The last few weeks have been especially busy for Tilray Brands, Inc. (Nasdaq: TLRY) (TSX: TLRY) and the management team has reported several significant developments.
Most recently, the global cannabis and consumer packaged goods (CPG) company released new medical cannabis products and launched CannaPoints, a program that was developed to support Canadian medical cannabis patients.
The new products and the CannaPoints program were announced a few days after Tilray’s medical cannabis division received approval from the Natural Health Science Foundation (NHSF) for the use of its flagship product, Tilray Purified Oral Solution CBD100, in clinical trials in Australia and in New Zealand.
From medical cannabis sales to clinical trials, Tilray’s management team is focused on attractive verticals of the cannabis sector. We believe the recent developments have enhanced the company’s growth prospects in North America and across the rest of the globe.
Although Tilray has reported several important milestones so far this year, the stock has been under pressure with the rest of the cannabis sector. During the last month, the global cannabis and CPG company has come well off its 2022 lows and we believe the next few weeks are especially important for the business.
September is around the corner and the summer slowdown seems to have ended earlier than normal for the cannabis sector. If so, it would appear that the sector has come back to life during one of the more challenging periods of the year and we believe this is significant.
2022 has been a tough year for the Canadian cannabis sector and Canopy Growth Corporation (Nasdaq: CGC) (TSX: WEED) has been especially impacted by the negative momentum. As a result, the market has become even more focused on how Tilray Brands performs and we will monitor the management team is able to drive the story forward.
If you are interested in learning about Tilray’s leverage to the global cannabis market, please send an email to firstname.lastname@example.org with the subject “Tilray Brands” to be added to our distribution list.