What's Going On With Cannabis-Producer Tilray Brands Stock?

Tilray Brands, Inc. TLRY shares are trading higher Friday, and the stock is up more than 25% over the past month. Here's a look at what's going on:

What To Know:

According to an SEC filing, Tilray closed on two private debt-for-equity exchange transactions in the past week.  Pursuant to these transactions, the company issued an aggregate of 9,601,538 shares of common stock in exchange for $18,500,000.00 aggregate principal amount of the company’s 5.25% convertible senior notes due June 1, 2024.

Tilray shares are climbing on heavy trading volume Friday, more than doubling its average daily volume. According to data from Benzinga Pro, more than 33.3 million shares have been traded in the session, compared to the stock's 100-day average volume of 15.587 million shares.

Tilray is set to release its second-quarter financial results before the market open on Jan. 9 and will host a conference call to discuss the results at 8:30 a.m. ET the same day.

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TLRY Price Action: According to Benzinga Pro, Tilray Brands shares are up by 7.84% at $2.19 at the time of publication.

Image: Jeanette Atherton from Pixabay