Why Tilray Stock Dived by 10% This Week
Over the past five days, the struggling marijuana industry was perfectly exemplified by Tilray Brands (NASDAQ: TLRY). A major financial engineering effort by the company kicked in on Monday, and it dragged the stock down over the subsequent trading sessions. This was reinforced by a price target cut from an analyst.
According to data compiled by S&P Global Market Intelligence, Tilray's stock tumbled by almost 10% over the course of the week.
More than seven months after announcing a reverse stock split, Tilray finally pulled the lever on it Monday, at a ratio of 1-for-10.
Source Fool.com
