What's Happening With Tilray Brands Stock This Wednesday?

Tilray Brands, Inc. (NASDAQ: TLRY) shares are showing little movement on Wednesday, fluctuating around flat. The company’s stock price experienced a slight rise following two important announcements made in recent days.

On Wednesday, Tilray announced a major expansion for Runner’s High Brewing, its non-alcoholic craft beer brand. The brand will now be available in 4,500 new retail locations, increasing its visibility in various markets.

This expansion includes partnerships with well-known retailers like Publix, HEB, Harris Teeter, and Lowes Foods. With this rollout, Tilray aims to position Runner’s High as a preferred choice for athletes and beer enthusiasts alike.

Runner’s High offers three distinct products: Golden Wheat, Raspberry Wheat, and Dark Chocolate. Each variety is low in calories, appealing primarily to health-conscious consumers. By catering to this demographic, Tilray hopes to capture a larger market share among craft beer drinkers.

Additionally, Runner’s High is strengthening its ties to the running community via a partnership with the Atlanta Track Club, along with its involvement in the notable Peachtree Road Race scheduled for this July.

In a separate move, Tilray introduced a new brand extension known as Tilray Craft, which was launched just a day earlier. This new addition to its medical cannabis line will focus on offering cannabis products rich in THC and terpenes, specifically for medicinal purposes.

The first product under the Tilray Craft label is the Cannabisblüten THC 25 TAM, a hybrid strain that leans towards sativa. This product is designed to meet the needs of patients seeking high-quality, flower-based cannabis options.

As of now, TLRY shares have witnessed a decline of over 63% over the past year, indicating a challenging market period for investors. For those interested in gaining exposure to the cannabis sector, options such as the Amplify ETF Trust Amplify Alternative Harvest ETF (MJ) and the AdvisorShares Pure Cannabis ETF (YOLO) are available.

Price Action: At the latest check, TLRY shares are trading down by 0.22%, with a current price of $0.6083.

Tilray, Cannabis, Beer