Stock Track | Tilray Soars 5.07% Intraday on Medical Cannabis Expansion in Italy and New Craft Beer Launch

Stock Track01-22

Tilray Inc.'s stock surged 5.07% during intraday trading on Thursday, reflecting strong investor sentiment.

The rally follows the company's announcement of the launch of Tilray Medical Italia, a strategic move to expand its medical cannabis operations in Italy. This rebranding of its former FL Group unit is part of Tilray's plan to strengthen its unified medical cannabis platform across Europe, with products authorized by the Italian Ministry of Health and distributed through a partnership with pharmaceutical firm Molteni Farmaceutici.

Additionally, Tilray's subsidiary SweetWater Brewing Company launched Big Trip Double IPA, a new high-ABV craft beer extension of its popular Daytrip IPA, which is rolling out nationwide. This product innovation aims to capture growing demand in the craft beer segment, further diversifying Tilray's consumer packaged goods portfolio.

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