Overview
- Tilray shares fell about 20% Friday to roughly $0.83, leaving the stock down nearly 40% for 2025.
- The 1-for-10 consolidation becomes effective Dec. 1, with split-adjusted trading starting Dec. 2 under new CUSIP 88688T209.
- Every 10 shares convert to one, cutting outstanding shares from about 1.16 billion to roughly 116 million while preserving investors’ proportional ownership.
- No fractional shares will be issued, and holders entitled to fractions will receive cash instead.
- Shareholders approved the move in June, and management cites institutional appeal and up to $1 million in annual cost savings, though reverse splits are often viewed as bearish.