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Why Tilray Brands Stock Just Crashed 21.5%

TheMotleyFool

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Miserable news for investors in cannabis stock Tilray Brands (NASDAQ: TLRY) this morning: Earnings are out, and the news is not great.

Analysts forecast Tilray to lose $0.05 per share in its fiscal Q3 2024. For what it's worth, Tilray's reported loss rounded closer to $0 -- so that's the good news (albeit we're only talking about pro forma profits here). Unfortunately, analysts also hoped Tilray would report $198.5 million in sales for the quarter, so Tilray's admission that it sold only $188.3 million worth of product seems to have spooked investors.

As of 10:30 a.m. ET, Tilray shares are down 21.5%.

Source Fool.com

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