon said on a conference call with analysts Monday that he doesn’t see U.S. federal legalization for at least the next two years. Tilray struck a deal in December to buy Breckenridge Distillery, a Colorado-based producer of spirits. Canopy, meanwhile, has a deal to buy New York-based marijuana company Acreage Holdings Inc., pending U.S. federal legalization. Most Read from Bloomberg Businessweek©2022 Bloomberg L.P.

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