TLRY - Why Tilray Brands Stock Crashed 10% on Tuesday
2024-01-09 16:09:00 ET
Shares of Tilray Brands (NASDAQ: TLRY) tumbled 10% Tuesday afternoon, despite the Canadian cannabis company reporting something of an "earnings beat" earlier in the morning.
Heading into the company's fiscal Q2 2024, analysts had forecast Tilray would lose $0.06 per share (adjusted for one-time items) on sales of $195.1 million. As it turned out, Tilray came really close to break-even profits ($0 loss per share). Its sales, however, came up just a wee bit short of expectations for $194 million.
But isn't that good news? Tilray came very close to meeting sales expectations and beat earnings expectations by a solid margin. Didn't it come within a whisker's breadth of earning positive profits for the quarter?
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Why Tilray Brands Stock Crashed 10% on Tuesday