It’s not for another two days yet, but with today being Friday, it’s a safe bet that some early celebrations will take place ahead of Sunday’s Cinco de Mayo event. And for weed and beverage company Tilray (TSE:TLRY) (NASDAQ:TLRY), the party is starting a little early as it revealed a line of new “Mexican-style lagers” ahead of the big day. Investors were pretty happy about this as well, as shares jumped almost 3% in Friday afternoon’s trading.
The new lineup comes from Tilray subsidiary 10 Barrel Brewing and will start rolling out in the Western United States, specifically Idaho, Oregon, and Washington. The new version is known as Pub Cerveza, which will be available in 12 packs along with several new variations, including Pub Ice and Pub Beer. The Pub line, especially Pub Cerveza, is designed to be “…a refreshing, easy-drinking accomplice for all-day good times.”
Such good times, the marketing material continues breezily, include “ripping down the adult slip-n-slide or hucking water balloons off a houseboat this summer.” 10 Barrel’s marketing concluded with a perhaps dangerous statement, declaring Pub Cerveza to be the “cheap fun summer staple for all the Mexican-style lager fans out there.”
More than Just Beer
Meanwhile, Tilray ramped up its own production, this time in a new cannabis-based beverage. It rolled out the new XMG Zero line, a “better for you” drink that features, of course, cannabis. It also features zero sugar in several models, as well as 10 mg of THC. New options include cream soda, orange soda, and black cherry flavors.
While there were some signs of life coming out of most cannabis stocks yesterday after word emerged about the potential reclassification of marijuana, a lot of that high ultimately wore off. But the idea that the feds might be getting out of the states’ way on this one is still there and offering at least a measure of hope.
Is TLRY Stock a Good Buy?
Turning to Wall Street, analysts have a Hold consensus rating on TLRY stock based on one Buy and seven Holds assigned in the past three months, as indicated by the graphic below. After a 16% loss in its share price over the past year, the average TLRY price target of C$3.09 per share implies 7.34% upside potential.
