Tilray Brands Inc. (NASDAQ: TLRY), once a leading light in the legal cannabis industry with shares trading as high as nearly $150, has seen its stock price almost entirely collapse in recent years. A multitude of factors may be to blame—the lack of federal legalization of recreational cannabis, regulatory inconsistencies, problems matching supply and demand, and more have all devastated the industry.
Nonetheless, Tilray shares have behaved remarkably around the midpoint of 2025, rising by some 55% in a one-month span. Could it be that projected cash flow and profitability, the possibility of more favorable regulatory environments, and an expanded geographical and product focus could inspire a long-term turnaround for a company that is down more than 99% from its all-time share price high?
