Cannabis producer Tilray (TSE:TLRY) is releasing a new line of edible gummies in Canada called Charlotte’s Web.
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The new gummies come in 30-pack bottles, with your choice of two flavors: berry and fruit, and turmeric and ginger. Interestingly, the berry gummies are called “Rest” gummies, intended to make a user feel calm. The spicy ones are called “Life” gummies and geared toward an “active lifestyle.” Regardless of which flavor you turn to, you will still get 25mg of Tilray’s best-known ingredient: CBD.
The new gummies are currently available at certain retailers in the Canadian province of Ontario, and the Tilray Medical website will include them later this month. Some other retailers, and provinces, will pick them up starting in November.
A Legal Win
Separately, there was some good news out of the legal system for Tilray as a class action lawsuit proposed in a New York federal court was dismissed, and those who filed it were offered no chance to amend the suit.
Those who brought the class action lawsuit alleged that Tilray, and former CEO Brendan Kennedy, “…knowingly acted to mislead investors about the company’s financials and aspects of a co-marketing deal with Authentic Brands Group LLC.” The judge in the case, Mary Kay Vyskocil, threw out the case over a lack of evidence.
Is TLRY Stock a Good Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on TSE:TLRY stock based on two Buys and five Holds assigned in the past three months, as indicated by the graphic below. After a 21.99% loss in its share price over the past year, the average TSE:TLRY price target of C$2.87 per share implies 26.25% upside potential.
