Tilray Brands, Inc. TLRY shares are trading higher Wednesday. The stock appears to be moving on continued upward momentum, rising nearly 60% over the last month.
What To Know:
On Aug. 8, Tilray announced that the company will acquire several brands including Shock Top, Breckenridge Brewery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Company, and HiBall Energy from Anheuser-Busch Inbev BUD. The transaction will include current employees, breweries and brewpubs associated with the brands and is expected to close in 2023.
Shares of TLRY are moving higher on above-average trading volume. According to Benzinga Pro, more than 21 million shares have already been traded in the session, compared to the stock's 100-day average of 22.7 million shares. Short sellers have taken interest in TLRY with 11.96% of available shares being sold short.
Related News: What's Going On With SNDL Stock?
TLRY Price Action: According to Benzinga Pro, Tilray shares are up nearly 5% at $2.65 at the time of publication.
Image: squarefrog from Pixabay
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Cannabis is evolving – don’t get left behind!
Curious about what’s next for the industry and how to leverage California’s unique market?
Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!
Get your tickets now to secure your spot and avoid last-minute price hikes.