Why Tilray Brands Stock Jumped Today
Shares of Tilray Brands (NASDAQ: TLRY) climbed as much as 10.4% early Wednesday, then settled to trade up 6.4% as of 1:30 p.m. ET after the Canada-based consumer goods company expanded its line of cannabis beverages.
More specifically in a press release this morning, Tilray unveiled a range of new cannabis-infused beverages, including tropical cream soda, fruit punch, and iced tea varieties from XMG (Canada's No. 1 cannabis-infused beverage brand), as well as cider, lime, and lager-based options from its Mollo craft brewing brands.
"Tilray's commitment to innovation and consumer satisfaction is exemplified by our expansive beverage offerings from XMG and Mollo," stated Tilray Canada President Blair MacNeil. "With the success of recent introductions from other Tilray brands, such as Solei and RIFF, we have firmly positioned ourselves as leaders in the cannabis beverage market."
Source Fool.com
