Brian Madden Tilray Inc. TLRY-Q DON'T BUY Oct 25, 2023

Death spiral. The hype was crazy. None of these companies is going to make any money. Sell it, take the loss, move on. No chance for a rebound. 

Too speculative and it's losing money.

Remember, it's a small cap so can be volatile. In the past two months, it's failing to break out. He's cool towards it.

Are diversifying away from cannabis into alcohol which diversifies their revenues. They bought Hexo. Interesting company. Also, they hold a lot of cash which will allow them buying more companies. 

Bottoming process a good place to buy for investors. Would wait a bit before investing. Not much momentum in company. 

So much wealth got destroyed in the cannabis sector, but Tilray will be one of the survivors. He can't offer a solid opinion about TLRY, because he needs to learn more about it, but he's starting to study the cannabis sector. Something will happen in the U.S. that will make banking for these companies allowable--and this will be a major move.

Avoid the sector. High risk, speculative. Doesn't see catalysts to drive the sector higher, especially if Republicans succeed in the US election.

Florida's upcoming vote to legalize cannabis could impact the industry. So, he will go back to this name after a long call and listen to their conference call.

A lot of $$ was made, but now investors have come to realize marijuana is just a commodity. The company bears all the costs, but it has the federal/provincial government as a partner that shares equally in all the upside, but none of the down. Even advertising is restricted.

For a consumer stock, he holds Unilever.