It was almost four years ago that Tilray Brands (TLRY -1.91%) announced that it would be merging with low-cost cannabis producer Aphria to create a larger, more dynamic, and global marijuana company. At the time, it was an exciting prospect for investors, creating what might end up becoming the best cannabis stock to own.
But since that announcement back in December 2020, the stock has declined by more than 85%. There was a lot of hype around the news, and the stock skyrocketed shortly afterwards, but the enthusiasm would fade — significantly.
Over the next five years, I expect Tilray to continue to evolve its business — but this time, away from cannabis. It might still be a small part of its business, but I predict that Tilray won’t be known as a marijuana company for much longer.
H/T: www.fool.com
