Tilray Brands (TLRY) Cuts Float and Regains Nasdaq Compliance With Reverse Split

Tilray Brands, Inc. (NASDAQ:TLRY) ranks among the best sin stocks to buy in 2026. On December 4, TD Cowen reaffirmed its Buy rating on Tilray Brands, Inc. (NASDAQ:TLRY) but reduced its price target to $10 from $25 for the cannabis and beverage company . According to TD Cowen analyst Robert Moskow, the adjustment takes into consideration Tilray’s reverse 10-for-1 stock split, which went into effect on December 1.

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By implementing a reverse 10-for-1 stock split of its common shares, Tilray Brands, Inc. (NASDAQ:TLRY) was able to reduce its float to about 116 million, comply with Nasdaq’s minimum bid-price regulations, and save some administrative expenses. With a selective 2025 holiday selection, Tilray Brands, Inc. (NASDAQ:TLRY) is simultaneously pushing aggressively into beverages and hemp-derived THC drinks, indicating its efforts to expand outside core cannabis in the face of changing customer preferences and regulations.

In its updated valuation, TD Cowen assigned a 12x EV/EBITDA multiple to its projected EBITDA of $80 million for the next 12 months.

Additionally, the firm cited “competitive pressures in Canadian cannabis” as a factor in its more cautious assessment of Tilray Brands’ commercial prospects.

Tilray Brands, Inc. (NASDAQ:TLRY) is an American pharmaceutical, cannabis-lifestyle and consumer packaged goods company, incorporated in the United States, headquartered in New York City.

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Disclosure: None. This article is originally published at Insider Monkey.