Here's why the Tilray stock price has crashed and what next

Core Viewpoint - Tilray Brands stock price has experienced a significant decline, dropping over 53% from its peak this year, indicating a bearish market trend for the company [3][5]. Stock Performance - The stock price fell from a high of $2.32 in October to the current price of $1.08, marking the lowest level since September 11 [3][4]. - The stock has moved below critical technical levels, including the 61.8% Fibonacci Retracement level at $1.11 and the 50-day and 100-day Exponential Moving Averages [4][5]. Market Conditions - The ongoing decline is attributed to the uncertainty surrounding the reclassification of cannabis by Donald Trump, which could impact the cannabis industry significantly [6][7]. - The delay in decision-making regarding cannabis reclassification has contributed to the overall downturn in cannabis stocks [7]. Financial Performance - Tilray's recent earnings report showed a modest revenue increase of 5% to $209 million, with net income rising to $1.5 million [7]. - Cannabis revenue also rose by 5% to $64.4 million, while the beverage segment, a key investment area, saw a decline in revenue to $55.7 million, raising concerns about its strategic direction [7][8]. Balance Sheet - On a positive note, Tilray's cash balance has improved, reaching $264 million, indicating some financial stability despite the stock price decline [8].