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Stock impact report

Tilray Brands launches THC drinks in US [Yahoo! Finance]

Tilray Brands, Inc. (TLRY) 
Last tilray brands, inc. earnings: 3/2 04:05 pm Check Earnings Report
Company Research Source: Yahoo! Finance
Speaking to investors following the publication of Tilray's full-year results in July, chairman and CEO Irwin Simon said a “lot of” beer distributors had contacted the group requesting THC beverage brands. In March, Tilray developed a range of alcohol-free seltzers under its cannabis-infused drinks brand Mollo in Canada. Marijuana is already legalised for adult use in 24 US states. In May, US President Joe Biden set out plans to reclassify marijuana as a less addictive drug under federal law. In California, emergency legislation proposed by Governor Gavin Newsom that bans the sale of hemp THC products in the state was passed this week. The ban affects hemp food, beverage and dietary products that have a detectable level of THC. Tilray's net revenue from its beverage-alcohol business stood at C$202.1m ($145.9m) in the year ending 31 May, more than double a year earlier. Gross profit from the division was up 91% to C$88.6m year on year. On a group level, Tilray reported reven Show less Read more
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