Tilray Brands stock surged 32% after hours following its Amped Live Resin vape launch, building on earlier 2.1% gains from analyst upgrades. The post Tilray BrandsTilray Brands stock surged 32% after hours following its Amped Live Resin vape launch, building on earlier 2.1% gains from analyst upgrades. The post Tilray Brands

Tilray Brands Stock Surges 32% After Hours: What Triggered the Rally?

Key Points:

  • Tilray Brands stock jumped over 30% in after-hours trading on Thursday
  • The company announced a new Amped Live Resin Liquid Diamond vape cartridge line under its Redecan brand
  • Earlier in regular trading, shares gained 2.1% to close near $8.43
  • Jefferies raised its price target on Tilray, with analysts setting a consensus target of $20
  • Reports of potential marijuana reclassification to Schedule III boosted optimism across the cannabis sector

Tilray Brands stock experienced a dramatic surge in after-hours trading on Thursday, climbing more than 30% following a major product announcement. The cannabis company’s shares jumped after it unveiled a new vape cartridge line under its Redecan brand.


TLRY Stock Card
Tilray Brands, Inc., TLRY

Earlier in regular trading, Tilray shares had already posted gains of about 2.1%. The stock reached an intraday high of roughly $8.59 before settling near $8.43 at the close.

The after-hours rally came after Tilray announced its new Amped Live Resin Liquid Diamond vape cartridge line. The product launch under the Redecan brand represents the company’s latest entry into the premium cannabis vape market.

Analyst Actions Support Stock Movement

The earlier gains during regular trading hours were tied to positive moves from Wall Street analysts. Jefferies raised its price target on Tilray shares, contributing to investor optimism.

According to MarketBeat data, analysts currently give Tilray an average rating of “Hold.” The consensus price target among analysts stands at $20 per share, well above the current trading level.

The price target suggests analysts see potential upside for the stock. However, the “Hold” rating indicates most analysts recommend maintaining current positions rather than buying or selling aggressively.

Cannabis Sector Optimism Builds

The after-hours trading surge also came against a backdrop of renewed optimism in the cannabis sector. Reports emerged that the U.S. administration may move to reclassify marijuana from Schedule I to Schedule III.

Such a reclassification could have implications for cannabis companies operating in the United States. Schedule III classification would place marijuana in the same category as drugs like ketamine and certain anabolic steroids.

Tilray operates in both the U.S. and Canadian cannabis markets. The company also has business lines in beverage alcohol and wellness products.

The Redecan brand under which the new vape line launches is one of Tilray’s key cannabis brands. Live resin and liquid diamond products are considered premium offerings in the vape market.

Live resin refers to cannabis concentrate made from fresh frozen plant material. Liquid diamonds typically refer to crystalline structures dissolved in terpene-rich sauce, creating a potent concentrate.

The vape cartridge market represents a growing segment of legal cannabis sales. Pre-filled cartridges offer convenience for consumers and often command premium prices compared to traditional flower products.

Tilray shares have been trading on the NASDAQ under the ticker symbol TLRY. The stock has experienced volatility over the past year, reflecting broader trends in cannabis stocks.

Thursday’s regular session close of approximately $8.43 represented a 2.1% gain for the day. The after-hours surge of more than 30% would push the stock well above $10 if those gains hold into the next trading session.

The combination of analyst upgrades, new product launches, and sector-wide optimism created multiple tailwinds for Tilray shares on Thursday. Trading volume in after-hours sessions is typically lower than regular trading, which can lead to larger price swings.

The post Tilray Brands Stock Surges 32% After Hours: What Triggered the Rally? appeared first on Blockonomi.

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