Tilray Brands Inc (TLRY 21.51%) rose 22.09% to close at $2.10 after reporting better-than-expected fiscal first-quarter results. Trading volume reached 297.6 million shares, about four times its three-month average of 71 million. In intraday trading, the company reached a new 52-week high of $2.32.
The S&P 500 (^GSPC -0.28%) slipped 0.28% to 6,735.11, while the Nasdaq Composite (^IXIC -0.08%) also edged lower as investors rotated toward smaller growth and speculative names.
Peers in the cannabis sector advanced alongside Tilray. Canopy Growth Corp (CGC 7.52%) gained 7.84% closing at $1.65, and SNDL Inc (SNDL 7.03%) added 7.03% closing at $2.82, both supported by stronger sentiment for U.S. cannabis policy changes.
Tilray's earnings, released before the open, showed net revenue of $209.5 million, up 5% year-over-year, and net income of $1.5 million, reversing a prior loss. Margins narrowed slightly, but the company improved cash flow and reaffirmed its full-year profitability outlook, helping bolster confidence in its ongoing diversification strategy beyond cannabis.
Market data sourced from Google Finance and Yahoo! Finance on Thursday, Oct. 9, 2025.
