Tilray Brands, Inc. (TLRY) saw a modest increase today, closing at $1.30, up 1.56% from the previous close of $1.28. The stock opened at $1.28 and reached a high of $1.34 before settling. Trading volume was notably high at 37,293,652 shares, significantly above the average of 25,757,776 shares, indicating heightened investor interest.
The price movement was influenced by discussions on Reddit, where investors expressed mixed sentiments. Some users remained skeptical about the stock's potential, with comments like, "You'll see $3 after a reverse split," reflecting doubts about significant price appreciation without major corporate changes. However, there was also cautious optimism, with some anticipating a rebound in 2025, starting with Q2 earnings.
Additionally, anticipation is building around an upcoming live session with Tilray's CFO, Carl Merton, on Reddit. Investors are eager to hear explanations for the company's unfulfilled profitability promises and high executive compensation. This event is generating interest, as users speculate on the impact of external factors on the stock's performance.
The broader cannabis market dynamics also play a role, with some users expressing disappointment over Tilray's lagging profitability compared to other Canadian cannabis companies.