What happened Thanks to its announcement of a new cannabis product that Tilray Brands (NASDAQ: TLRY) plans to sell in Quebec via its Good Supply brand, the company's stock rose by just over 9% on Wednesday before settling to an increase around 6.3% as of 1:07 p.m. ET. The new entry is a hash-infused pre-rolled joint, and it targets the high-potency segment of the recreational cannabis market. So what Tilray's gross margin has been under pressure recently due to slashing its prices in an attempt to remain competitive with smaller private players in the Canadian market. Launching a new high-value-added joint aimed at marijuana enthusiasts rather than casual consumers means it could capture demand that would likely be quite profitable to serve. And that would be especially true if its Good Supply brand can get it distributed throughout Canada if it's successful in Quebec. Now what The company will report its fiscal fourth-quarter and fiscal-year 2022 earnings toward the end of July or in early August, but a full three months of sales of the new joint won't show up in its revenue until a couple of quarters from then. Still, investors should pay attention to how management addresses the interrelated issues of pricing and product margins. Likewise, be on the lookout for announcements of any other new value-added products like vapes or distillates that are cheap to produce relative to their average selling price. If management can shift Tilray's sales mix to favor more-expensive goods, it'll be a big help to its share price in the long term. 10 stocks we like better than Tilray, Inc.When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Tilray, Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of June 2, 2022 Alex Carchidi has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source