
Tilray (TLRY) shares are down more than 7% in morning trading today after the cannabis company confirmed it has requested an extension to regain compliance with the minimum listing requirements of the Nasdaq Exchange. In March, the company initially reported that the Nasdaq had given it 180 days to meet listing requirements, putting its deadline at Sept. 21.
“With this extension request, we are giving the market additional time to demonstrate confidence in our long-term strategy,” said CEO Irwin Simon in a press release this week. If the Nasdaq grants this extension request, Tilray will likely receive an additional 180 days to satisfy the requirements.