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Tilray Brands, Inc. (NASDAQ:TLRY) shares are trading higher Wednesday. The company announced Tuesday that it will acquire four craft breweries from Molson Coors Beverage Company (NYSE:TAP).
The Details:
Tilray will acquire Hop Valley Brewing Company, Terrapin Beer Co., Revolver Brewing, and Atwater Brewery from Molson Coors. The company said the acquisition will position it for growth within the beverage industry and expand its portfolio across key beer markets by adding 30% more beer buying accounts.
Tilray expects its beer business to grow to 15 million cases annually, following the acquisition.
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“Tilray Brands is proud to be driving the most compelling and unique growth story in the craft beer industry. With the acquisition of these four craft breweries from Molson Coors, we are marking another strategic milestone in Tilray Brands’ growth plan. Our team’s expertise in operational excellence will enable us to unlock the full potential of these brands and businesses," said Irwin D. Simon, CEO of Tilray Brands.
According to data from Benzinga Pro, Tilray shares are up nearly 8% over the past five days and are trading above the stock’s 50-day moving average of $1.79.
Whether to sell or hold a stock largely depends on an investor's strategy and risk tolerance. Swing traders may sell an outperforming stock to lock in a capital gain, while long-term investors might ride out the turbulence in anticipation of further share price growth.
Similarly, traders willing to minimize losses may sell a stock that falls a certain percentage, while long-term investors may see this as an opportunity to buy more shares at a discounted price.
Shares of Tilray Brands have lost 29.09% year to date. This compares to the average annual return of -47.76%, meaning the stock has outperformed its historical averages. Investors can compare a stock's movement to its historical performance to gauge whether this is a normal movement or a potential trading opportunity.
Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Tilray Brands stock currently has an RSI of 48.64, indicating neutral conditions.
For analysis tools, charting data and access to exclusive stock news, check out Benzinga PRO. Try it for free.
TLRY Price Action: According to Benzinga Pro, Tilray Brands shares are up 2.68% at $1.91 at the time of publication Wednesday.
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Image generated using artificial intelligence via MidJourney.
