Tilray Brands, Inc. is seeing a positive movement in its stock price today, largely driven by the growing trend of hemp-derived beverages as an alternative during "Dry January." The company has been capitalizing on this trend by selling hemp-derived Delta-9 THC beverages, which reportedly offer profit margins exceeding those of traditional beer sales. These products are being distributed through Tilray's craft beer network across several U.S. states, reaching both independent retailers and major chains like Total Wine & More. This strategic move aligns with the increasing consumer interest in alcohol alternatives, particularly among younger demographics, as highlighted by a recent survey indicating that 83% of Americans find consuming legal THC products acceptable during Dry January.
Additionally, discussions on Reddit reflect a mix of optimism and caution among investors. One user emphasized the potential of cannabis beverages, stating, "Cannabis beverages offer the biggest opportunity," while another expressed concern over potential stock dilution, urging, "Tilray will do a 12/1 split if we don't start buying." Despite these mixed sentiments, the focus on hemp beverages appears to be a key driver of investor interest today.
Tilray's stock is currently trading at $1.19, up 1.05% from the previous close of $1.18. Despite being just an hour into the trading day, the volume is at 16,070,987 shares, representing 48.37% of the average daily volume of 33,222,837 shares, indicating moderate trading activity this morning.