Tilray Brands shares are trading lower after the company reported worse-than-expected Q2 revenue results. The company reaffirmed its FY24 adjusted EBITDA guidance.
Portfolio Pulse from Benzinga Newsdesk
Tilray Brands' stock is trading lower due to the company reporting Q2 revenue results that fell short of expectations. However, the company has maintained its adjusted EBITDA guidance for FY24.
January 09, 2024 | 5:27 pm
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Tilray Brands reported lower than expected Q2 revenue, leading to a decline in stock price, but reaffirmed its FY24 adjusted EBITDA guidance.
The negative impact on Tilray Brands' stock price is due to the reported Q2 revenue miss, which typically leads to bearish sentiment among investors in the short term. The reaffirmation of FY24 EBITDA guidance provides some stability, but the immediate reaction to revenue performance is likely to have a stronger influence on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100