What’s Behind the Surge of Tilray Brands? What’s Behind the Surge of Tilray Brands?

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Tilray Brands, Inc. TLRY shares are trading higher Thursday, and the stock is up by more than 20% over the past five days. Here’s a look at what’s going on.

Positive Developments:

Last week Tilray closed on two private debt-for-equity exchange transactions, according to an SEC filing. Pursuant to these transactions, the company issued an aggregate of 9,601,538 shares of common stock in exchange for $18,500,000.00 aggregate principal amount of the company’s 5.25% convertible senior notes due June 1, 2024.

Tilray’s cannabis wellness brand Solei recently introduced three new cannabis-infused tea blends which focused on intentional consumption of its cannabinoid variations of CBD, CBN, and THC. The introduction of these teas indicates a continuing effort to diversify product offerings and cater to a broader consumer base.

In November, the Canadian weed giant expanded its marijuana beverage portfolio with a range of new products from its brands XMG and Mollo. This expansion suggests a proactive approach by Tilray to adapt to market demands and capitalize on emerging trends in the cannabis industry.

Tilray is set to release its second-quarter financial results before the market open on Jan. 9 and will host a conference call to discuss the results at 8:30 a.m. ET the same day. According to estimates from Benzinga Pro, the company is expected to report a loss of 6 cents per share and quarterly revenue of $195.097 million. Investors are eagerly anticipating these financial results as they seek insights into the company’s performance and future prospects.

TLRY Price Action: According to Benzinga Pro, Tilray Brands shares are up 10.5% at $2.47 at the time of publication.

Image: Print On Demand from Pixabay

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