Crude Oil Rises ~1%; Tilray Brands Sees Shares Plunge After Reverse Split

In U.S. markets on Friday, oil prices climbed roughly 1%, with crude trading around $59.26 per barrel — giving energy stocks a boost for the day. Meanwhile, shares of Tilray Brands, Inc. (NASDAQ: TLRY) dropped about 19% to $0.8310. The sharp decline came after the company announced a 1-for-10 reverse stock split, which will take effect December 1. Under the plan, every ten existing shares will be consolidated into one. Despite the downturn in Tilray’s stock, broader U.S. equity markets finished higher. The Dow Jones Industrial Average rose 0.60%, while the NASDAQ Composite and the S&P 500 climbed 0.36% and 0.38%, respectively. In short: stronger oil amid rising energy shares couldn’t prevent volatility for Tilray — whose reverse split appears to have spooked investors. #OilMarkets #Tilray #StockSplit #MarketVolatility #SlimScan #GrowthStocks #CANSLIM