King Cannabis Going the Distance Irwin Simon, the chairman and CEO of Tilray Brands, stated the following in the company’s Q3 2024 earnings call transcript:
"In the U.S., Tilray has multiple options and, in particular, is well positioned to benefit from the federal legalization of medical cannabis as a result of rescheduling. Yes, we believe that the rescheduling of cannabis from Schedule I to Schedule III in the U.S. would provide a path for Tilray to sell pharmaceutical-grade medical cannabis in the U.S. subject to doctor prescriptions."
As a result of the rescheduling announcement by the US Justice Department on May 16th, Tilray saw its share price move up by 6.3%. A day later, the company announced that it had filed for the sale of up to $250 million worth of its common stock through an at-the-market equity program. Tilray Brands, Inc. (NASDAQ:TLRY) plans to use proceeds from the sale to fund acquisitions or investments, including potential purchases of assets in the U.S. ‘in order to capitalize on expected regulatory advancements or expansion opportunities’.
As a result of the rescheduling announcement by the US Justice Department on May 16th, Tilray saw its share price move up by 6.3%. A day later, the company announced that it had filed for the sale of up to $250 million worth of its common stock through an at-the-market equity program. Tilray Brands, Inc. (NASDAQ:TLRY) plans to use proceeds from the sale to fund acquisitions or investments, including potential purchases of assets in the U.S. ‘in order to capitalize on expected regulatory advancements or expansion opportunities’.
TLRY has also made significant efforts to diversify and is now the 5th largest craft beer business in the U.S. after it agreed to acquire eight beer and beverage brands from Anheuser-Busch InBev for an undisclosed amount last year. Moreover, earlier this year, Tilray’s Breckenridge Distillery celebrated the wins of World’s Best Finished Bourbon, America’s Best Finished Bourbon, and Icons of Whisky Campaign Innovator of the Year: Highly Commended at the 2024 World Whiskies Awards. So it comes as no surprise that TLRY is also included in our list of the 10 Best Alcohol Stocks to Buy Now
$TLRY EU Germany On Fire!!!!!!!!!!!!!!!!US Alcohol/Global Beverages!!!!!!!!!!!!!!!!Excise Tax Change!!!!!!!!!!!!!!!!!!!!!!!!!!