Germany is the catalyst that could open up a whole continent of medical and recreational-cannabis revenue for Tilray (TLRY) - Get Tilray, Inc. Report.
The company has been laying the groundwork to leverage changing laws in Europe.
"With the anticipated legalization of recreational cannabis in Germany, we believe other EU countries will follow suit," Chief Financial Officer Carl Merton said on the company's fiscal-second-quarter earnings conference call.
Tilray has growing facilities in Germany and Portugal. And the company has held talks with German officials, with the expectation that recreational-use cannabis will become legal in the country, which has nearly 85 million people.
Germany's incoming coalition government has agreed to legalize recreational adult use. If it follows through, Germany would become the world's largest federally legal market