Tilray Shares Tumble on US Regulatory Uncertainty

Tilray Brands, Inc. saw its stock decline sharply, closing at $1.19 after a 5.6% drop during the previous trading session. The sell-off was fueled by mounting investor apprehension over persistent delays in US cannabis policy reform.

Intensifying the bearish sentiment, trading activity surged to 56.9 million shares, a figure that exceeded the average daily volume by 33%. This spike in volume underscores the intensity of the selling pressure. The stock dipped as low as $1.17 intraday before managing a slight recovery.

The regulatory deadlock in Washington is increasingly viewed as a significant obstacle to growth for Tilray and the broader cannabis sector. While market participants hold out hope for a potential federal rescheduling of cannabis, the cautious approach from US authorities continues to... Read more...