There’s no doubt that Tilray (TSX:TLRY) got its start as a cannabis stock. While weed is still very much a part of Tilray’s offerings, it’s also been rapidly making inroads into the beverage stock field as well. In fact, it underscored that point well by acquiring Truss Beverage in a recent deal with Molson Coors (NYSE:TAP). The move didn’t do much to endear investors to Tilray, however, as shares dropped nearly 2% in Wednesday afternoon’s trading.
The deal has been in the works since last August, reports note, when Tilray first announced its plans to take over the Truss brand. With Truss now in Tilray’s control, Tilray gets access to a range of brands from Little Victory to House of Terpenes and several others besides. Plus, given that Truss already had a slate of cannabis-related beverages in play, those now become Tilray’s, which gives Tilray roughly 40% of the entire cannabis beverage market, at last…
