Tilray's New Cannabis Strains By Redecan: Here's Where To Find These Innovative Products
Portfolio Pulse from Jelena Martinovic
Tilray Brands, Inc. (NASDAQ:TLRY) (TSX:TLRY) is launching new cannabis strains through its lifestyle brand Redecan. This move follows Tilray's acquisition of HEXO Corp. The new strains will be available in Ontario, Alberta, and soon in British Columbia. The acquisition of HEXO allowed Tilray to double its pre-roll segment share and maintain a diversified portfolio with 161 SKUs listed. Tilray's shares traded 2.01% lower at $2.92 per share during the pre-market session on Thursday.
September 07, 2023 | 1:43 pm
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NEUTRAL IMPACT
Tilray's new product launch and its acquisition of HEXO Corp could potentially boost its market position. However, its shares traded lower in the pre-market session.
The launch of new products and the acquisition of HEXO Corp could potentially strengthen Tilray's market position. However, the immediate impact on the stock price was negative, with shares trading lower in the pre-market session. This suggests that investors may be taking a wait-and-see approach to assess the success of the new product launch and the integration of HEXO Corp into Tilray's operations.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100