All articles tagged with #tilray
Tilray Brands reported a surprise profit and saw its stock rise, but then announced a large share offering and potential share sales by a shareholder, leading to a significant stock decline and investor disappointment.
Marijuana stocks, including Tilray, Cronos Group, and Canopy Growth, surged as Vice President Kamala Harris expressed support for reducing federal regulation of marijuana in the U.S. and Germany passed a law to fully legalize the drug, set to take effect on April 1. This news, along with Canopy Growth's move to set up a Canopy USA holding company, drove stock prices up, with Tilray and Canopy Growth positioned to benefit the most from Germany's legalization.
Cannabis company Tilray has completed its acquisition of eight beer brands from Anheuser-Busch, expanding its presence in the craft brew industry. The deal includes well-known labels such as Shock Top, Breckenridge Brewery, and Blue Point Brewing Company. The financial details of the acquisition were not disclosed, but Tilray expects its beer sales volume to triple from four million cases to 12 million. This acquisition provides Tilray with additional manufacturing capacity and innovation capabilities for commercial expansion opportunities. Shares of Tilray fell over 3% following the announcement.
Canadian cannabis company Tilray has completed its all-cash acquisition of several beer and beverage brands from Anheuser-Busch, including craft beer labels Shock Top and Breckenridge Brewery. With this deal, Tilray becomes the fifth largest craft beer business in the U.S. and expands its market share in the U.S. Craft Beer Market to 5%. CEO Irwin Simon sees this move as a strategic adaptation to current market realities due to the delayed federal cannabis legalization in the U.S.