Can Tilray Stock Hit $3 in 2024?
Cannabis stocks continue to disappoint. Tilray (NASDAQ: TLRY), one of the leaders in the Canadian market, is no exception. The stock is down by 17% year to date -- the shares are trading for just $1.92 as of this writing. Tilray might almost look attractive at that price if the pot grower can bounce back. Ending the year with a share price of $3, representing a nearly 60% increase from its current levels, would be a good start.
Can Tilray pull that off by year end? Let's find out.
Reporting solid and improved financial results is an excellent way to regain investor trust, especially when subpar quarterly updates have been key in sinking the company's shares. That describes Tilray's situation well, although it isn't all the company's fault. Tilray is the No. 1 cannabis company in Canada in terms of market share, but the market north of the border has been challenging.
Source Fool.com
