Can marijuana stocks fly high again? It’s been a rough year for the cannabis industry as doubts over legalization has caused investors to rethink... Tilray (TLRY) 3rd Quarter Earnings: What to Expect

Can marijuana stocks fly high again? It’s been a rough year for the cannabis industry as doubts over legalization has caused investors to rethink interest in the sector. And Tilray (TLRY), which had a stock price of $140 a year ago this month, has been one of the toughest stocks hit.

Today Tilray is trading at around $22 per share. The company is set to report third quarter fiscal 2019 earnings results after the closing bell Tuesday. Cannabis stocks have fallen this year as investors question the long-term viability of the market, which has had strong opponents over the past couple of years. While some estimates still suggest the industry can grow between $50 billion and $75 billion in annual revenue in the next ten years, it’s not clear which cannabis company will dominate that market.

Tilray, however, is thinking more broadly than the U.S. and has begun to acquire assets in a number of segments of the worldwide cannabis market. Its deal for Manitoba Harvest, the world’s largest hemp food company, is one example. Tilray management is also focused on high-margin medical marijuana patients. How much of this diversification gives it the competitive advantage that is needed to make it investment-worthy? That question may be answered Tuesday. [Read more at Nasdaq]

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