By Connor Hart
Tilray Brands isn't in compliance with Nasdaq's minimum bid price requirement.
The cannabis company said it received written notice of its non-compliance from the stock exchange on Tuesday, after its shares fell below $1.
Shares, which trade in Toronto, closed Tuesday at 98 Canadian cents (68 cents). The stock has lost roughly two-thirds of its value in the past year.
Tilray said the notice won't affect the listing of its stock on the exchange at this time.
The company has 180 calendar days to regain compliance with the minimum bid price requirement. To regain compliance, the closing bid price of Tilray's stock must be at least $1 a share for a minimum of ten consecutive business days before Sept. 21, the company said.
Tilray said it plans to monitor its stock's closing bid price, as well as evaluate available options to regain compliance with the minimum bid price requirement.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
March 25, 2025 16:53 ET (20:53 GMT)
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