Tilray Stock Hit A New 52-Week Low Today: What's Going On?

Tilray Brands Inc TLRY shares are trading lower by 6.2% to 45 cents during Thursday’s session. The company on Thursday announced plans to implement a reverse stock split.

What To Know: The move, subject to shareholder approval at a June 10 special meeting, proposes a split ratio between 1-for-10 and 1-for-20. This corporate action is aimed at boosting the per-share price and maintaining compliance with Nasdaq's minimum listing requirements.

CEO Irwin Simon said the reverse split will better align Tilray's share count with peers and help stabilize trading. While the fundamentals remain intact, reverse splits are often perceived negatively by investors, as they can signal financial struggles or weak stock performance.

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Though the split doesn't affect the company's market cap, it reduces the number of outstanding shares.

What Else: Tilray says the company expects over $1 million in annual cost savings from the measure and continues to emphasize its financial strength, including a recent $76 million debt reduction and $248 million in cash and marketable securities.

Despite Thursday’s volatility, Tilray also announced Thursday that the company is expanding globally, with new cannabis edibles in Australia and a U.S. launch of "Cruisies," its summer-ready cocktail line.

Read Also: Wall Street Rebounds, Eli Lilly Rallies, UnitedHealth Group Plummets: What’s Driving Markets Thursday?

How To Buy TLRY Stock

By now you're likely curious about how to participate in the market for Tilray Brands – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.

In the case of Tilray Brands, which is trading at $0.45 as of publishing time, $100 would buy you 222.22 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

According to data from Benzinga Pro, TLRY has a 52-week high of $2.52 and a 52-week low of $0.43.