What's Going On With Tilray Brands Stock?

Tilray Brands, Inc. TLRY stock is trading higher. The company on Thursday introduced a new product to its cannabis wellness brand Solei.

The Details: Tilray has announced the Warming Deep Tissue Stick as the latest addition to its Solei cannabis wellness brand. The brand’s first cannabis-infused roll-on topical is focused on capturing the interest of consumers looking for a more functional, convenient and long-term cannabis infused wellness item.

The product contains 300mg of THC and 300mg of CBD combined with nourishing shea butter, coconut and jojoba oil. It provides a cooling sensation with a minty scent while it warms to provide targeted warmth.

The Warming Deep Tissue Stick will be available in Ontario and select retailers across Canada starting next month. The company noted that it plans to expand its topical roll-on line with another release containing higher potency later this summer.

Related Link: Who Is Buying Marijuana And Why? Market Data Provides Behavior, Profiles & Insights For Investors

Tilray shares are up about 7% over the last month as cannabis stocks have rallied in anticipation of marijuana rescheduling in the U.S. The Biden administration is in the process of taking steps to reclassify cannabis from a Schedule I drug to a Schedule III drug.

TLRY Price Action: At the time of writing, Tilray Brands stock was up 0.54% at $1.87, according to data from Benzinga Pro.

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