Reddit discussions surrounding Tilray Brands, Inc. (TLRY) have been buzzing with excitement over Canada's announcement to reform its cannabis excise tax system in 2025. The proposed changes aim to simplify the current system by transitioning from province-specific duty stamps to a single national stamp, potentially reducing administrative burdens and costs for producers. This development is seen as a positive step for the industry, with one Reddit user noting, "This is truly positive news for the entire Industry!" However, some users remain cautious, pointing out that while the harmonized stamp is beneficial, it doesn't address the high federal excise tax rate, which remains a significant concern for producers.
The potential impact of these reforms on Tilray has sparked optimism among investors. One user highlighted the possible financial benefits, stating, "Phase 1, the admin reduction was estimated savings over $40M annually but the improvements to excise could be more than that annually just to TLRY." Despite the enthusiasm, some users are holding off on celebrating until more details are revealed in the 2025 budget, expected in February. The sentiment is mixed, with another user expressing skepticism, "This POS is red after every good news," reflecting a cautious approach to the stock's future performance.
As of the latest update, Tilray Brands, Inc. (TLRY) is trading at $1.24, with no change from the previous close.