<h2>关键要点</h2>
<ul>
<li>Tilray Brands 是大麻行业的领导者，在饮料市场上占有重要地位。</li>
<li>这可能使这家大麻种植商能够从不断增长的含大麻饮料市场中获利。</li>
<li>然而，仍需考虑重大风险。</li>
<li>我们更看好的 10 只股票 ›</li>
</ul>
<p>尽管大麻股票在过去五年表现不佳，但该行业仍然有一些希望。根据一些预测，市场将在未来几年继续扩张，特别是在北美。而且，增长的不仅仅是对干燥大麻花的需求。例如，含大麻饮料的市场今年可能价值约 74 亿美元，到 2034 年可能增长到 2426.8 亿美元，年复合增长率为 54.62%。</p>
<p><strong>Tilray Brands</strong>（纳斯达克：TLRY）在大麻市场上已经领先一段时间，并且仍然保持这一地位。这家大麻种植商是否是投资于这一扩展机会的最佳价值股票？</p>
<p><em><strong>人工智能会创造出世界上第一个万亿富翁吗？</strong> 我们的团队刚刚发布了一份关于一家鲜为人知的公司报告，该公司被称为 “不可或缺的垄断”，提供 Nvidia 和 Intel 都需要的关键技术。<strong>继续 »</strong></em></p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9lZGl0b3JpYWwvaW1hZ2VzLzg2Njc0Mi90aWxyYXktbG9nby5wbmcGdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9lZGl0b3JpYWwvaW1hZ2VzLzg2Njc0Mi90aWxyYXktbG9nby5wbmcGdz03MDA"/></p>
<p>图片来源：The Motley Fool。</p>
<h2>为什么 Tilray Brands 可能是一个不错的选择</h2>
<p>Tilray 在加拿大的市场份额领先，那里娱乐性大麻使用——包括含大麻饮料——是合法的。该公司大幅扩展了其业务，现在拥有一个大型饮料部门，通常占其季度收入的 20% 到 30%。这不仅仅是在加拿大。Tilray 通过收购在美国市场确立了自己作为领先的精酿啤酒商（具体来说是第四大）。</p>
<p>这意味着该公司拥有品牌网络和成熟的商业足迹，使其在满足日益增长的含大麻饮料需求方面处于强势地位。确实，存在一些潜在的障碍。最显著的是，大麻在美国联邦层面仍然是非法的。然而，如果在未来八年内这一情况发生变化，Tilray 可能会成为主要受益者。同时，该公司的股票交易价格刚刚低于 6 美元。而且该公司的前瞻市销率为 0.7（通常认为低于 2 是 “良好” 的），这表明其可能被严重低估。</p>
<h2>怀疑的理由</h2>
<p>Tilray 的股票看起来便宜是有原因的：该公司近年来的财务业绩糟糕。它的收入增长不稳定，净亏损持续。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vbWVkaWEueWNoYXJ0cy5jb20vY2hhcnRzLzg3ODlmZTkzMDdiNzhkY2EwOTQzZWFmZTY2ZWMwZjY5LnBuZwZ3PTcwMA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vbWVkaWEueWNoYXJ0cy5jb20vY2hhcnRzLzg3ODlmZTkzMDdiNzhkY2EwOTQzZWFmZTY2ZWMwZjY5LnBuZwZ3PTcwMA"/></p>
<p>TLRY 收入（季度）数据来自 YCharts</p>
<p>这并不全是 Tilray 的错。大麻市场面临监管挑战以及激烈竞争，导致供过于求的问题。即使这不是 Tilray 的错，事实是该公司的业绩令人缺乏信心。这个大麻种植商能否反弹？考虑一下大麻在美国联邦层面合法化的可能性。除了没有人能准确预测这一点外，甚至不明显这会解决 Tilray 的问题。毕竟，该公司在加拿大合法化的情况下表现也不佳。</p>
<p>确实，美国市场将提供比加拿大市场更大的机会。但现实是，合法化将开启新的增长途径，同时也带来新的问题。例如，Tilray Brands 在饮料类别中可能领先于同行。然而，如果大麻在联邦层面合法化，饮料巨头进入含大麻饮料市场并不困难。</p>
<p>与拥有丰富现金、知名品牌和在高度监管的消费品领域拥有深厚经验的公司竞争，Tilray 可能不会太顺利。该公司可能会通过与这样的饮料制造商合作而获得胜利。但这很难预测。</p>
<h2>Tilray 股票值得购买吗？</h2>
<p>Tilray 面临着一个具有挑战性、竞争激烈的市场，并受到重大监管审查。此外，该行业的前景仍然不确定。在过去一年中，美国在监管方面取得了一些进展——该国当局已正式将大麻列为第三类物质，这对该行业的公司来说是个好消息——但仍然存在许多风险。</p>
<p>最后，即使 Tilray 的最佳情况出现，大麻在美国联邦层面合法化，该公司仍可能无法扭转局面。简而言之，Tilray 目前并不是一个值得考虑的股票，无论是对于价值投资者还是其他人。最好寻找其他投资机会。</p>
<h2>你现在应该购买 Tilray Brands 的股票吗？</h2>
<p>在你购买 Tilray Brands 的股票之前，请考虑以下几点：</p>
<p>_Motley Fool Stock Advisor_分析团队刚刚确定了他们认为的 <strong>10 只最佳股票</strong> 供投资者现在购买……而 Tilray Brands 并不在其中。入选的 10 只股票在未来几年可能会产生巨大的回报。</p>
<p>考虑一下 <strong>Netflix</strong> 在 2004 年 12 月 17 日进入这个名单时……如果你在我们推荐时投资了 1000 美元，<strong>你将拥有 473,985 美元</strong>！* 或者 <strong>Nvidia</strong> 在 2005 年 4 月 15 日进入这个名单时……如果你在我们推荐时投资了 1000 美元，<strong>你将拥有 1,204,650 美元</strong>！*</p>
<p>现在，值得注意的是_Stock Advisor_的总平均回报率为 950%——相比之下，标准普尔 500 指数的回报率为 203%。<strong>不要错过最新的前 10 名单，使用_Stock Advisor_，加入由个人投资者为个人投资者建立的投资社区。</strong></p>
<p><strong>查看这 10 只股票 »</strong></p>
<p><em>*Stock Advisor 的回报截至 2026 年 5 月 6 日。</em></p>
<p><em>Prosper Junior Bakiny 在提到的任何股票中均没有持仓。The Motley Fool 推荐 Tilray Brands。The Motley Fool 有披露政策。</em></p>
<p>此处表达的观点和意见是作者的观点和意见，并不一定反映纳斯达克公司的观点。</p>

TLRY

VICE

纳斯达克食品饮料 ETF - First Trust

<p>Tilray Brands 是价值 74 亿美元的大麻饮料市场的重要参与者，在加拿大和美国拥有强大的市场存在。然而，该公司面临着挑战，包括收入增长不稳定和净亏损。尽管大麻市场预计将增长，但美国潜在的联邦合法化可能带来机遇和竞争加剧。分析师建议，Tilray 目前可能不是一个值得投资的选择，建议投资者考虑其他股票</p>

<h2>Key Points</h2>
<div class="lb-trans"><h2>关键要点</h2>
</div><ul>
<li>Tilray Brands, a leader in the cannabis industry, has a significant footprint in the beverage market.</li>
<li>That could allow the pot grower to cash in on the vast and growing market for cannabis-infused drinks.</li>
<li>However, there are significant risks to consider.</li>
<li>10 stocks we like better than Tilray Brands ›</li>
</ul>
<div class="lb-trans"><ul>
<li>Tilray Brands 是大麻行业的领导者，在饮料市场上占有重要地位。</li>
<li>这可能使这家大麻种植商能够从不断增长的含大麻饮料市场中获利。</li>
<li>然而，仍需考虑重大风险。</li>
<li>我们更看好的 10 只股票 ›</li>
</ul>
</div><p>Although cannabis stocks have not performed well over the past five years, there is still some hope left for the industry. According to some projections, the market will continue to expand in the coming years, especially in North America. And it isn't just the demand for dried cannabis flower that will grow. For instance, the market for cannabis-infused beverages might be worth about $7.4 billion this year and could grow to $242.68 billion by 2034, representing a compound annual growth rate of 54.62%.</p>
<div class="lb-trans"><p>尽管大麻股票在过去五年表现不佳，但该行业仍然有一些希望。根据一些预测，市场将在未来几年继续扩张，特别是在北美。而且，增长的不仅仅是对干燥大麻花的需求。例如，含大麻饮料的市场今年可能价值约 74 亿美元，到 2034 年可能增长到 2426.8 亿美元，年复合增长率为 54.62%。</p>
</div><p><strong>Tilray Brands</strong>(NASDAQ: TLRY) has been a leader in the cannabis market for a while, and it remains so. Is this pot grower the best value stock to buy to capitalize on this expanding opportunity?</p>
<div class="lb-trans"><p><strong>Tilray Brands</strong>（纳斯达克：TLRY）在大麻市场上已经领先一段时间，并且仍然保持这一地位。这家大麻种植商是否是投资于这一扩展机会的最佳价值股票？</p>
</div><p><em><strong>Will AI create the world's first trillionaire?</strong> Our team just released a report on the one little-known company, called an &#34;Indispensable Monopoly&#34; providing the critical technology Nvidia and Intel both need. <strong>Continue »</strong></em></p>
<div class="lb-trans"><p><em><strong>人工智能会创造出世界上第一个万亿富翁吗？</strong> 我们的团队刚刚发布了一份关于一家鲜为人知的公司报告，该公司被称为 “不可或缺的垄断”，提供 Nvidia 和 Intel 都需要的关键技术。<strong>继续 »</strong></em></p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vZy5mb29sY2RuLmNvbS9lZGl0b3JpYWwvaW1hZ2VzLzg2Njc0Mi90aWxyYXktbG9nby5wbmcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F866742%2Ftilray-logo.png&amp;w=700"/></p>
<p>Image source: The Motley Fool.</p>
<div class="lb-trans"><p>图片来源：The Motley Fool。</p>
</div><h2>Why Tilray Brands might be a great pick</h2>
<div class="lb-trans"><h2>为什么 Tilray Brands 可能是一个不错的选择</h2>
</div><p>Tilray has one of the leading market shares in Canada, where recreational use of marijuana -- including cannabis infused drinks -- are legal. The company expanded its business significantly and now has a large beverage segment, which typically accounts for between 20% and 30% of its quarterly revenue. It isn't just in Canada either. Tilray established itself as a leading craft brewer (specifically, the fourth-largest) in the U.S. market through acquisitions.</p>
<div class="lb-trans"><p>Tilray 在加拿大的市场份额领先，那里娱乐性大麻使用——包括含大麻饮料——是合法的。该公司大幅扩展了其业务，现在拥有一个大型饮料部门，通常占其季度收入的 20% 到 30%。这不仅仅是在加拿大。Tilray 通过收购在美国市场确立了自己作为领先的精酿啤酒商（具体来说是第四大）。</p>
</div><p>That means the company has a network of brands and an established commercial footprint that put it in a strong position to profit from the growing demand for cannabis-infused beverages. True, there are some potential roadblocks. Most notably, marijuana remains illegal at the federal level in the U.S. However, if that were to change in the next eight years, Tilray could be one of the major beneficiaries. Meanwhile, the company's shares are trading at just under $6 apiece. And the company's forward price-to-sales of 0.7 (anything under 2 is usually considered &#34;good&#34;) suggests it might be deeply undervalued.</p>
<div class="lb-trans"><p>这意味着该公司拥有品牌网络和成熟的商业足迹，使其在满足日益增长的含大麻饮料需求方面处于强势地位。确实，存在一些潜在的障碍。最显著的是，大麻在美国联邦层面仍然是非法的。然而，如果在未来八年内这一情况发生变化，Tilray 可能会成为主要受益者。同时，该公司的股票交易价格刚刚低于 6 美元。而且该公司的前瞻市销率为 0.7（通常认为低于 2 是 “良好” 的），这表明其可能被严重低估。</p>
</div><h2>Reasons to be skeptical</h2>
<div class="lb-trans"><h2>怀疑的理由</h2>
</div><p>Tilray's shares look cheap for a reason: The company's financial results in recent years have been terrible. It has posted inconsistent revenue growth and consistent net losses.</p>
<div class="lb-trans"><p>Tilray 的股票看起来便宜是有原因的：该公司近年来的财务业绩糟糕。它的收入增长不稳定，净亏损持续。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-dXJsPWh0dHBzOi8vbWVkaWEueWNoYXJ0cy5jb20vY2hhcnRzLzg3ODlmZTkzMDdiNzhkY2EwOTQzZWFmZTY2ZWMwZjY5LnBuZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fmedia.ycharts.com%2Fcharts%2F8789fe9307b78dca0943eafe66ec0f69.png&amp;w=700"/></p>
<p>TLRY Revenue (Quarterly) data by YCharts</p>
<div class="lb-trans"><p>TLRY 收入（季度）数据来自 YCharts</p>
</div><p>It isn't all Tilray's fault. The cannabis market has faced regulatory challenges along with stiff competition that has led to oversupply issues. Even if it isn't Tilray's fault, the fact is that the company's results inspire little confidence. Can the pot grower bounce back? Consider the possibility that cannabis will become legal at the federal level in the U.S. Besides the fact that no one can predict that for sure, it isn't even obvious that it would solve Tilray's problems. After all, the company hasn't performed well despite pot being legal in Canada.</p>
<div class="lb-trans"><p>这并不全是 Tilray 的错。大麻市场面临监管挑战以及激烈竞争，导致供过于求的问题。即使这不是 Tilray 的错，事实是该公司的业绩令人缺乏信心。这个大麻种植商能否反弹？考虑一下大麻在美国联邦层面合法化的可能性。除了没有人能准确预测这一点外，甚至不明显这会解决 Tilray 的问题。毕竟，该公司在加拿大合法化的情况下表现也不佳。</p>
</div><p>True, the U.S. would present a much larger opportunity than the Canadian market. But the reality on the ground is that legalization would open new avenues for growth, along with new problems. For example, Tilray Brands might have a lead on its peers in the beverage category. However, it wouldn't be that difficult for beverage giants to enter the market for cannabis-infused drinks if marijuana becomes legal at the federal level.</p>
<div class="lb-trans"><p>确实，美国市场将提供比加拿大市场更大的机会。但现实是，合法化将开启新的增长途径，同时也带来新的问题。例如，Tilray Brands 在饮料类别中可能领先于同行。然而，如果大麻在联邦层面合法化，饮料巨头进入含大麻饮料市场并不困难。</p>
</div><p>Dealing with competition from cash-rich corporations with well-known brands and deep experience in highly regulated consumer goods niches might not go too well for Tilray. The company might emerge victorious regardless, perhaps by partnering with such a beverage maker. But it's hard to predict that.</p>
<div class="lb-trans"><p>与拥有丰富现金、知名品牌和在高度监管的消费品领域拥有深厚经验的公司竞争，Tilray 可能不会太顺利。该公司可能会通过与这样的饮料制造商合作而获得胜利。但这很难预测。</p>
</div><h2>Is Tilray Stock a buy?</h2>
<div class="lb-trans"><h2>Tilray 股票值得购买吗？</h2>
</div><p>Tilray faces a challenging, highly competitive market with significant regulatory scrutiny. Further, the industry's prospects remain uncertain. There has been some regulatory progress in the U.S. over the past year -- authorities in the country have officially made marijuana a Schedule III substance, which changes things for the better for corporations in the sector -- but there remain plenty of risks.</p>
<div class="lb-trans"><p>Tilray 面临着一个具有挑战性、竞争激烈的市场，并受到重大监管审查。此外，该行业的前景仍然不确定。在过去一年中，美国在监管方面取得了一些进展——该国当局已正式将大麻列为第三类物质，这对该行业的公司来说是个好消息——但仍然存在许多风险。</p>
</div><p>Finally, even if Tilray's best-case scenario unfolds and marijuana becomes legal at the federal level in the U.S., the company might still fail to turn things around. In short, Tilray isn't a stock worth considering right now, for value investors and others. It's best to look elsewhere.</p>
<div class="lb-trans"><p>最后，即使 Tilray 的最佳情况出现，大麻在美国联邦层面合法化，该公司仍可能无法扭转局面。简而言之，Tilray 目前并不是一个值得考虑的股票，无论是对于价值投资者还是其他人。最好寻找其他投资机会。</p>
</div><h2>Should you buy stock in Tilray Brands right now?</h2>
<div class="lb-trans"><h2>你现在应该购买 Tilray Brands 的股票吗？</h2>
</div><p>Before you buy stock in Tilray Brands, consider this:</p>
<div class="lb-trans"><p>在你购买 Tilray Brands 的股票之前，请考虑以下几点：</p>
</div><p>The <em>Motley Fool Stock Advisor</em> analyst team just identified what they believe are the <strong>10 best stocks</strong> for investors to buy now… and Tilray Brands wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.</p>
<div class="lb-trans"><p>_Motley Fool Stock Advisor_分析团队刚刚确定了他们认为的 <strong>10 只最佳股票</strong> 供投资者现在购买……而 Tilray Brands 并不在其中。入选的 10 只股票在未来几年可能会产生巨大的回报。</p>
</div><p>Consider when <strong>Netflix</strong> made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, <strong>you’d have $473,985</strong>!* Or when <strong>Nvidia</strong> made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, <strong>you’d have $1,204,650</strong>!*</p>
<div class="lb-trans"><p>考虑一下 <strong>Netflix</strong> 在 2004 年 12 月 17 日进入这个名单时……如果你在我们推荐时投资了 1000 美元，<strong>你将拥有 473,985 美元</strong>！* 或者 <strong>Nvidia</strong> 在 2005 年 4 月 15 日进入这个名单时……如果你在我们推荐时投资了 1000 美元，<strong>你将拥有 1,204,650 美元</strong>！*</p>
</div><p>Now, it’s worth noting <em>Stock Advisor’s</em> total average return is 950% — a market-crushing outperformance compared to 203% for the S&amp;P 500. <strong>Don't miss the latest top 10 list, available with <em>Stock Advisor</em>, and join an investing community built by individual investors for individual investors.</strong></p>
<div class="lb-trans"><p>现在，值得注意的是_Stock Advisor_的总平均回报率为 950%——相比之下，标准普尔 500 指数的回报率为 203%。<strong>不要错过最新的前 10 名单，使用_Stock Advisor_，加入由个人投资者为个人投资者建立的投资社区。</strong></p>
</div><p><strong>See the 10 stocks »</strong></p>
<div class="lb-trans"><p><strong>查看这 10 只股票 »</strong></p>
</div><p><em>*Stock Advisor returns as of May 6, 2026.</em></p>
<div class="lb-trans"><p><em>*Stock Advisor 的回报截至 2026 年 5 月 6 日。</em></p>
</div><p><em>Prosper Junior Bakiny has no position in any of the stocks mentioned. The Motley Fool recommends Tilray Brands. The Motley Fool has a disclosure policy.</em></p>
<div class="lb-trans"><p><em>Prosper Junior Bakiny 在提到的任何股票中均没有持仓。The Motley Fool 推荐 Tilray Brands。The Motley Fool 有披露政策。</em></p>
</div><p>The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.</p>
<div class="lb-trans"><p>此处表达的观点和意见是作者的观点和意见，并不一定反映纳斯达克公司的观点。</p>
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Tilray 是否是价值 74 亿美元的大麻饮料市场中最具价值的投资选择？