What's Going On With Tilray Brands Stock On Wednesday?
Tilray Brands, Inc. (NASDAQ:TLRY) shares are trading relatively flat in the premarket session on Wednesday.
The firm has announced a product line expansion through its subsidiary, High Park Holdings Ltd., entering deeper into Canada's cannabis-infused consumer market.
The launch of XMG Atomic Sours, a new lineup of sour-flavored cannabis drinks and gummies, is the latest move in Tilray's bid to diversify its product portfolio and tap into emerging customer preferences.
Tilray said that the XMG Atomic Sours beverages is available nationwide via select retailers.
It includes the flavors Cherry Blasted Lime and Foggy Peaches. Each 355ml drink includes 10mg of THC, 10mg of CBG, and a caffeine content of 30mg sourced from guarana extract.
According to the company, the beverages utilize nano-emulsified THCA diamonds to speed up onset time, aligning with demand for fast-acting cannabis products.
The XMG Atomic Sours Gummies represent High Park's entry into the cannabis edibles space.
Plant-based pectin is used in place of gelatin, and the gummies are shaped like keys—a nostalgic nod aimed at invoking flavor memories. The company describes the flavor experience as "intensely sour."
This apart, the company continues to grow its cannabis and beverage offerings in North America and recently saw the return of its Blue Point Brewing Co. Delayed Pilsner—targeted at the New York commuting crowd—back on shelves earlier this month.
The brand expansion aligns with Tilray's long-term strategy to compete across multiple cannabis consumption categories.
According to Benzinga Pro, TLRY stock has lost over 78% in the past year. Investors can gain exposure to the stock via AdvisorShares Pure Cannabis ETF (NYSE:YOLO).
Price Action: TLRY shares are trading higher by 0.09% to $0.4508 premarket at last check Wednesday.
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