The launch of a new product on the massive e-commerce platform Amazon can often come as a boost for any consumer-facing company and hence, it was perhaps not a surprise that the cannabis firm Tilray Brands Inc (NASDAQ:TLRY) saw its stock jump by 5.50% on Thursday.
Trading Data
On Thursday, TLRY stock moved up 5.43% to $4.66 with more than 17.10 million shares, compared to its average volume of 35.35 million shares. The stock moved within a range of $4.3600 – 4.7500 after opening trading at $4.39.
Tilray Launches CBD Lifestyle Brand, Pollen, on Amazon UK
The worldwide cannabis lifestyle brands company announced yesterday that its CBD Lifestyle brand POLLEN had been launched o Amazon UK. The company has claimed that the lifestyle brand offers a new approach with regard to wellness. It has been designed in such a way so that the wellness experience does not get complicated for consumers and the entire CBD experience is considerably enhanced.
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In this regard, it ought to be noted that POLLEN offers a wide range of wellness products starting from CBD-based gummies and drink drops among others. On the other hand, the listing on Amazon is a major development since it is going to expose the product to a vast number of customers straightaway and could potentially lead to considerable online sales straightaway. Considering the magnitude of the gains seen in the stock on Thursday it could be a good move to keep an eye on the Tilray Brands stock today.
Technical Data
TLRY stock is trading below the 20-Day and 50-Day Moving averages of $4.80 and $5.69 respectively. Moreover, the stock is trading below the 200-Day moving average of $8.42.
