 Tilray is one of the largest cannabis companies in the world. They’re based in canada, but have a presence on the US stock market. They do not yet have a presence in the US cannabis retail market though. They’ve been holding off waiting for the right time.
Tilray’s CEO, Irwin D. Simon, spoke with CNBC on 4-20 in an interview about the cannabis industry future. He spoke about his belief that the U.S. will definitely legalize federally at some point, he says their company is poised and ready to jump in once that happens. He said they will then be looking to buy or merge with another company in order to gain immediate access to the American market. Simon also spoke about his predictions for the European market, where there is only limited medical marijuana allowed for the most part. Tilray has representation in 20 of those European countries which allow for medical marijuana. Simon said that he believes recreational marijuana will be legal throughout Europe within one year. Starting the recreational legalization movement for Europe is Switzerland, who has just stepped to the front of the game. They are beginning federal recreational cannabis trials right now. Switzerland is allowing adult recreational users to purchase high THC cannabis at pharmacies. It is very likely that Germany will adopt a plan that is similar to the Swiss, and potentially more countries will follow. So perhaps Tilray’s CEO is right that Europe will be fully legal for recreational cannabis in a year, but that time line may also be a bit too positive, as goverment changes usually take a bit more time. Comments are closed.
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