<h2>關鍵要點</h2>
<ul>
<li>Tilray Brands 是大麻行業的領導者，在飲料市場上佔有重要地位。</li>
<li>這可能使這家大麻種植商能夠從不斷增長的含大麻飲料市場中獲利。</li>
<li>然而，仍需考慮重大風險。</li>
<li>我們更看好的 10 只股票 ›</li>
</ul>
<p>儘管大麻股票在過去五年表現不佳，但該行業仍然有一些希望。根據一些預測，市場將在未來幾年繼續擴張，特別是在北美。而且，增長的不僅僅是對乾燥大麻花的需求。例如，含大麻飲料的市場今年可能價值約 74 億美元，到 2034 年可能增長到 2426.8 億美元，年複合增長率為 54.62%。</p>
<p><strong>Tilray Brands</strong>（納斯達克：TLRY）在大麻市場上已經領先一段時間，並且仍然保持這一地位。這家大麻種植商是否是投資於這一擴展機會的最佳價值股票？</p>
<p><em><strong>人工智能會創造出世界上第一個萬億富翁嗎？</strong> 我們的團隊剛剛發佈了一份關於一家鮮為人知的公司報告，該公司被稱為 “不可或缺的壟斷”，提供 Nvidia 和 Intel 都需要的關鍵技術。<strong>繼續 »</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>圖片來源：The Motley Fool。</p>
<h2>為什麼 Tilray Brands 可能是一個不錯的選擇</h2>
<p>Tilray 在加拿大的市場份額領先，那裏娛樂性大麻使用——包括含大麻飲料——是合法的。該公司大幅擴展了其業務，現在擁有一個大型飲料部門，通常佔其季度收入的 20% 到 30%。這不僅僅是在加拿大。Tilray 通過收購在美國市場確立了自己作為領先的精釀啤酒商（具體來説是第四大）。</p>
<p>這意味着該公司擁有品牌網絡和成熟的商業足跡，使其在滿足日益增長的含大麻飲料需求方面處於強勢地位。確實，存在一些潛在的障礙。最顯著的是，大麻在美國聯邦層面仍然是非法的。然而，如果在未來八年內這一情況發生變化，Tilray 可能會成為主要受益者。同時，該公司的股票交易價格剛剛低於 6 美元。而且該公司的前瞻市銷率為 0.7（通常認為低於 2 是 “良好” 的），這表明其可能被嚴重低估。</p>
<h2>懷疑的理由</h2>
<p>Tilray 的股票看起來便宜是有原因的：該公司近年來的財務業績糟糕。它的收入增長不穩定，淨虧損持續。</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）數據來自 YCharts</p>
<p>這並不全是 Tilray 的錯。大麻市場面臨監管挑戰以及激烈競爭，導致供過於求的問題。即使這不是 Tilray 的錯，事實是該公司的業績令人缺乏信心。這個大麻種植商能否反彈？考慮一下大麻在美國聯邦層面合法化的可能性。除了沒有人能準確預測這一點外，甚至不明顯這會解決 Tilray 的問題。畢竟，該公司在加拿大合法化的情況下表現也不佳。</p>
<p>確實，美國市場將提供比加拿大市場更大的機會。但現實是，合法化將開啓新的增長途徑，同時也帶來新的問題。例如，Tilray Brands 在飲料類別中可能領先於同行。然而，如果大麻在聯邦層面合法化，飲料巨頭進入含大麻飲料市場並不困難。</p>
<p>與擁有豐富現金、知名品牌和在高度監管的消費品領域擁有深厚經驗的公司競爭，Tilray 可能不會太順利。該公司可能會通過與這樣的飲料製造商合作而獲得勝利。但這很難預測。</p>
<h2>Tilray 股票值得購買嗎？</h2>
<p>Tilray 面臨着一個具有挑戰性、競爭激烈的市場，並受到重大監管審查。此外，該行業的前景仍然不確定。在過去一年中，美國在監管方面取得了一些進展——該國當局已正式將大麻列為第三類物質，這對該行業的公司來説是個好消息——但仍然存在許多風險。</p>
<p>最後，即使 Tilray 的最佳情況出現，大麻在美國聯邦層面合法化，該公司仍可能無法扭轉局面。簡而言之，Tilray 目前並不是一個值得考慮的股票，無論是對於價值投資者還是其他人。最好尋找其他投資機會。</p>
<h2>你現在應該購買 Tilray Brands 的股票嗎？</h2>
<p>在你購買 Tilray Brands 的股票之前，請考慮以下幾點：</p>
<p>_Motley Fool Stock Advisor_分析團隊剛剛確定了他們認為的 <strong>10 只最佳股票</strong> 供投資者現在購買……而 Tilray Brands 並不在其中。入選的 10 只股票在未來幾年可能會產生巨大的回報。</p>
<p>考慮一下 <strong>Netflix</strong> 在 2004 年 12 月 17 日進入這個名單時……如果你在我們推薦時投資了 1000 美元，<strong>你將擁有 473,985 美元</strong>！* 或者 <strong>Nvidia</strong> 在 2005 年 4 月 15 日進入這個名單時……如果你在我們推薦時投資了 1000 美元，<strong>你將擁有 1,204,650 美元</strong>！*</p>
<p>現在，值得注意的是_Stock Advisor_的總平均回報率為 950%——相比之下，標準普爾 500 指數的回報率為 203%。<strong>不要錯過最新的前 10 名單，使用_Stock Advisor_，加入由個人投資者為個人投資者建立的投資社區。</strong></p>
<p><strong>查看這 10 只股票 »</strong></p>
<p><em>*Stock Advisor 的回報截至 2026 年 5 月 6 日。</em></p>
<p><em>Prosper Junior Bakiny 在提到的任何股票中均沒有持倉。The Motley Fool 推薦 Tilray Brands。The Motley Fool 有披露政策。</em></p>
<p>此處表達的觀點和意見是作者的觀點和意見，並不一定反映納斯達克公司的觀點。</p>

TLRY

VICE

納斯達克食品飲料 ETF - First Trust

<p>Tilray Brands 是價值 74 億美元的大麻飲料市場的重要參與者，在加拿大和美國擁有強大的市場存在。然而，該公司面臨着挑戰，包括收入增長不穩定和淨虧損。儘管大麻市場預計將增長，但美國潛在的聯邦合法化可能帶來機遇和競爭加劇。分析師建議，Tilray 目前可能不是一個值得投資的選擇，建議投資者考慮其他股票</p>

<h2>Key Points</h2>
<div class="lb-trans"><h2>關鍵要點</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 是大麻行業的領導者，在飲料市場上佔有重要地位。</li>
<li>這可能使這家大麻種植商能夠從不斷增長的含大麻飲料市場中獲利。</li>
<li>然而，仍需考慮重大風險。</li>
<li>我們更看好的 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>儘管大麻股票在過去五年表現不佳，但該行業仍然有一些希望。根據一些預測，市場將在未來幾年繼續擴張，特別是在北美。而且，增長的不僅僅是對乾燥大麻花的需求。例如，含大麻飲料的市場今年可能價值約 74 億美元，到 2034 年可能增長到 2426.8 億美元，年複合增長率為 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>（納斯達克：TLRY）在大麻市場上已經領先一段時間，並且仍然保持這一地位。這家大麻種植商是否是投資於這一擴展機會的最佳價值股票？</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>人工智能會創造出世界上第一個萬億富翁嗎？</strong> 我們的團隊剛剛發佈了一份關於一家鮮為人知的公司報告，該公司被稱為 “不可或缺的壟斷”，提供 Nvidia 和 Intel 都需要的關鍵技術。<strong>繼續 »</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>圖片來源：The Motley Fool。</p>
</div><h2>Why Tilray Brands might be a great pick</h2>
<div class="lb-trans"><h2>為什麼 Tilray Brands 可能是一個不錯的選擇</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 在加拿大的市場份額領先，那裏娛樂性大麻使用——包括含大麻飲料——是合法的。該公司大幅擴展了其業務，現在擁有一個大型飲料部門，通常佔其季度收入的 20% 到 30%。這不僅僅是在加拿大。Tilray 通過收購在美國市場確立了自己作為領先的精釀啤酒商（具體來説是第四大）。</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>這意味着該公司擁有品牌網絡和成熟的商業足跡，使其在滿足日益增長的含大麻飲料需求方面處於強勢地位。確實，存在一些潛在的障礙。最顯著的是，大麻在美國聯邦層面仍然是非法的。然而，如果在未來八年內這一情況發生變化，Tilray 可能會成為主要受益者。同時，該公司的股票交易價格剛剛低於 6 美元。而且該公司的前瞻市銷率為 0.7（通常認為低於 2 是 “良好” 的），這表明其可能被嚴重低估。</p>
</div><h2>Reasons to be skeptical</h2>
<div class="lb-trans"><h2>懷疑的理由</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 的股票看起來便宜是有原因的：該公司近年來的財務業績糟糕。它的收入增長不穩定，淨虧損持續。</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）數據來自 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>這並不全是 Tilray 的錯。大麻市場面臨監管挑戰以及激烈競爭，導致供過於求的問題。即使這不是 Tilray 的錯，事實是該公司的業績令人缺乏信心。這個大麻種植商能否反彈？考慮一下大麻在美國聯邦層面合法化的可能性。除了沒有人能準確預測這一點外，甚至不明顯這會解決 Tilray 的問題。畢竟，該公司在加拿大合法化的情況下表現也不佳。</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>確實，美國市場將提供比加拿大市場更大的機會。但現實是，合法化將開啓新的增長途徑，同時也帶來新的問題。例如，Tilray Brands 在飲料類別中可能領先於同行。然而，如果大麻在聯邦層面合法化，飲料巨頭進入含大麻飲料市場並不困難。</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>與擁有豐富現金、知名品牌和在高度監管的消費品領域擁有深厚經驗的公司競爭，Tilray 可能不會太順利。該公司可能會通過與這樣的飲料製造商合作而獲得勝利。但這很難預測。</p>
</div><h2>Is Tilray Stock a buy?</h2>
<div class="lb-trans"><h2>Tilray 股票值得購買嗎？</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 面臨着一個具有挑戰性、競爭激烈的市場，並受到重大監管審查。此外，該行業的前景仍然不確定。在過去一年中，美國在監管方面取得了一些進展——該國當局已正式將大麻列為第三類物質，這對該行業的公司來説是個好消息——但仍然存在許多風險。</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>最後，即使 Tilray 的最佳情況出現，大麻在美國聯邦層面合法化，該公司仍可能無法扭轉局面。簡而言之，Tilray 目前並不是一個值得考慮的股票，無論是對於價值投資者還是其他人。最好尋找其他投資機會。</p>
</div><h2>Should you buy stock in Tilray Brands right now?</h2>
<div class="lb-trans"><h2>你現在應該購買 Tilray Brands 的股票嗎？</h2>
</div><p>Before you buy stock in Tilray Brands, consider this:</p>
<div class="lb-trans"><p>在你購買 Tilray Brands 的股票之前，請考慮以下幾點：</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_分析團隊剛剛確定了他們認為的 <strong>10 只最佳股票</strong> 供投資者現在購買……而 Tilray Brands 並不在其中。入選的 10 只股票在未來幾年可能會產生巨大的回報。</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>考慮一下 <strong>Netflix</strong> 在 2004 年 12 月 17 日進入這個名單時……如果你在我們推薦時投資了 1000 美元，<strong>你將擁有 473,985 美元</strong>！* 或者 <strong>Nvidia</strong> 在 2005 年 4 月 15 日進入這個名單時……如果你在我們推薦時投資了 1000 美元，<strong>你將擁有 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>現在，值得注意的是_Stock Advisor_的總平均回報率為 950%——相比之下，標準普爾 500 指數的回報率為 203%。<strong>不要錯過最新的前 10 名單，使用_Stock Advisor_，加入由個人投資者為個人投資者建立的投資社區。</strong></p>
</div><p><strong>See the 10 stocks »</strong></p>
<div class="lb-trans"><p><strong>查看這 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 的回報截至 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沒有持倉。The Motley Fool 推薦 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>此處表達的觀點和意見是作者的觀點和意見，並不一定反映納斯達克公司的觀點。</p>
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Tilray 是否是價值 74 億美元的大麻飲料市場中最具價值的投資選擇？