After the Merger With Aphria, Tilray Remains a Smart Buy

The mega-merger deal between Canadian cannabis companies Aphria and Tilray (NASDAQ: TLRY) was the highlight of the marijuana industry this year. The deal closed on May 3 and the "new" Tilray was formed, and in the process, became the world's largest cannabis company by revenue.

The legacy Aphria has always been a strong contender in the cannabis space because of its smart growth strategies. Legacy Tilray, on the other hand, was a rather small company, which had a market cap of $1.1 billion before the merger was announced, but now holds a market cap of $7.7 billion.

This brought the newly combined company closer to the two leaders in the cannabis space: U.S. cannabis company Curaleaf Holdings, with a market cap of $9.5 billion, and Ontario, Canada-based Canopy Growth, with a market cap of $9.0 billion.

Source Fool.com