Tilray Stock Is Trending Today: What's Going On?
Portfolio Pulse from Adam Eckert
Tilray Brands Inc (NASDAQ:TLRY) shares are trading lower after the company announced the closure of its all-cash transaction with Anheuser-Busch Inbev SA (NYSE:BUD), acquiring eight beer and beverage brands and associated breweries and brewpubs. Tilray also settled a commercial agreement dispute with HEXO Corp, which it acquired earlier this year, with MediPharm Labs set to receive $9 million in total considerations including $3 million in cash and $4.5 million in Tilray stock. Tilray is expected to report a loss of 4 cents per share on quarterly revenue of $174 million on Oct. 4.
October 02, 2023 | 2:22 pm
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NEUTRAL IMPACT
Anheuser-Busch has sold eight of its beer and beverage brands to Tilray.
The sale of eight brands to Tilray is a significant move for Anheuser-Busch, but it's unclear how this will impact the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Tilray's stock is trading lower after the company closed its transaction with Anheuser-Busch and settled a dispute with HEXO Corp.
The drop in Tilray's stock price is likely due to the market's reaction to the company's recent acquisitions and dispute settlement, which may have increased its financial liabilities.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100