, Columnist
The Cannabis Market Is Looking Up, Even If Cannabis Stocks Aren’t
The outlook for the industry is upbeat, but it’s hard to tell which companies will prosper.
Still a promising industry.
Photographer: PATRICIA DE MELO MOREIRA/AFPThis article is for subscribers only.
Almost exactly a year ago, a small Canadian cannabis company was generating a lot of buzz (sorry, couldn’t resist the pun). Despite trifling quarterly revenue of $9.7 million, Tilray Inc.’s market capitalization got so high (sorry again, I’ll stop) that it briefly eclipsed that of major companies people have actually heard of, such as American Airlines Group Inc.
The boom quickly faded — not surprising, given how senseless it looked even in the moment — and Tilray’s stock has continued to decline. And the cannabis sector has also stumbled recently.