Why Tilray Stock Plummeted by 42% in 2024

Any investor hoping to reap the rewards by holding marijuana companies must be a shiny-eyed optimist at this point. Weed companies are among the worst performers on the stock exchange since they are constantly barraged by headwinds in North America. At the very least, they have to contend with heavy competition, punitive levels of taxation, and (in the case of the U.S.) patchy, inconsistent legalization.One of the larger players on the pot market is Tilray Brands (NASDAQ: TLRY), and its difficult 2024 mirrored the woes of the cannabis sector in general. Let's do a flyby.Tilray's major story during the year was its concentrated attempts to diversify away from marijuana, which is hardly a ringing endorsement of its efforts with the core products. The company spent much of 2024 either adding to or consolidating its beverage holdings, now a sprawling collection that has given it one of the top craft beer portfolios in the U.S. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool