It's hard to make money in cannabis, so the world's largest cannabis companies are pivoting. The Canadian cannabis company Tilray in early November acquired Montauk Brewing Company, a New York craft-beer brewer. In a November 11 note, analysts at the investment bank Jefferies called Canopy's core Canadian cannabis business "a sideshow." Tilray's cannabis business slumps, while beer boomsLike Canopy, Tilray's core cannabis business is also declining while its beverage unit and other businesses are growing. Beyond cutting costs, it was, therefore, only a matter of time before the world's largest cannabis companies, with investors and shareholders breathing down their necks, looked elsewhere to boost their margins.

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