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Tilray's CEO Expects at Least a Dozen Cannabis Bankruptcies in 2020 -- Is He Right?

David Jagielski, The Motley Fool
·5 min read
Tilray's CEO Expects at Least a Dozen Cannabis Bankruptcies in 2020 -- Is He Right?

Canadian cannabis company Tilray's (NASDAQ: TLRY) CEO believes that at least 12 marijuana companies will go under this year. In March, Tilray announced that it would be raising $90.4 million through an offering, largely because the company still could. CEO Brendan Kennedy told BNN Bloomberg that he "wasn't sure anyone was going to be able to raise any money in this industry again" and that "when we had the opportunity to strengthen the balance sheet, we did."

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