Tilray Brands seeks extension to regain Nasdaq compliance

Tilray Brands (NASDAQ:TLRY [https://seekingalpha.com/symbol/TLRY]) has applied for more time to regain compliance with Nasdaq’s share price requirements and is considering options such as a reverse stock split to meet listing standards.

CEO Irwin Simon stated, “Tilray has multiple options to meet Nasdaq’s requirements, and with this extension request, we are giving the market additional time to demonstrate its confidence in our long-term strategy.”

“Tilray’s trading levels have appreciated in recent weeks following President Trump’s review of cannabis rescheduling. We believe this market reaction reflects investors’ confidence in Tilray’s diversified global platform and our ability to capitalize on a more favorable regulatory environment,” Simon added [https://seekingalpha.com/pr/20200686-tilray-brands-reconfirms-strategy-to-regain-nasdaq-compliance-requests-extension-to-meet].

TLRY +1.6% premarket.

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