Tilray Brands, Inc. TLRY shares are trading lower Thursday. The stock appears to be moving on continued downward momentum and is down more than 20% over the last five days.
What To Know:
The cannabis sector has seen a recent uptick in interest among investors as reports surfaced of an official recommendation to the DEA to reschedule marijuana from a Schedule I to a Schedule III substance.
Investors also have their attention on another attempt at cannabis-related banking reform as the Senate Banking Committee prepares to hold a markup of the Secure and Fair Enforcement Banking Act (SAFE) on Sept. 27
Tilray is set to report it's first-quarter 2024 earnings on Oct. 4 before the market open and will host a conference call to discuss the results at 8:30 a.m. ET the same day. According to estimates from Benzinga Pro, the company is expected to report a loss of 5 cents per share and first-quarter revenue of $174 million.
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TLRY Price Action: According to Benzinga Pro, Tilray Brands shares are down 3.5% at $2.38 at the time of publication.
Image: Eugenio Cuppone from Pixabay
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