Cannabis and consumer packaged products provider Tilray Brands (NASDAQ:TLRY) has boosted its presence in the beverage space with the launch of new THC beverages under RIFF, its cannabis lifestyle brand.
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The new canned cannabis beverages are available in two fruity flavors, Blue Raspberry Ice and Wild Raspberry Lemonade. The new products offer natural flavors and sweetness sans any lingering taste of cannabis.
Blair MacNeil, the president of the company, commented, “As the brand (RIFF) continues to evolve, entering the beverage category allows RIFF to broaden its current offerings across Canada, including its new lineup of craft flower and infused pre-rolls.”
While the new introductions are now available in select markets in Canada ( Alberta and Ontario), the company is planning a national distribution later this year as well.
Overall, the Street has a $2.83 consensus price target on Tilray alongside a Moderate Buy consensus rating. This points to a massive 64.5% potential upside in the stock.
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