shares of cannabis company tilray brands inc fell in morning trading friday after the company reported a widerthanexpected loss on lower sales for the fiscal first quarter tilray posted a loss of 658 million or 13 cents a share for the three months ended aug 31 compared with a loss of 346 million or 8 cents a share analysts surveyed by factset were expecting a loss of 7 cents a share revenue for the quarter fell 9 to 1532 million analysts were looking for revenue of 1559 million according to factset the stock fell 12 in morning trading to 342 so far this year the shares are 51 lower amid a broad decline in marijuana stocks tied to an oversupply of cannabis in north america the drop in the shares also comes after the stock finished some 30 higher on thursday after president joe biden called on federal regulators to review how marijuana is classified tilray chief executive officer irwin simon on friday threw cold water on mr bidens remarks it is important to recognize these initiatives for what they are relatively modest but any sign of progress is important at this time mr simon said during a conference call with analysts write to will feuer at willfeuerwsjcom