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40 sats \ 1 reply \ @Coinsreporter OP 4 May \ parent \ on: Why One-Time Cannabis Darling Tilray Is Now High On Beer Stacker_Stocks
Yea, you're right. I also think the market expected US could legalise Cannabis but it wasn't and it's one big reason for the downfall..
Obviously that would have been a huge outcome for Tilray as they had first mover advantage but there would have been a ton of competition for a US market and you could presume 10x the revenue they were generating in Canada, which means they would probably still be 10x overvalued even if they got the US market.
Classic case of bubble dynamics. Every one gets hyped about something new and piles in. Same happened with biotech in the mid 2010s.
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