U.S. stock futures pointed higher Friday morning, with Dow futures up about 50 points. But not every stock got the memo.

Tilray Brands Inc. (TLRY) led the downside movers, plummeting in pre-market action after dropping news of a reverse stock split. The cannabis company announced late Wednesday that it's implementing a one-for-10 reverse split of its common stock. Shareholders approved the move back in June at a special meeting, and now it's actually happening—the split goes into effect December 1st.

Reverse splits are typically a last-ditch effort to boost a sagging stock price and maintain exchange listing requirements. For Tilray, it means if you owned 10 shares, you'll soon own one share worth 10 times as much (in theory, anyway). The market didn't love the announcement. Tilray shares sank 15% to $0.88 in pre-market trading.

Several other stocks also moved lower before the opening bell Friday:

• Inventiva ADR (IVA) dropped 7.4% to $4.26 after gaining 4% Wednesday.
• Anglogold Ashanti PLC (AU) declined 5.5% to $83.97, giving back some of its 5%+ gain from the previous session.
• Lexicon Pharmaceuticals Inc. (LXRX) fell 5% to $1.36 in pre-market activity.
• SuperX AI Technology Ltd (SUPX) slipped 3.9% to $26.00. This comes after the stock surged 23% Wednesday following the company's announcement of a $20 million share repurchase program.
• Palisade Bio Inc. (PALI) declined 3.6% to $2.15 in early trading.
• Gold Fields Ltd (GFI) fell 3.4% to $41.76, also pulling back after a 6% jump Wednesday.
• Abacus Global Management Inc. (ABL) dipped 3.2% to $6.33 after rising 5% the previous session. The company recently reported third-quarter results that beat expectations and announced a $10 million buyback program.