Tilray Brands Inc (NASDAQ:TLRY) stock is trending across social media Thursday, despite a lack of fresh company-specific news for the session. The cannabis and consumer brands company made several strategic moves in June that could be fueling the current interest.
What To Know: Last month, shareholders approved a potential reverse stock split, a measure aimed at ensuring Nasdaq compliance and attracting institutional investors. However, Tilray has currently paused its implementation to weigh its options.
The company also executed a debt-for-equity exchange, issuing nearly 12.6 million shares to settle a $5 million principal amount of its convertible senior notes.
Internationally, Tilray made a significant breakthrough in Europe. Its medical division became the first to receive authorization to import and distribute its branded medical cannabis flower in Italy, launching three new products.
The company also released a study comparing the absorption of its oral THC:CBD extract to an oromucosal spray, showing its oral product yielded significantly higher peak concentrations.
While Tilray's stock has declined 72% over the past year, these recent strategic financial maneuvers and European expansion efforts appear to have placed it back on traders’ radars, driving Thursday’s interest across social media.
Benzinga Edge Rankings: Based on Benzinga Edge data, Tilray’s stock profile presents a distinct set of characteristics. The company exhibits extremely poor momentum with a score of just 3.27 and indicates weak growth prospects with a score of 21.82.
Tilray’s most compelling feature is a high Value score of 84.07. This strong value rating suggests that despite lagging indicators in performance and growth, the stock may be considered undervalued at its current market price.
Price Action: According to data from Benzinga Pro, TLRY shares are trading higher by 2.84% to 49 cents Thursday morning. The stock has a 52-week high of $2.15 and a 52-week low of $0.35.
Read Also: Tilray Brands Analyst Ratings and Price Targets
How To Buy TLRY Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Tilray Brands’ case, it is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
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