Tilray Shares Tumble Following Shareholder Governance Vote

Tilray Brands, Inc. witnessed a sharp 6.6% decline in its share price during Wednesday’s trading session. This sell-off was triggered immediately after the company’s shareholders voted down a key governance proposal put forward by management. The rejection sent the stock tumbling to a price of $0.9620.

The market’s response was swift and decisive. Trading volume surged to 58.1 million shares, a figure that exceeded the daily average by 16%, underscoring the intensity of the selling pressure. The core issue was the failure of a board declassification proposal, which would have transitioned the company to a system where all directors are elected annually. This defeat represents a significant setback for the leadership team Read more...