Tilray Brands, Inc. (NASDAQ:TLRY) shares are moving higher in Tuesday’s premarket session. The move follows the launch of a product from Shock Top, a craft beer brand owned by Tilray Beverages.
The company introduced Shock Top’s first-ever high-ABV offering, High Voltage, as part of its broader push to expand and innovate within the beverage segment. The product is a double wheat beer with a 9.6% ABV, featuring bold orange flavors and real orange peel.
This new product is expected to roll out in stores nationwide starting at $2.99, reflecting the brand’s commitment to meeting consumer demand for high-ABV options.
The launch will begin in Southern California before expanding further, showcasing Shock Top’s strategy to capture market share in the craft beer segment. The brand aims to resonate with consumers seeking fun and energetic experiences, aligning with current trends in the beverage industry.
Technical Analysis
Currently, Tilray is trading 10.9% below its 20-day simple moving average (SMA) and 30.4% below its 100-day SMA, suggesting that the stock is struggling to regain upward momentum. Shares have decreased 8.90% over the past 12 months and are currently positioned closer to their 52-week lows than …
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