Tilray Brands Has Diversified Its Business Through Alcohol, but Is the Stock a Better Buy Than It Was 5 Years Ago?

During the past five years, investing in cannabis stocks has led to dreadful returns for investors. One of the top cannabis stocks in the industry is Tilray Brands (NASDAQ: TLRY), and during that stretch, its valuation has crumbled, falling by a staggering 94%.The Canada-based company has been eager to enter the U.S. marijuana market. But without national legalization, there hasn't been a path forward. Instead, the company has been looking at other ways to diversify, such as acquiring a number of alcohol brands. By doing so, it has been able to expand its presence in the U.S. and increase sales. And in the future, should marijuana legalization take place, it can be in a good position to leverage its existing operations to take advantage of those opportunities.But while expanding into alcohol has undoubtedly made Tilray a more diverse business, the big question is whether it's in a better position today. Is the stock more attractive than it was five years ago, and can it make for a good contrarian investment right now?Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool