Tilray Brands Announces Reverse Stock Split
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Tilray Brands (TLRY) plans a reverse stock split to boost its share price, currently at $0.45, to avoid delisting from Nasdaq. CEO Irwin Simon will seek shareholder approval for a split ratio between 1-to-10 and 1-to-20, with a vote set for June 10. Since its 2018 IPO, Tilray's stock has plummeted 99% from a peak of $150 due to competition and market challenges, despite efforts to diversify into alcohol and relocate its headquarters to New York City.
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