Tilray Brands, Inc. ( TLRY ) shares are trading higher on Tuesday.

Shares of the medical and recreational cannabis producer traded higher Tuesday as President Donald Trump recently said his administration is considering reclassifying cannabis as a “less dangerous” drug and will decide on its legal status in the coming weeks, reports Al Jazeera.

Reclassification may ease federal restrictions, reducing punitive taxes, enabling broader research and banking access, and widening U.S. distribution opportunities for Tilray.

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Meanwhile, Tilray is capitalizing on consumer demand for stronger hemp-derived Delta-9 THC beverages, unveiling 10mg extensions across its HDD9 portfolio under the Fizzy Jane's and Happy Flower labels. 

The company is broadening its THC drink lineup with new 10mg offerings aimed at mainstream retail and e-commerce channels.

The sparkling seltzer that launched this spring in Georgia, North Carolina and South Carolina now comes in a 10mg HDD9 THC format, Tilray said in a press release. Flavors include Vanilla, Blood Orange and Lemon Lime.

The 10mg line joins the existing 5mg range and is rolling out online at FizzyJanes.com (in select markets) and in expanded retail distribution across 10 states, including New Jersey, Ohio and Florida.

The firm said products are available online in select geographies and through an expanding network of retailers in 10 states.

The higher-dosage options aim to capture shoppers seeking greater potency from familiar flavors while maintaining low calories.

By expanding both seltzers and cocktail-style offerings, Tilray is targeting repeat purchase behavior and broader trial in convenience and specialty channels.

On July 28, Tilray reported fiscal fourth-quarter revenue of $224.53 million, missing analyst estimates of $250.41 million, according to Benzinga Pro.

The cannabis company reported fourth-quarter adjusted earnings of two cents per share, beating estimates for a loss of three cents per share.

Tilray guided for fiscal 2026 adjusted EBITDA of $62 million to $72 million, representing growth of 13% to 31% year-over-year.

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