What's Going On With Tilray Brands Stock?
Portfolio Pulse from Erica Kollmann
Tilray Brands, Inc. (NASDAQ:TLRY) stock has fallen over 18% in the past five days. The drop follows an SEC filing revealing Tilray's acquisition of a promissory note from Double Diamond Holdings Ltd. for $26.1 million, compensated with over 12 million shares. Additionally, Tilray's Q2 financial results showed flat earnings per share, a 95% decrease YoY, and sales that missed analyst estimates. The stock traded heavily with over 21.1 million shares, surpassing the 100-day average volume.
January 11, 2024 | 5:37 pm
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NEGATIVE IMPACT
Tilray's stock is trading lower after reporting Q2 earnings with no growth and missing sales estimates, coupled with a significant share issuance for a promissory note acquisition.
The stock price is likely to go down in the short term due to the negative earnings report showing a 95% decrease in EPS and sales not meeting expectations. The issuance of over 12 million shares for the promissory note acquisition could dilute shareholder value, adding to the downward pressure.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100