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Tilray Stock: 3 Catalysts We're Waiting For

Cannabis investors are anxiously waiting for these developments to happen.

Tilray  (TLRY) -  is a cannabis market leader in Canada and Europe. However, shares of the company — along with other pot stocks — have been on a losing streak in recent years.

This downward trend is due both to fading hopes that the U.S. and other governments will legalize marijuana and to general weakness in the market.

However, recently, cannabis investors have had a glimmer of hope. Here are three catalysts that could send Tilray's stock skyrocketing.

Figure 1: Tilray Stock: 3 Catalysts We're Waiting For

Figure 1: Tilray Stock: 3 Catalysts We're Waiting For

(Read more from Wall Street Memes: 3 Reasons To Buy GameStop Stock)

1. U.S. Federal Legalization

At the beginning of April, the U.S. House of Representatives the Marijuana Opportunity Reinvestment and Expungement (MORE) Act, a bill that would decriminalize marijuana.

to CEO Simon Irwin, for TIlray, the importance of the SAFE Banking Act is clear: Tilray needs to make more money. Today, the vast majority of the company's float is owned by retail investors. With the help of investment from large institutions, Tilray will be able to more easily generate cash for its acquisition strategies and pay its debts.

to German Chancellor Olaf Scholz, the consequences of legalization will be evaluated after four years and he believes that legalization will ensure quality and prevent the proliferation of illegal substances among youth.

When legalization occurs in Germany, it will facilitate Tilray's strategic expansion further into Europe, increasing the capabilities of the company's brands and strongly accelerating its growth.

(Disclaimers: this is not investment advice. The author may be long one or more stocks mentioned in this report. Also, the article may contain affiliate links. These partnerships do not influence editorial content. Thanks for supporting Wall Street Memes)