What's Going On With Tilray Brands Stock?
Portfolio Pulse from Henry Khederian
Tilray Brands Inc (NASDAQ:TLRY) shares are trading lower by 7.0% to $2.66 following the company's announcement of an agreement to acquire eight beer and beverage brands from Anheuser-Busch. The acquisition will make Tilray the 5th largest craft beer business in the U.S., up from 9th. The transaction is expected to close in 2023.
August 10, 2023 | 2:19 pm
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Tilray's stock price has dropped by 7.0% following the announcement of its acquisition of eight beer and beverage brands from Anheuser-Busch. This acquisition will elevate Tilray to the 5th largest craft beer business in the U.S.
The drop in Tilray's stock price is likely due to investors taking profits after the announcement of the acquisition. The acquisition is a significant move for Tilray, potentially increasing its market share in the U.S. craft beer market. However, the transaction is expected to close in 2023, which may be causing some uncertainty among investors.
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