The marijuana stock market might be going through a bit of churn at this point in time, but the long term progress is huge. Canada legalized marijuana less than a year ago, while the US stock exchange started listing pure-play cannabis stocks a short time ago. So, there is a lot of untapped resources that are still to be unleashed and the eventual valuation of the industry could be a lot more than what is it now. On that note, it is interesting to figure out the long term prospects of Tilray Inc (NASDAQ:TLRY), one of the more important players in the cannabis stock market.
What About This Marijuana Stock
Tilray is a path-breaking marijuana stock in the industry, having been listed on a US stock exchange. In addition to that, this pot stock company started a cannabis export operations to a range of countries around the world. In the meantime, it has also managed to acquire marijuana cultivation licenses in both Portugal and Canada. On top of that, the company has also spent heavily on research that seeks to ascertain the effect of medical marijuana on a range of conditions. It has branched out into treatment centers as well and now has a presence in as many as 12 states.
Over the years, Tilray has demonstrated that medical marijuana remains the core of its business and the possibility of creating useful treatments is what fuels the company’s research.
Is This Marijuana Stock Here To Say
Tilray has also made a strategic partnership with Anheuser-Busch InBev to create CBD and THC infused beverages. On the other hand, it is also in collaboration with Authentic Brands Group to create marijuana-infused edibles. Overall, it is quite clear that Tilray has made a range of moves that could position itself as a leader in the industry in the long term. However, it is too early to say whether all of it will come to fruition and hence, experts believe that it is perhaps a bit too early to know if it’s a marijuana stock to buy.