Tilray Brands, Inc. (TLRY) experienced a decline today, closing at $1.16, down 6.45% from the previous close of $1.24. The stock opened at $1.21, reached a high of $1.25, and hit a low of $1.16, with a trading volume of 26,975,159 shares, slightly below its average. The downward movement was influenced by a recent downgrade in earnings expectations by Atb Cap Markets, which revised its FY2028 EPS estimates from $0.06 to $0.01, reflecting a cautious outlook on Tilray's future profitability. Additionally, Roth Mkm's previous reduction of their price target from $2.00 to $1.75, maintaining a "neutral" rating, added to the negative sentiment.
On social media, discussions were mixed, with some Reddit users expressing skepticism about significant regulatory changes in the cannabis sector, stating, "Won't happen, all hype and Chinese whispers I'd say." Others remained hopeful about long-term prospects, viewing current market conditions as a potential buying opportunity. Despite positive news from Canada regarding cannabis excise tax reforms, which some users described as "truly positive news for the entire Industry," the high federal excise tax rate remains a concern.
Tilray's recent product launch, featuring Redecan's limited-edition cannabis pre-rolls, did not significantly impact the stock's performance.