Tilray Brands Inc

Tilray Brands, Inc. is a global cannabis-lifestyle and consumer packaged goods company. The business of cannabis, distribution, alcoholic beverages and wellness are the company's four operating segments.

As per the previous recommendation on TRLY as of September 12, 2022, a ‘Speculative Buy’ rating was recommended on the stock at USD 3.41 in Daily Report based on “the company's fundamentals, healthy cash and short-term liquidity position, low leverage status, recent products launch, associated risks, and target price of USD 3.93 as per the EV/Sales multiple based valuation” and the stock has moved around 19.65% since then. Noted below are the details of support and resistance provided in the previous report and as can be seen, the price has now moved close to the Resistance 2 level.

TLRY’s Daily Chart

Considering the resistance, target level attainment, current trading levels, and volatile market condition on the back of rising interest rates as well as the recently announced positive USA’s President Joe Biden announcement already priced in with the momentum on October 06, 2022, a “Sell” rating is assigned on the “TLRY” stock at the current market price of USD 4.08, as of October 07, 2022, at 06:31 AM PDT.

Markets are trading in a highly volatile zone currently due to certain macroeconomic and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is not a reliable indicator of future performance. 

Note 2: The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: The report publishing date is as per the Pacific Time Zone.

Disclaimer

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