What's Going On With Tilray Shares?

Tilray Brands, Inc. TLRY shares are trading higher on Thursday. The company announced a renewed national brokerage agreement with Great North Distributors, Inc.

What To Know:

Per the renewed 4-year agreement, Great North will continue to be the exclusive representative for Tilray’s full portfolio of recreational cannabis products across the Canadian marketplace, with the exception of Quebec.

“As the Canadian cannabis retail landscape continues to evolve, continuity in our distributor allows us to capture significant synergies and further optimize our national sales strategy. Our renewed agreement will further drive exceptional route-to-market efficiencies for our market-leading and growing cannabis portfolio which now includes HEXO brands,” stated Blair MacNeil, president of Tilray Canada.

Tilray released its fourth-quarter and fiscal-year 2023 financial results on Wednesday beating analyst's top-line estimates. Shares of TLRY are up by more than 26% over the last five sessions and up more than 36% over the last month.

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TLRY Price Action: According to Benzinga Pro, shares of TLRY are trading 10.9% higher at $2.14 at the time of publication.

Image: herbalhemp from Pixabay