에 대한 최신 뉴스 Tilray Brands (NASDAQ:TLRY) 주식

Tilray Brands

Tilray is a Canadian producer that cultivates and sells medical and recreational cannabis. In 2021, legacy Aphria acquired legacy Tilray in a reverse merger and renamed itself Tilray. The bulk of its sales are in Canada and in the international medical cannabis export market. US exposure consists of CBD products and alcohol.

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TLRY

틸레이 브랜즈(NASDAQ:TLRY)는 월요일 시장 마감 후 2024 회계연도 4분기 재무 결과를 발표했다. 이번 분기의 주요 지표를 살펴보세요.

틸레이: 4분기 매출 및 EPS 예상 상회에 주가 급등, 대마초, 음료 및 웰빙의 융합을 선도

Tilray Brands Inc

TILRAY BRANDS ORD

Charlotte&#8217;s Web Holdings, Inc. (TSX:<a class="ticker" href="https://www.benzinga.com/stock/CWEB#TSX">CWEB</a>) (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/CWBHF#OTCQX">CWBHF</a>) a producer of hemp-derived CBD and other botanical wellness products, reported its financial results on Thursday for the third quarter ended Sept. 30, 2024.  
&#8220;Our return to quarter-over-quarter growth in 2024 signals that our strategic direction is paying off,&#8221; said Bill Morachnick, CEO of Charlotte&#8217;s Web. &#8220;We&#8217;ve seen positive impacts from our e-commerce platform upgrades, recent product launches, and additional retailers, highlighted by our new partnership with Walmart that brings our CBD topicals to another 827 stores.&#8221;
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/08/40525826/exclusive-new-wana-brands-marketplace-brings-together-martha-stewart-cbd-charlottes-web-cann-pro">EXCLUSIVE: New Wana Brands Marketplace Brings Together Martha Stewart CBD, Charlotte&#8217;s Web, Cann Products</a>
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<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.</li>
</ul>
<h3 class="wp-block-heading">Q3 Financial Highlights</h3>
<ul>
<li>Consolidated net revenue totaled $12.6 million, down from $14.3 million in the third quarter, reflecting challenges in the CBD industry such as ambiguity around regulatory advancements and consumer spending trends.</li>
<li>Gross profit was $6.7 million &#8211; accounting for 53% of revenue &#8211; compared to $7.9 million in the prior year's quarter, due to lower revenue and price reductions on tinctures.</li>
<li>Net loss was $5.8 million, representing an improvement from the net loss of $15.2 million in the prior year's quarter.</li>
<li>Adjusted EBITDA came in negative at $3.9 million, improved from a $6 million adjusted EBITDA loss in the third quarter of 2023.</li>
<li>Selling, general and administrative expenses were $12.7 million, representing a 36.2% decrease from $19.9 million in the third quarter of 2023, due to cost-cutting measures and streamlining operations.</li>
<li>Net cash used in operations was $7.6 million, with $0.3 million in capital expenditures for manufacturing upgrades.</li>
<li>On Sept. 30, 2024, the company&#8217;s cash and working capital were $24.6 million and $33.5 million, respectively, compared to $47.8 million and $54.5 million, respectively, at Dec. 31, 2023.&nbsp;</li>
</ul>
<h3 class="wp-block-heading">Product Innovations And Expansions</h3>
The company recently launched:
<ul>
<li>Soft Gel Capsules which are full-spectrum CBD capsules with positive consumer feedback.</li>
<li>Functional Mushroom Gummies &#8211; a new line of gummies with three formulations following wellness trends.</li>
</ul>
In terms of the Walmart Partnership, the company expanded its CBD topicals to 827 Walmart (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) stores.
Charlotte's Web launched CBD gummies in Canada, through a <a href="https://www.benzinga.com/markets/cannabis/24/10/41213325/two-cannabis-power-houses-team-up-tilray-brings-cbd-gummies-from-us-medical-marijuana-pioneer-to">partnership</a> with Tilray Brands, Inc. &nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>), leveraging local production and distribution.
<h3 class="wp-block-heading">Outlook</h3>
Despite a challenging regulatory environment, the company is positioning itself for long-term growth with new product categories and international expansions.
<h3 class="wp-block-heading">CWBHF Price Action</h3>
Charlotte&#8217;s Web's shares traded 0.72% higher at 14 cents per share after the market close on Wednesday afternoon.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/08/40418137/industrial-hemps-14b-projected-growth-an-investment-opportunity-too-good-to-miss">Industrial Hemp&#8217;s $14B Projected Growth: An Investment Opportunity Too Good To Miss</a></li>
</ul>

CWBHF

CWEB

TSX:CWEB

CBD Pioneer Charlotte's Web Narrows Loss In Q3, Focuses On Long-Term Growth

This launch marks the first medical cannabis products to be grown in Germany by Aphria RX under the newly issued medical cannabis cultivation license under MedCanG.

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Tilray Medical, A Division Of Tilray Brands Announced The Launch Of Its First Commercial German Grown Medical Cannabis Flowers From Its Aphria RX Facility

<a href="https://www.marijuanamoment.net/newly-elected-republican-senate-majority-leader-opposes-marijuana-legalization-rescheduling-and-industry-banking-access/">https://www.marijuanamoment.net/newly-elected-republican-senate-majority-leader-opposes-marijuana-legalization-rescheduling-and-industry-banking-access/</a>
Senate Republicans on Wednesday <a href="https://www.marijuanamoment.net/every-gop-senate-majority-leader-candidate-opposes-marijuana-legalization/">elected a new majority leader who not only opposes legalizing marijuana</a> but has also called for a reversal of the Biden administration's plan to reschedule cannabis and has criticized Democrats for working to increase the industry's access to banking services.
Thune, who defeated Sens. John Cornyn (R-TX) and Rick Scott (R-FL) in an election for the leadership slot, joined other GOP lawmakers in a letter in July <a href="https://www.marijuanamoment.net/gop-lawmakers-push-justice-department-to-reverse-course-on-marijuana-rescheduling/">challenging the current administration's marijuana rescheduling push</a>, urging that the policy proposal be trashed.
The rescheduling rule "fails to provide adequate science and data to support moving marijuana to schedule III and should not have been signed or published," the letter Thune signed says, calling it "irresponsible" for federal health officials to "make this determination when emerging research shows that there are significant health concerns associated with marijuana use."
The letter details Thune's and other Republican lawmakers' concerns about marijuana's health effects, suggesting that there is a "clear association between cannabis use and psychosis, anxiety, cognitive failures, respiratory adverse events, cancer, cardiovascular outcomes and gastrointestinal disorders."
It also claims that "sexual disfunction was twice as high in men who used marijuana" and that "marijuana use among veterans with PTSD was associated with worse PTSD symptoms, more violent behavior, and alcohol use."
Beyond criticizing cannabis use and policy reform, the letter Thune signed further calls into question whether marijuana has any medical value.
"Medical marijuana dispensaries sell edibles and vapes that come in flavors like passion raspberry, blueberry calm, wild cherry, and sour apple," it says. "Pretending that these products are medicine that can treat health conditions is doing a disservice to Americans."
"It remains the case that marijuana has no currently accepted medical use," Thune and his Republican colleague wrote. "The fact that states have labeled marijuana as ‘medicine' does not change the nature of the drug… We urge you to withdraw this proposal and maintain marijuana as a schedule I drug."
Separately, as Senate Democrats moved to advance a marijuana legalization bill in 2021, Thune <a href="https://twitter.com/JulieNBCNews/status/1384583108410978312">said</a> that cannabis reform is "something we'll probably have to grapple with here." But he's consistently opposed even modest proposals to allow marijuana industry banking.
Earlier this year, Thune said attaching cannabis banking legislation to an aviation bill would be "a non-starter," <a href="https://www.bloomberg.com/news/newsletters/2024-05-01/pot-industry-banking-bill-still-in-limbo-but-not-dead-yet">noting</a> that Republican&nbsp; opposition to the idea is "very strong."
He <a href="https://www.congress.gov/congressional-record/volume-166/issue-96/senate-section">called</a> the then-Democratic-controlled House's proposal to include marijuana banking reform in a large-scale coronavirus relief bill "crazy stuff" in 2020, complaining in a floor speech that the text of the underlying legislation mentions "cannabis" more times than "jobs."
"In case Democrats didn't realize, Americans aren't suffering from a lack of cannabis right now," Thune <a href="https://www.thune.senate.gov/public/index.cfm/2020/5/thune-senate-focused-on-american-people-while-house-is-distracted-by-liberal-agenda">said</a> in a speech on the Senate floor. "They're suffering from a lack of employment."
He also said that Democrats' push to advance a marijuana legalization bill was a "great illustration of the gap in priorities."
"While Republicans are continuing to negotiate on COVID relief, Democrats are holding votes on a Tiger King bill &amp; legalizing cannabis," he said. "Let's get serious &amp; do our job for Americans."
Back in 2014, Thune said that while he understands that "people have strong opinions on both sides of this debate, I do not support legalizing the use of marijuana."
"Currently, the medical benefits from the use of marijuana are still inconclusive, and I believe that we must be careful not to increase the availability of marijuana and the use of marijuana for non-medical reasons," the senator <a href="https://www.facebook.com/permalink.php?story_fbid=1423720604579857&amp;id=1374412469510671">said</a> in a constituent letter. "However, I support the development of alternative medications that will provide relief to patients without opening the door to substance abuse."
The next year, he called legalization a "dangerous path," <a href="https://vote.norml.org/politicians/398">adding</a> that voters who enacted the reform in Colorado are "going to pay a price for it."
In 2021, Thune acknowledged that cannabis is an "area that's still evolving, and our country's views on it are evolving," <a href="https://www.politico.com/news/2021/06/27/republicans-weed-496390">adding</a> that "how we deal with it nationally I think is still an open question."
"Medical's getting big — the recreational not as big yet, but it's growing — and there'll be more initiatives on the ballot," he said.
For what it's worth, voters in Thune's home state of South Dakota approved a marijuana legalization initiative at the ballot in 2020, but it was overturned by the state Supreme Court. Voters subsequently <a href="https://www.marijuanamoment.net/south-dakota-voters-reject-marijuana-legalization-ballot-initiative-after-third-attempt-from-advocates/">rejected legalization proposals in 2022 and 2024</a>.

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'Newly Elected Republican Senate Majority Leader Opposes Marijuana Legalization, Rescheduling And Industry Banking Access' - Marijuana Moment

Cannabis stocks are trading higher today after former New Jersey Governor <a href="https://www.benzinga.com/topic/chris-christie">Chris Christie</a>, suggested that President-elect <a href="https://www.benzinga.com/topic/donald-trump">Donald Trump</a> will attempt to deschedule cannabis.
"What I suspect he would really like to do is get it downgraded by the DEA so that it&#8217;s not illegal," Christie said in an <a href="https://www.benzinga.com/markets/cannabis/24/11/41910180/exclusive-chris-christie-says-trump-will-remove-federal-restrictions-on-marijuana-find-sweet-spot-for-crypto-regulation">exclusive interview </a>with Benzinga Cannabis&#8217; head of content <a href="https://www.benzinga.com/author/javier-hasse">Javier Hasse</a>. 
"The trouble the cannabis industry has now is that a lot of people still won't do business with them, because the proceeds are tainted by the fact they are created through a drug that is illegal in the United States," said Christie, referring to the fact that cannabis is still a Schedule I drug under federal law. 
<h3 class="wp-block-heading">Cannabis Stocks Hitting The Roof</h3>
Christie's remarks sparked optimism in a much-appreciated rally that briefly halted trading of AdvisorShares Pure US Cannabis ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSOS#NYSE">MSOS</a>) around midday. 
<h3 class="wp-block-heading">Top Winners:</h3>
<ol>
<li>AdvisorShares Pure US Cannabis ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSOS#NYSE">MSOS</a>):&nbsp;+15.06%</li>
<li>Cronos Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRON#NASDAQ">CRON</a>):&nbsp;+12.96%</li>
<li>AdvisorShares Pure Cannabis ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YOLO#NYSE">YOLO</a>):&nbsp;+7.22%</li>
<li>Amplify Alternative Harvest ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MJ#NYSE">MJ</a>):&nbsp;+5.44%</li>
<li>Tilray Brands (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>):&nbsp;+4.14%</li>
<li>Village Farms International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFF#NASDAQ">VFF</a>):&nbsp;+5.38%</li>
<li>Ispire Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISPR#NASDAQ">ISPR</a>):&nbsp;+1.44%</li>
<li>Organigram Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OGI#NASDAQ">OGI</a>):&nbsp;+1.62%</li>
</ol>
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="419" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12130547/Captura-de-pantalla-2024-11-12-a-las-15.05.38-1024x419.png" alt="" class="wp-image-643565" style="width:751px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12130547/Captura-de-pantalla-2024-11-12-a-las-15.05.38-1024x419.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12130547/Captura-de-pantalla-2024-11-12-a-las-15.05.38-300x123.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12130547/Captura-de-pantalla-2024-11-12-a-las-15.05.38-768x314.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12130547/Captura-de-pantalla-2024-11-12-a-las-15.05.38-1536x629.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/12130547/Captura-de-pantalla-2024-11-12-a-las-15.05.38.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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<h3 class="wp-block-heading">Market Reaction To Christie's Comments</h3>
"What I think Trump will attempt to do is change marijuana to a non-scheduled drug that wouldn't be illegal," Christie said. This prediction buoyed investor sentiment, as cannabis descheduling would not only resolve banking issues plaguing the industry, it would ultimately legalize marijuana.
<h3 class="wp-block-heading">Crypto: Finding A &#8216;Sweet Spot&#8217;</h3>
In addition to cannabis, Christie also told Benzinga that with Trump in the White House, he predicts a favorable environment for crypto's continued expansion. "I think it will develop because he&#8217;ll not be in favor of doing a lot of regulating on it," Christie said, suggesting that Trump's known stance on deregulation would likely extend to the crypto sector.
Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/11/41910180/exclusive-chris-christie-says-trump-will-remove-federal-restrictions-on-marijuana-find-sweet-spot-for-crypto-regulation">EXCLUSIVE: Chris Christie Says Trump Will Remove Federal Restrictions On Marijuana, Find &#8216;Sweet Spot&#8217; For Crypto Regulation</a>
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Cannabis Stocks Pop Following Chris Christie's Prediction That Trump Will Deschedule Cannabis

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Shares of cannabis-linked stocks are trading higher after Chris Christie in a Benzinga exclusive suggested he thinks Trump may attempt to change illegal status of marijuana via the DEA.

The cannabis sector is showing signs of stabilization following a harsh post-election sell-off triggered by <a href="https://www.benzinga.com/markets/cannabis/24/11/41782344/tilray-trulieve-and-other-cannabis-stocks-nosediving-as-industry-faces-new-wave-of-political-unc">election results.</a> 
With <a href="https://www.benzinga.com/markets/cannabis/24/11/41787490/donald-trumps-evolving-stance-on-marijuana-is-cannabis-legalization-finally-on-his-agenda">Donald Trump's return</a> to the presidency, a GOP-controlled Senate, and Florida's <a href="https://www.benzinga.com/markets/cannabis/24/11/41763514/florida-rejects-cannabis-legalization-amendment-supported-by-trump-detested-by-desantis">rejection of Amendment 3</a>, which would have legalized cannabis, investor sentiment turned cautious, leading to widespread panic selling. 
Yet, as of Thursday, some stocks are making a modest comeback, suggesting that Wednesday&#8217;s declines may have been oversold.
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="605" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07133826/Captura20de20pantalla202024-11-0720a20la28s292015.27.03-1024x605.png" alt="" class="wp-image-636069" style="width:510px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07133826/Captura20de20pantalla202024-11-0720a20la28s292015.27.03-1024x605.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07133826/Captura20de20pantalla202024-11-0720a20la28s292015.27.03-300x177.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07133826/Captura20de20pantalla202024-11-0720a20la28s292015.27.03-768x454.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07133826/Captura20de20pantalla202024-11-0720a20la28s292015.27.03-1536x908.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07133826/Captura20de20pantalla202024-11-0720a20la28s292015.27.03.png 1732w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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<h3 class="wp-block-heading">Tilray Brands (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>): A Tentative Recovery</h3>
Tilray experienced a sharp drop yesterday, trading down to $1.51 amid panic selling, but has recovered slightly to $1.56, marking a 1.3% gain. 
The RSI stands near 41.85, indicating that the stock is approaching oversold. 
This could attract buyers, but the stock&#8217;s movement remains tentative, with resistance around $1.60, and a figure turning into a hammer, which could indicate final dip levels.
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="685" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07133920/Captura20de20pantalla202024-11-0720a20la28s292015.29.11-1024x685.png" alt="" class="wp-image-636071" style="width:567px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07133920/Captura20de20pantalla202024-11-0720a20la28s292015.29.11-1024x685.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07133920/Captura20de20pantalla202024-11-0720a20la28s292015.29.11-300x201.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07133920/Captura20de20pantalla202024-11-0720a20la28s292015.29.11-768x514.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07133920/Captura20de20pantalla202024-11-0720a20la28s292015.29.11-1536x1027.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07133920/Captura20de20pantalla202024-11-0720a20la28s292015.29.11.png 1615w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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<h3 class="wp-block-heading">SNDL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNDL#NASDAQ">SNDL</a>): Holding Support</h3>
SNDL is showing resilience at the $2.00 support level, recovering slightly to $2.02 with a neutral RSI at 45.90. The stock has managed to absorb some of the selling pressure, though it remains below its recent high near $2.60. This indicates that traders may be taking a wait-and-see approach for clearer signs of sustained support before fully stepping back in.
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="652" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07133854/SNLD-1024x652.png" alt="" class="wp-image-636070" style="width:565px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07133854/SNLD-1024x652.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07133854/SNLD-300x191.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07133854/SNLD-768x489.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07133854/SNLD-1536x979.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07133854/SNLD.png 1695w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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<h3 class="wp-block-heading">Trulieve (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>): Strong Bounce</h3>
Trulieve, which suffered a drastic drop yesterday following Florida&#8217;s failed cannabis legalization effort, is now up 6.53%, trading at $7.67. The RSI of 28.54 highlighted an oversold condition, drawing in buyers looking for value. This recovery suggests the initial selling may have been excessive.
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="711" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07133941/TRULIEVE-1024x711.png" alt="" class="wp-image-636072" style="width:574px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07133941/TRULIEVE-1024x711.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07133941/TRULIEVE-300x208.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07133941/TRULIEVE-768x533.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07133941/TRULIEVE-1536x1066.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07133941/TRULIEVE.png 1556w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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<h3 class="wp-block-heading">AdvisorShares Pure US Cannabis ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSOS#NYSE">MSOS</a>): ETF Stability May </h3>
MSOS, a popular cannabis ETF, has risen by 4.83% to $5.21, rebounding from an RSI of 31.15, which flagged oversold conditions. With many cannabis stocks attempting recoveries, MSOS is holding above the $5.00 level, a critical support.
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="710" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07134013/Captura20de20pantalla202024-11-0720a20la28s292015.32.20-1024x710.png" alt="" class="wp-image-636074" style="width:574px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07134013/Captura20de20pantalla202024-11-0720a20la28s292015.32.20-1024x710.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07134013/Captura20de20pantalla202024-11-0720a20la28s292015.32.20-300x208.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07134013/Captura20de20pantalla202024-11-0720a20la28s292015.32.20-768x533.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07134013/Captura20de20pantalla202024-11-0720a20la28s292015.32.20-1536x1065.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07134013/Captura20de20pantalla202024-11-0720a20la28s292015.32.20.png 1557w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Chart <a href="https://pro.benzinga.com/dashboard">created using Benzinga Pro</a>
Read Also:<a href="https://www.benzinga.com/markets/cannabis/24/10/41237666/exclusive-tax-changes-could-unlock-hundreds-of-millions-in-cash-flow-for-cannabis-sector-experts"> EXCLUSIVE: Tax Changes Could Unlock &#8216;Hundreds Of Millions In Cash Flow&#8217; For Cannabis Sector, Experts Predict</a>
<h3 class="wp-block-heading">Is Buying The Dip A Good Idea?</h3>
While the sector is showing early signs of stabilization, the underlying risks remain. Still, most stocks look heavily oversold or reaching that point.
Fundaments are relevant to understand what the outcome might look like in the mid-turn. 
With a GOP-majority Senate likely to stall cannabis reform, there's a possibility of four more years of cannabis protectionism &#8211; a period marked by minimal legislative progress and regulatory insularity.
Nevertheless, an argument could be made that the fundamentals of cannabis have not changed and, particularly, that the impact of rescheduling on balance sheets, due to the suppression of <a href="https://www.benzinga.com/topic/280e">280E burden</a>, would be <a href="https://www.benzinga.com/markets/cannabis/24/10/41237666/exclusive-tax-changes-could-unlock-hundreds-of-millions-in-cash-flow-for-cannabis-sector-experts">formidable </a>for the industry. <a href="https://www.benzinga.com/topic/cannabis-rescheduling">Rescheduling</a> does not require a Senate majority or presidential involvement.
That said, stock prices for cannabis rely heavily on the <a href="https://www.benzinga.com/markets/cannabis/24/08/40567326/dea-delays-cannabis-rescheduling-decision-until-after-november-presidential-election">upcoming DEA administrative hearing and ruling</a>.
Investors should weigh the potential for long-term industry growth against the immediate political headwinds.
<ul>
<li>Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/11/41782344/tilray-trulieve-and-other-cannabis-stocks-nosediving-as-industry-faces-new-wave-of-political-unc">Tilray, Trulieve And Other Cannabis Stocks Nosediving As Industry Faces New Wave Of Political Uncertainty</a></li>
</ul>
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Disclosure: this article is not intended to provide financial advice. Consult a professional before making investment decisions.

TCNNF

Cannabis Stocks: Is It Time To Buy The Dip After Elections And Legalization Setbacks?

Aurora Cannabis Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACB#NASDAQ">ACB</a>) recently reported strong quarterly earnings that outpaced market expectations, despite a downturn across the cannabis sector.&nbsp;
Aurora's share price fell 18% following the earnings report, reflecting broader sector pressures, with the MSOS ETF down 29%. As of this morning, November 7, 2024, Aurora's stock is trading at $5.25 in pre-market, showing a 2.54% increase from its previous close.
"Despite having no U.S. exposure, Aurora surpassed consensus estimates on sales and EBITDA, encouraging guidance for the December quarter," observed analyst Pablo Zuanic of Zuanic &amp; Associates. 
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can&#8217;t afford to miss out if you're serious about the business.</li>
</ul>
<h3 class="wp-block-heading">International Medical Cannabis Growth Drives Revenue</h3>
Aurora's international medical cannabis (MMJ) business significantly bolstered its revenue, with European sales doubling quarter-over-quarter to $20 million, led by strong demand in <a href="https://www.benzinga.com/topic/germany-cannabis">Germany</a> and Poland.&nbsp;
Australian MMJ sales also rose from $9.3 million to $15.1 million, benefiting from an August inventory drawdown following the MedReleaf <a href="https://www.benzinga.com/topic/australia-cannabis">Australia</a> acquisition.
<h3 class="wp-block-heading">Profit Margins Reflect International Expansion</h3>
The company's profitability has improved as higher-margin international markets now make up 57% of Aurora's global MMJ sales from 42% a year ago. This <a href="https://www.benzinga.com/markets/cannabis/24/11/41774692/aurora-cannabis-reports-strong-q2-growth-driven-by-international-medical-marijuana-sales">boosted adjusted cash gross margins to 68%</a> for MMJ products, a 5% increase year-over-year, with total company margins rising 450 basis points to over 55%.&nbsp;
Operating expenses remained steady at $35 million per quarter, resulting in an EBITDA margin increase from 5% to 12% year-over-year.
Read Also:<a href="https://www.benzinga.com/markets/cannabis/24/11/41793174/cannabis-stocks-collapse-after-trump-win-major-players-see-double-digit-declines-at-wednesdays-c"> Cannabis Stocks Collapse After Trump Win: Major Players See Double-Digit Declines At Wednesday&#8217;s Close</a>
<h3 class="wp-block-heading">December Quarter Guidance And Challenges</h3>
Aurora anticipates stable sales and EBITDA for the December quarter, exceeding consensus by 9% and 90%, respectively. The outlook includes a seasonal decline in its propagation business but projects positive EBITDA and free cash flow, supported by<a href="https://www.benzinga.com/markets/cannabis/24/11/41774692/aurora-cannabis-reports-strong-q2-growth-driven-by-international-medical-marijuana-sales"> Aurora's net cash position</a> of $27 million (cash of $85 million against $58 million in Bevo-related debt).&nbsp;
Zuanic noted that international growth remains promising, although "shipments can be inconsistent, making end-market growth predictions difficult."
<h3 class="wp-block-heading">Valuation Compared To Peers</h3>
According to Zuanic, with a valuation of 1.4x its annualized sales, Aurora appears undervalued compared to competitors Tilray (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) and Canopy Growth (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>), which trade at multiples of 3-4x sales.&nbsp;
"Though business models differ, operational trends and lower valuation offer potential upside for ACB shares," Zuanic commented. Aurora's combination of higher-margin international revenue and more conservative valuation may present an opportunity amid sector volatility. 
Read Next:<a href="https://www.benzinga.com/markets/cannabis/24/11/41791833/curaleaf-q3-results-strong-margins-but-44m-loss-whats-next-for-investors"> Curaleaf Q3 Results: Strong Margins But $44M Loss, What&#8217;s Next For Investors?</a>

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Aurora vs. Canopy & Tilray: Which NASDAQ-Listed Cannabis Stock Offers The Best Growth Potential?

On Thursday, Tilray Medical, a division of medical marijuana giant Tilray Brands, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>), announced the final results of a new scientific study, &#8220;Oral Cannabis Extract for Secondary Prevention of Chemotherapy-Induced Nausea and Vomiting (CINV).&#8221; Results showed that cannabis extract significantly reduces chemotherapy-induced vomiting.
"These findings are encouraging for cancer patients undergoing chemotherapy," stated Denise Faltischek, chief strategy officer and head of international at Tilray Brands. "This study is a crucial step in improving patient care and quality of life. Our involvement in this study underscores our commitment to advancing medical research. The positive outcomes highlight the potential of cannabinoids for managing CINV.&#8221;
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/11/41694779/tilray-high-tide-glass-house-how-top-cannabis-companies-deal-with-financial-pressures">Tilray, High Tide, Glass House: How Top Cannabis Companies Deal With Financial Pressures</a>
Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.
<h2 class="wp-block-heading">Study Highlights</h2>
The randomized, placebo-controlled trial tested the effectiveness of an oral cannabis extract in adults suffering from CINV despite standard anti-nausea treatments. Participants received capsules containing 2.5 mg of THC and 2.5 mg of CBD or a placebo, taken three times daily for six days.
The study found the cannabis extract significantly improved the rate of complete response from 8% with placebo to 24% with THC: CBD, with no use of additional medications. Benefits included reduced nausea and fewer daily vomits. 
However, some side effects were noted, such as sedation (18% vs. 7%), dizziness (10% vs. 0%), and transient anxiety (4% vs. 1%). From 2016 to 2022, 147 participants were recruited for the study.
<h2 class="wp-block-heading">Tilray Launches ‘Men's Health on Tap' Podcast</h2>
Meanwhile, Tilray Brands also announced the launch of &#8220;Men&#8217;s Health on Tap,&#8221; a new podcast series hosted by doctors, Dr. John P. Sfakianos, MD, associate professor, Department of Urology at the Icahn School of Medicine and Dr. Steven A. Kaplan, MD, professor, Department of Urology at the Icahn School of Medicine. The podcast aims to break down stigmas, open a conversation and and invite listeners to discuss important men&#8217;s health topics.
Sfakianos and Kaplan noted that many men hesitate to discuss health concerns and may delay visiting the doctor, which can lead to more serious, undiagnosed conditions. In episode one of the podcast, they encourage men to discuss these topics openly and emphasize that regular check-ups and early intervention can help them lead healthier, longer lives.
&#8220;We are excited to launch &#8216;Men&#8217;s Health on Tap&#8217; and break down stigmas around men&#8217;s health,&#8221; stated Sfakianos. &#8220;Our goal is to provide valuable information and resources that will help men take control of their health and wellness.&#8221;
Price Action
Tilray shares traded 1.30% higher at $1.56 per share during Thursday's pre-market session
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/09/40919186/cannabis-giant-tilray-expands-medical-marijuana-portfolio-with-redecan-launch-in-australia">Cannabis Giant Tilray Expands Medical Marijuana Portfolio With Redecan Launch In Australia</a></li>
</ul>
Photo: Courtesy of Tinnakorn jorruang via Shutterstock

Cannabis Extract Significantly Reduces Chemotherapy-Induced Vomiting, Tilray-Backed Study Reveals

Following Donald Trump's presidential <a href="https://www.benzinga.com/news/24/11/41768178/donald-trump-defeats-kamala-harris-to-win-2024-election">election victory Tuesday</a>, the cannabis sector took a sharp downturn.
Here's a summary of the largest stock declines across the industry based on<a href="https://www.benzinga.com/pro/"> data from Benzinga Pro</a>. 
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can't afford to miss out if you&#8217;re serious about the business.</li>
</ul>
<h3 class="wp-block-heading">Top Cannabis Stocks And ETFs Facing Major Losses Post-Election</h3>
<ul>
<li>Trulieve Cannabis (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNFF#OTC">TCNFF</a>): Closed at $7.136, down $5.564 (-43.81%). Volume: 3,590,905 shares.</li>
<li>Cansortium (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CNTMF#OTC">CNTMF</a>): Ended at $0.09803, falling $0.058 (-37.16%). Volume: 2,226,672 shares.</li>
<li>AdvisorShares Pure US Cannabis ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSOS#NYSE">MSOS</a>): Closed at $4.935, down $1.935 (-28.17%). Volume: 35,572,290 shares.</li>
<li>Curaleaf Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTC">CURLF</a>): Closed at $2.23, down $0.884 (-28.39%). Volume: 3,072,876 shares.</li>
<li>Cresco Labs (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CRLBF#OTC">CRLBF</a>): Ended at $1.1342, dropping $0.3958 (-25.87%). Volume: 3,163,255 shares.</li>
<li>C21 Investments (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CXXIF#OTC">CXXIF</a>): Closed at $0.17, down $0.0536 (-23.97%). Volume: 218,362 shares.</li>
<li>Canopy Growth (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>): Closed at $4.285, losing $1.305 (-23.35%). Volume: 10,958,783 shares.</li>
<li>Scotts Miracle-Gro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMG#NYSE">SMG</a>): Closed at $74.46, falling $19.01 (-20.34%). Volume: 2,562,247 shares.</li>
<li>Green Thumb Industries (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTC">GTBIF</a>): Finished at $8.61, down $2.07 (-19.38%). Volume: 2,503,233 shares.</li>
<li>Amplify Alternative Harvest ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MJ#NYSE">MJ</a>): Closed at $2.71, down $0.61 (-18.37%). Volume: 3,404,675 shares.</li>
<li>Aurora Cannabis (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACB#NASDAQ">ACB</a>): Closed at $5.01, down $1.10 (-18.00%). Volume: 3,702,665 shares.</li>
<li>Jushi Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/JUSHF#OTC">JUSHF</a>): Closed at $0.391, down $0.0753 (-16.15%). Volume: 587,553 shares.</li>
<li>AdvisorShares Pure Cannabis ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YOLO#NYSE">YOLO</a>): Closed at $2.7896, down $0.5304 (-15.98%). Volume: 314,508 shares.</li>
<li>Vext Science (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VEXTF#OTC">VEXTF</a>): Closed at $0.1165, down $0.021 (-15.27%). Volume: 379,172 shares.</li>
<li>SNDL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNDL#NASDAQ">SNDL</a>): Closed at $2.035, down $0.355 (-14.85%). Volume: 6,016,260 shares.</li>
<li>Tilray Brands (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>): Closed at $1.52, down $0.25 (-14.12%). Volume: 45,915,711 shares.</li>
<li>Medical Marijuana Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MJNA#OTC">MJNA</a>): Closed at $0.0007, down $0.0001 (-12.5%). Volume: 25,466,093 shares.</li>
<li>OrganiGram Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OGI#NASDAQ">OGI</a>): Closed at $1.675, down $0.175 (-9.46%). Volume: 1,274,063 shares.</li>
<li>Village Farms International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFF#NASDAQ">VFF</a>): Closed at $0.8332, down $0.0659 (-7.33%). Volume: 1,133,165 shares.</li>
</ul>
Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/11/41792417/cannabis-reit-giant-iipr-reports-q3-39-7m-profit-despite-rent-delays-in-sector">Cannabis REIT Giant IIPR Reports Q3 $39.7M Profit Despite Rent Delays In Sector</a>

Sector ETFs

ETFs

CNTMF

CRLBF

CURALEAF HLDGS INC by Curaleaf Hldgs Inc.

CURLF

CXXIF

GTBIF

JUSHI HLDGS INC CL B by Jushi Holdings Inc.

JUSHF

MJNA

TCNFF

VEXTF

Cannabis Stocks Collapse After Trump Win: Major Players See Double-Digit Declines At Wednesday's Close

The cannabis market is experiencing a rough patch after <a href="https://www.benzinga.com/markets/cannabis/24/11/41744722/election-day-2024-will-florida-nebraska-north-and-south-dakota-join-the-marijuana-revolution">election day</a>, with many top U.S. and Canadian cannabis stocks under pressure following Donald Trump&#8216;s victory, the prospect of a GOP-controlled Senate and <a href="https://www.benzinga.com/markets/cannabis/24/11/41763514/florida-rejects-cannabis-legalization-amendment-supported-by-trump-detested-by-desantis">Florida&#8217;s rejection of Amendment 3</a> that would have legalized cannabis.
As of Wednesday mid-morning, key cannabis players experienced notable drops in share prices, reflecting investor caution and panic sales as the sector faces a wave of political uncertainty.
For instance, shares of cannabis leader Tilray Brands Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) are trading at $1.53, down $0.25, or -13.7%. Tilray&#8217;s chart shows a sharp decline with increased trading volume nearing 10 million shares.
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="475" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06122623/tilray-1024x475.png" alt="" class="wp-image-633330" style="width:656px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06122623/tilray-1024x475.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06122623/tilray-300x139.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06122623/tilray-768x356.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06122623/tilray-1536x713.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06122623/tilray.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Chart <a href="https://pro.benzinga.com/dashboard">created using Benzinga Pro</a>
Here's how other top U.S. and Canadian cannabis stocks are trading as of Wednesday mid-morning:
<ul>
<li>Curaleaf Holdings Inc (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTC">CURLF</a>) shares are trading at $2.38, down $0.74.</li>
<li>Green Thumb Industries Inc (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTC">GTBIF</a>) shares are trading at $8.78, down $1.90.</li>
<li>Trulieve Cannabis Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>) <a href="https://www.trulieve.com/" target="_blank" rel="noreferrer noopener"></a>shares are trading at $7.27, down $5.43.</li>
<li>Canopy Growth Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) shares are trading at $4.35, down $1.25.</li>
</ul>
A look at how some of the most traded cannabis ETFs are trading:
<ul>
<li>AdvisorShares Pure US Cannabis ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YOLO#NYSE">YOLO</a>) shares are trading at $5.01, down $1.87.</li>
<li>ETFMG Alternative Harvest ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MJ#NYSE">MJ</a>) shares are trading at $2.74, down $0.59.</li>
<li>AdvisorShares Pure Cannabis ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSOS#NYSE">MSOS</a>) shares are trading at $2.80, down $0.52.</li>
</ul>
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/11/41780079/floridas-cannabis-initiative-defeated-trulieve-ceo-kim-rivers-nfls-ricky-williams-and-others-res">Florida&#8217;s Cannabis Initiative Defeated: Trulieve CEO Kim Rivers, NFL&#8217;s Ricky Williams And Others Respond</a>
Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.
<h3 class="wp-block-heading">Market Takes A Toll On Trulieve Bet</h3>
Trulieve Cannabis Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>) stands out in this market slump, experiencing a -43% at the moment of writing. 
Trulieve, which invested heavily in Florida's <a href="https://www.benzinga.com/markets/cannabis/24/11/41780079/floridas-cannabis-initiative-defeated-trulieve-ceo-kim-rivers-nfls-ricky-williams-and-others-res">Amendment 3 campaign</a> &#8211; over $110 million &#8211; saw its shares tumble from nearly $12 to $7.27, losing $5.43.
This drastic drop comes on the heels of both the company&#8217;s <a href="https://www.benzinga.com/markets/cannabis/24/11/41743807/trulieves-q3-revenue-up-slightly-year-over-year-net-loss-grows-amid-48m-in-cannabis-legalization">Q3 earnings report</a> and the failed Florida legalization measure.
Trulieve reported $284 million in revenue, a modest 3% year-over-year increase, but the substantial campaign investment weighed heavily on its financials. 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="608" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06114215/Captura-de-pantalla-2024-11-06-a-las-13.18.34-1024x608.png" alt="" class="wp-image-633191" style="width:655px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06114215/Captura-de-pantalla-2024-11-06-a-las-13.18.34-1024x608.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06114215/Captura-de-pantalla-2024-11-06-a-las-13.18.34-300x178.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06114215/Captura-de-pantalla-2024-11-06-a-las-13.18.34-768x456.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06114215/Captura-de-pantalla-2024-11-06-a-las-13.18.34-1536x911.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06114215/Captura-de-pantalla-2024-11-06-a-las-13.18.34.png 1820w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Chart <a href="https://pro.benzinga.com/dashboard">created using Benzinga Pro</a>
The chart for Trulieve shows a sharp drop from over $12 to the $7 range, with significant volume spikes, indicating heavy selling pressure. 
Had the amendment passed, a clear win for Trulieve, the situation would probably be quite different.
<ul>
<li>Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/11/41780260/canopy-growth-and-other-top-cannabis-companies-to-report-earnings-will-results-get-pot-stocks-on">Canopy Growth And Other Top Cannabis Companies To Report Earnings: Will Results Get Pot Stocks On Track Following Post-Election Dip?</a></li>
</ul>
Cover: AI-generated image

Tilray, Trulieve And Other Cannabis Stocks Nosediving As Industry Faces New Wave Of Political Uncertainty

Shares of cannabis stocks are trading lower after a cannabis legalization initiative did not pass in Florida.

AAWH

ALEAFIA HEALTH INC ORD by Aleafia Health Inc.

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AUSAF

AVTBF

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BBRRF

BHHKF

BLOZF

BMMJ

CANN

CBDY

CBMJ

CANNABIS WHEATON INCOME by Cannabis Wheaton Income Corp.

CBWTF

CHOOF

CLSH

CLVR

CNBS

CNBX

CNGGF

CNPOF

CNVCF

CPHRF

CURE PHARMA HLDG CORP by CURE Pharmaceutical Holding Corp.

CURR

CVHIF

CVSI

CANNIBIS GROWTH OPTY CORP by Cannabis Growth Opportunity Corp.

CWWBF

ELLXF

EMOR

ETST

EVIO

FFLWF

FFNTF

FUTURE FARM TECHNOLOGIES by Future Farm Technologies Inc.

FFRMF

FLGC

FLOOF

FLWPF

FINCANNA CAPITAL CORP by Fincanna Capital Corp.

FNNZF

FUAPF

GABRIELLAS KITCHEN INC by Gabriella's Kitchen Inc.

GABLF

GBHPF

GENE

GHBWF

GLASF

GNLN

GRAMF

GRNH

GREEN SPIRIT INDUSTRIES by Green Spirit Industries Inc.

GSRX

HBOSF

HEMP

HERTF

HHPHF

HMLSF

IIPR

INCR

INLB

ISODIOL INTERNATIONAL ORD by Isodiol International Inc.

ISOLF

ITHUF

IVITF

JWCAF

KALY

KAYS

KHIRON LIFE SCIENCES CORP by Khiron Life Sciences Corp.

KHRNF

LEAFBUYER TECHNOLOGIES by Leafbuyer Technologies, Inc.

LBUY

LFCOF

LIFD

LMLLF

LNLHF

LOVFF

LRSNF

LVRLF

LXLLF

MGCLF

MGWFF

MJNE

MJUS

MMNFF

MPXOF

MRMD

NDVAF

NOBDF

NWVCF

OILFF

PHOT

PKPH

AP Reports Florida Voters Reject Cannabis Legalization; Amendment 3 Did Not Secure 60% Of Vote

As the cannabis industry maneuvers through financial complexities and regulatory uncertainties, recent updates from Tilray Brands Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>), High Tide Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HITI#NASDAQ">HITI</a>) and Glass House Brands Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GLASF#OTC">GLASF</a>) offer a clear glimpse into the fiscal health and strategic pivots of these market leaders.
Each company's Q3 and Q1 financials, as examined by Elevetix, a company providing research and consulting for companies and investors in cannabis and AgriTech sectors, reveal varied approaches to market share, cost control and potential growth in Canada, the U.S. and Europe.
<h3 class="wp-block-heading">HITI's Market Expansion Across Canada And Beyond</h3>
High Tide&#8217;s Q3 report radiates positivity, <a href="https://www.benzinga.com/markets/cannabis/24/09/40920148/exclusive-high-tide-ceo-highlights-major-drivers-behind-record-earnings-market-share-growth">with the company marking a notable expansion across Canada</a>, Germany and the U.S. Its revenue climbed to CAD 131.7 million ($94.4 million), representing a 6% increase year-over-year, complemented by a strong 12% market share in the operational provinces. Noteworthy is its aggressive pricing strategy aimed at ousting competitors, which seems to be paying off as evidenced by its growing market share and stable gross margins at 27%. 
Moreover, Elevetix notes the firm also boasts a swelling loyalty program, suggesting robust consumer retention and engagement.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Another milestone for <a href="https://twitter.com/HighTide_HITI?ref_src=twsrc%5Etfw">@HighTide_HITI</a>. Very pleased to announce that we now have our 1st equity research analyst based in Europe, as Nik Faes of ELEVETIX issued a report today. We now have 7 analysts providing research coverage on our shares &#8211; momentum continues to build! <a href="https://twitter.com/search?q=%24HITI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$HITI</a>
&mdash; Raj Grover &#x1f1e8;&#x1f1e6; (@RajGrover_HITI) <a href="https://twitter.com/RajGrover_HITI/status/1852038663879700620?ref_src=twsrc%5Etfw">October 31, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.</li>
</ul>
<h3 class="wp-block-heading">TLRY Operational Losses Reflect Cost Struggles</h3>
In contrast, Tilray&#8217;s <a href="https://www.benzinga.com/markets/cannabis/24/10/41273594/tilray-reports-200m-q1-net-revenue-up-13-yoy-as-net-loss-improves">Q1 revelations detail a struggle to maintain momentum</a>. Despite a 13% increase in net revenue, reaching $200 million, largely fueled by its alcoholic segment, its cannabis business continues to underperform with a 13% decline. The operational loss widened to $37 million, highlighting <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41613366/beyond-beer-tilrays-1-67-billion-market-play-is-this-cannabis-giant-still-a-smart-b">ongoing challenges in market positioning and cost management</a>.
According to the Elevetix reports, Tilray's strategic maneuvers, including potential acquisitions of Aurora Cannabis Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACB#NASDAQ">ACB</a>) and Canopy Growth (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>)&#8217;s non-U.S. operations, suggest a pivot towards strengthening its medical cannabis footprint in international markets.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41478283/female-cannabis-consumers-outspend-men-how-tilray-and-high-tide-are-responding">Female Cannabis Consumers Outspend Men: How Tilray And High Tide Are Responding</a>
<h3 class="wp-block-heading">GLASF Targets Cost Leadership</h3>
On the other hand, Glass House Brands underscores its ambition to dominate through cost leadership in cultivation. Reporting the lowest production cost among North American growers, the company aims to slash it further from $130 to $100 per pound. Its expansion strategy is tightly coupled with regulatory shifts, particularly the federal rescheduling of cannabis, which could boost its operations nationally. 
Notably, management aims to manage dilution through careful equity issuance and additional capital raises for expansion phases.
<h3 class="wp-block-heading">Election Uncertainty Impacts Cannabis Stocks</h3>
Elevetix&#8217;s latest investor briefings spotlight the <a href="http://benzinga.com/cannabis">cannabis sector's</a> resilience amid market pressures and election uncertainties. <a href="https://www.benzinga.com/markets/cannabis/24/10/41662424/cannabis-stocks-sink-amid-broader-market-decline-and-election-jitters">With cannabis stocks reflecting the broader economic downturn</a>, these insights into companies like Tilray, High Tide and Glass House Brands emphasize strategic adaptability in a volatile landscape.&nbsp;
As policy and economic shifts unfold, these companies' distinct approaches may offer investors crucial perspectives on industry stability and growth potential.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/08/40465710/why-are-so-many-california-cannabis-companies-switching-to-hemp-products">Why Are So Many California Cannabis Companies Switching To Hemp Products?</a></li>
</ul>

HITI

Tilray, High Tide, Glass House: How Top Cannabis Companies Deal With Financial Pressures

Cannabis stocks are experiencing notable declines this Thursday, aligning with a general downturn across major economic indices. At the time of publication of this article, the S&amp;P 500 index was trading down by 1.62%, the Nasdaq 100 by 2.44%, and the Dow Jones Industrial Average (DJIA) showed a similar downward trend earlier in the day, only partially recovering.
This widespread decline points to a broader economic shift, with investors adopting a more cautious approach amid market volatility. 
The performance of these major indices often reflects investor sentiment across sectors, and the impact on cannabis stocks highlights their sensitivity to these broader economic movements.
<h3 class="wp-block-heading">Cannabis Stocks Hit Hard</h3>
Several prominent cannabis stocks saw significant drops today. Tilray Brands Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) fell by 2.8%, Aurora Cannabis Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACB#NASDAQ">ACB</a>) dropped by 4.14% and Canopy Growth Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) saw a 6.67% decline. Other companies, like SNDL Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNDL#NASDAQ">SNDL</a>) and Cronos Group Inc. (NASDAD: CRON), also recorded losses. The downward trend isn't limited to individual companies; cannabis ETFs, such as the AdvisorShares Pure US Cannabis ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSOS#NYSE">MSOS</a>) and Amplify Alternative Harvest ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MJ#NYSE">MJ</a>), experienced losses as well. This widespread impact underscores the challenges cannabis stocks face in a volatile market.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="788" height="990" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/31142536/Captura-de-pantalla-2024-10-31-a-las-15.25.12.png" alt="" class="wp-image-624602" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/31142536/Captura-de-pantalla-2024-10-31-a-las-15.25.12.png 788w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/31142536/Captura-de-pantalla-2024-10-31-a-las-15.25.12-239x300.png 239w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/31142536/Captura-de-pantalla-2024-10-31-a-las-15.25.12-768x965.png 768w" sizes="(max-width: 788px) 100vw, 788px" /></figure>
Cannabis Stocks Watchlist In <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Movements recorder prior to the writing of this article.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41629360/criminal-organizations-lose-30m-annually-as-uruguays-legal-cannabis-expands-but-some-say-the-gov">Criminal Organizations Lose $30M Annually As Uruguay&#8217;s Legal Cannabis Expands, But Some Say The Government Is Now The Criminal</a>
<h3 class="wp-block-heading">Election Uncertainty Adds Pressure</h3>
Political factors may also be contributing to the <a href="https://www.benzinga.com/markets/cannabis/24/10/41656834/trump-harris-and-cannabis-stocks-are-election-results-already-priced-in">pressure on cannabis stocks</a>. 
With the upcoming U.S. elections, rising support for Donald Trump could signal potential GOP control of Congress. Historically, a Republican-led Congress has been less supportive of cannabis reform, raising concerns about policy stagnation for the industry. Investors might be factoring in this possibility, creating additional headwinds for cannabis-related equities in an already challenging market environment.
<ul>
<li>Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/10/41656834/trump-harris-and-cannabis-stocks-are-election-results-already-priced-in">Trump, Harris And Cannabis Stocks: Are Election Results Already Priced In?</a></li>
</ul>
COVER: AI-generated image

Cannabis Stocks Sink Amid Broader Market Decline And Election Jitters

Breckenridge Brewery, A Subsidiary Of Tilray Brands Announced An Exciting Collaboration With The University Of Colorado Athletics To Bring Fans A Special Edition Of Its Beloved Juice Drop Hazy Ipa In A New 19.2 Oz. Limited-edition Can

The U.S. heads into another historical election, the outcome of which will have an effect on cannabis stocks.
With both major candidates, Donald Trump and Kamala Harris, supporting cannabis reform, investors are closely watching the sector. These past few days, volatility has taken the stage as many have decided to take profits from the <a href="https://www.benzinga.com/markets/cannabis/24/10/41552613/cannabis-stocks-rally-canopy-aurora-sndl-organigram-and-others-see-gains">recent rally</a>.
However, Trump's recent <a href="https://www.benzinga.com/general/politics/24/10/41614533/market-expert-makes-2024-election-prediction-did-worlds-most-accurate-economist-pick-harris-or-t">rise in the polls</a> might be adding complexity, as the market legitimately questions whether his pro-cannabis stance is genuine or merely a strategic move to gain votes.
Let&#8217;s look at how major cannabis stocks are responding to this uncertain <a href="https://www.benzinga.com/markets/cannabis/24/09/41032299/cannabis-reform-on-the-horizon-but-lasting-change-requires-more-than-promises">political landscape</a>.
<h3 class="wp-block-heading">Trulieve Cannabis (TCNNF)</h3>
Trulieve (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>)&#8217;s stock saw a <a href="https://www.benzinga.com/markets/cannabis/24/10/41552613/cannabis-stocks-rally-canopy-aurora-sndl-organigram-and-others-see-gains">period of gains</a>, followed by a sharp drop in recent sessions, likely driven by profit-taking and election-related uncertainty. The volume spike in this downturn indicates strong selling interest. The bearish MACD signal underscores a cautious sentiment taking over.
<figure class="wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex"> 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="525" data-id="622609" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151556/TRLV-1024x525.png" alt="" class="wp-image-622609" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151556/TRLV-1024x525.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151556/TRLV-300x154.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151556/TRLV-768x394.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151556/TRLV-1536x787.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151556/TRLV.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure> 
</figure>
<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Chart created using Benzinga Pro</a>
<h3 class="wp-block-heading">AdvisorShares Pure Cannabis ETF (YOLO)</h3>
The AdvisorShares Pure Cannabis ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YOLO#NYSE">YOLO</a>), which represents a basket of cannabis companies, mirrors Trulieve's recent pattern, with a strong rise followed by a sharp decline. Increased volume on down days suggests that investors are tempering their optimism as the market appears hesitant to price in cannabis reform. The recent MACD crossover to bearish territory also reflects this hesitation.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="549" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151645/YOLO-1-1024x549.png" alt="" class="wp-image-622611" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151645/YOLO-1-1024x549.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151645/YOLO-1-300x161.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151645/YOLO-1-768x412.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151645/YOLO-1-1536x824.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151645/YOLO-1.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Chart created using Benzinga Pro</a>
<h3 class="wp-block-heading">AdvisorShares Pure US Cannabis ETF (MSOS)</h3>
The AdvisorShares Pure US Cannabis ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSOS#NYSE">MSOS</a>) representing U.S.-based cannabis companies, also saw a strong rally followed by a sharp decline. Increased volume on the downturn highlights investor skepticism. Again, the MACD turning bearish underscores a shift from optimism to caution.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="545" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151949/MSOS-1-1024x545.png" alt="" class="wp-image-622620" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151949/MSOS-1-1024x545.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151949/MSOS-1-300x160.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151949/MSOS-1-768x408.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151949/MSOS-1-1536x817.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151949/MSOS-1.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Chart created using Benzinga Pro</a>
<h3 class="wp-block-heading">Tilray Brands (TLRY)</h3>
Tilray (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>)&#8217;s stock has been relatively stable, showing a lack of strong momentum in either direction, which might just be consolidation. This range-bound movement normally reflects investor indecision as they wait for clearer signals. The stock is neutral regarding MACD and is building resistance around $1.65.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="539" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151656/TLRY-1-1024x539.png" alt="" class="wp-image-622612" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151656/TLRY-1-1024x539.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151656/TLRY-1-300x158.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151656/TLRY-1-768x404.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151656/TLRY-1-1536x809.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151656/TLRY-1.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Chart created using Benzinga Pro</a>
<h3 class="wp-block-heading">Ispire Technology (ISPR)</h3>
Ispire Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISPR#NASDAQ">ISPR</a>) is seeing a sustained downtrend with selling pressure intensifying as election day approaches. The increased volume on down days and the bearish MACD signal indicate slight investor pessimism.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="521" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151700/INPR-1-1024x521.png" alt="" class="wp-image-622613" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151700/INPR-1-1024x521.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151700/INPR-1-300x153.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151700/INPR-1-768x390.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151700/INPR-1-1536x781.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151700/INPR-1.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Chart created using Benzinga Pro</a>
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can't afford to miss out if you&#8217;re serious about the business.</li>
</ul>
<h3 class="wp-block-heading">Scotts Miracle-Gro (SMG)</h3>
Scotts Miracle-Gro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMG#NYSE">SMG</a>) stands out with continued upward momentum and a bullish MACD, suggesting relative strength in the sector. Unlike more cannabis-focused stocks, Scotts' diversified product line provides a cushion and might be appealing to investors seeking stability.
It also speaks to the slight pessimism cannabis stocks are facing, which might be related to upcoming elections.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="622" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30182606/SCOTS-1024x622.png" alt="" class="wp-image-622876" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30182606/SCOTS-1024x622.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30182606/SCOTS-300x182.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30182606/SCOTS-768x467.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30182606/SCOTS-1536x934.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30182606/SCOTS.png 1777w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Chart created using Benzinga Pro</a>
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41599546/canadas-cannabis-market-goes-cold-pot-prices-hit-bottom-why-top-producers-are-losin">Canada&#8217;s Cannabis Market Goes Cold, Pot Prices Hit Bottom: Why Top Producers Are Losing Ground</a>
<h3 class="wp-block-heading">Is The Market Pricing A Trump Victory?</h3>
If we considered the sentiment of a Trump victory, parting from his momentum in current polls, then we might push forward the following hypothesis: despite Trump's recent statements supporting cannabis rescheduling, market behavior is suggesting skepticism. The downward trends in recent rounds suggest a link between a Trump potential victory and investors&#8217; selling sentiments. Trump is still behind Harris in most polls but the gap is closing quickly.
While Trump's corporate tax cuts could benefit companies in general, one of the main problems cannabis companies face is<a href="https://www.benzinga.com/markets/cannabis/24/10/41318914/almost-every-major-cannabis-company-could-see-positive-cash-flow-if-280e-is-removed-in-2025"> 280-E</a>, a burden that will be taken out of the corporations&#8217; backs if cannabis is rescheduled. At this point, given the result of recent rounds, investors might be doubting Trump&#8217;s commitment to reform.
As the election day draws closer, cannabis stocks remain in a delicate balancing act, which investors would be wise to watch closely.
<ul>
<li>Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/10/41318914/almost-every-major-cannabis-company-could-see-positive-cash-flow-if-280e-is-removed-in-2025">Almost Every Major Cannabis Company Could See Positive Cash Flow If 280E Is Removed In 2025</a></li>
</ul>
Cover: AI-generated image

Technicals

Trump, Harris And Cannabis Stocks: Are Election Results Already Priced In?

Microsoft shares are trading higher after the company reported better-than-expected Q1 2025 GAAP EPS and sales.

Tilray Brands (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) remains a cautious investment, according to Zuanic &amp; Associates, despite its solid balance sheet and diverse global assets. With a "Neutral" rating, Zuanic views Tilray as a long-term player in the cannabis sector, though short-term uncertainties cloud its outlook.
Tilray's international presence is expanding, notably in <a href="https://www.benzinga.com/topic/germany-cannabis">Germany</a>, where sales have grown 50%. Yet, headwinds persist, including high operating expenses, rising share count and ongoing market share losses in Canada where Tilray has opted against aggressive discounting in certain product categories.
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can't afford to miss out if you&#8217;re serious about the business.</li>
</ul>
<h3 class="wp-block-heading">U.S. Beverage Expansion Shows Potential</h3>
In the U.S., Tilray has bolstered its beverage portfolio with <a href="https://www.benzinga.com/markets/cannabis/24/09/41009554/tilray-brands-launches-hemp-derived-delta-9-thc-drinks-in-key-u-s-markets">craft beer brands </a>acquired from Molson Coors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAP#NYSE">TAP</a>), positioning itself to gain ground in the non-alcoholic hemp drink market &#8211; a segment showing explosive growth potential.
Still, <a href="https://www.benzinga.com/markets/cannabis/24/10/41273594/tilray-reports-200m-q1-net-revenue-up-13-yoy-as-net-loss-improves">Tilray's revenue</a>, at $200 million for the August quarter, trails its $950 million target for FY25, casting doubt on near-term growth momentum.
<h3 class="wp-block-heading">Rising Costs And Dilution</h3>
Tilray's operating expenses remain a point of concern, with Selling, General &amp; Administrative (SGA) costs reaching 34% of sales in the first quarter of FY25 &#8211; an increase from 31% in FY24. This rise in cash SGA expenses has contributed to a 300 basis point drop in Tilray's adjusted EBITDA margin.
Additionally, Tilray's share count has grown significantly, increasing from 657 million in FY23 to 903.3 million by October 2024. While this higher share count bolsters liquidity, it also affects per-share revenue metrics.
Despite the dilution, Tilray's revenue per share has remained stable, reflecting accretive growth from recent acquisitions. However, the increased equity base will require the company to continue driving organic growth to justify valuation metrics and support long-term investor confidence.
Read Also: EXCLUSIVE:<a href="https://www.benzinga.com/markets/cannabis/24/10/41502695/exclusive-tilray-ceo-irwin-simon-on-why-us-cannabis-rescheduling-wont-change-a-billion-dollar-pl"> Tilray CEO Irwin Simon On Why US Cannabis Rescheduling Won&#8217;t Change A Billion-Dollar Play</a>
<h3 class="wp-block-heading">Valuation Premium And Investor Outlook</h3>
Valued at an estimated $1.67 billion, Tilray trades at a 1.7x EV/sales multiple, with its cannabis segment trading at a premium of 4x, well above industry norms.
While Tilray's liquidity and extensive market reach make it a formidable <a href="https://www.benzinga.com/markets/cannabis/24/09/40919186/cannabis-giant-tilray-expands-medical-marijuana-portfolio-with-redecan-launch-in-australia">global contender</a>, Zuanic advises investors to await clearer evidence of sustainable growth across international markets and gains in operational efficiency.
<h3 class="wp-block-heading">Path Ahead: Strategic Global Expansion</h3>
Tilray's journey hinges on its ability to capitalize on international cannabis expansion, reinvigorate its U.S. brands, and improve financial performance. For now, Zuanic &amp; Associates suggests that potential investors stay on the sidelines, with Tilray's future resting on a steady, strategic push through emerging global markets.
Read Next:<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41599546/canadas-cannabis-market-goes-cold-pot-prices-hit-bottom-why-top-producers-are-losin"> Canada&#8217;s Cannabis Market Goes Cold, Pot Prices Hit Bottom: Why Top Producers Are Losing Ground</a>

Retail Sales

Beyond Beer, Tilray's $1.67 Billion Market Play: Is This Cannabis Giant Still A Smart Buy?

Canada's cannabis market is seeing a chilling stagnation, with 2024 showing nearly zero growth in consumer sales—a stark contrast to the double-digit gains of previous years.
Amid this slowdown, certain products capture consumer interest, even as prices stabilize and competition intensifies. In his latest analysis, senior analyst Pablo Zuanic of <a href="https://zuanicgroup.com/">Zuanic &amp; Associates</a> explores what's still selling in a market haunted by stagnation and shifting dynamics.
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can&#8217;t afford to miss out if you're serious about the business.</li>
</ul>
<h3 class="wp-block-heading">Flower Segment: Stabilized Prices And Market Fragmentation</h3>
The flower segment remains essential to <a href="https://www.benzinga.com/topic/canada-cannabis">Canada's cannabis sales</a>, though dynamics among top players are shifting. Village Farms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFF#NASDAQ">VFF</a>) leads with a 15% share, though down from 17.4% in Q2 2024, followed by Tilray (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) at 12.8%, Organigram (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OGI#NASDAQ">OGI</a>) and Cronos (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRON#NASDAQ">CRON</a>) at 10.8% and 6.1%, respectively.
Mid-tier players include Auxly (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CBWTF#OTC">CBWTF</a>), Canopy Growth (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>), and Cannara Biotech (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LOVFF#OTC">LOVFF</a>), each with 2-5% shares.
Average flower prices stabilized at CAD 5 per gram ($3.70), up slightly from CAD 4.80 last year, though individual prices vary slightly by producer.
<h3 class="wp-block-heading">Pre-Rolls Gain Ground, With Decibel Leading In Infused Joints</h3>
Pre-rolls have reached parity with flower sales, each making up 35% of the market, reflecting <a href="https://www.benzinga.com/topic/cannabis-marketing">a shift in consumer preferences</a>. Decibel (OTC:<a class="ticker" href="https://www.benzinga.com/stock/DBCCF#OTC">DBCCF</a>) holds a 10.8% share of this segment, followed by Tilray at 8.5%, Organigram at 6.4%, and Village Farms at 5.4%.
Subcategory breakdowns show joints leading with 55% of sales, while <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/12/36268367/u-s-cannabis-market-premium-products">infused joints </a>make up 27%. Decibel, once a leader in infused joints, saw its dominance decrease from 55% in Q3 2023 to 38% in Q3 2024.
Mid-range pre-roll players include BZAM with 4.2%, Weed Me (private) with 3.9%, and Auxly with 3.3%.
Read Next:<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41561831/m-a-frenzy-and-deflation-post-election-which-companies-are-ready-to-win-big-in-flor"> M&amp;A Frenzy And Deflation Post-Election: Which Companies Are Ready To Win Big In Florida&#8217;s Cannabis Market</a>
<h3 class="wp-block-heading">Vape Segment: Motif Labs Dominates 510 Cartridges</h3>
Vapes now comprise 16% of the <a href="https://www.benzinga.com/topic/canada-cannabis">Canadian cannabis market</a>, led by Motif Labs with a 20.6% share, followed by Auxly at 12.9%, Decibel at 9.7%, and Cronos at 7.3%. The 510 cartridges, particularly in 1ml and 1.2ml formats, dominate vape sales with 74% of the market, underscoring their popularity.
Disposables and live resin cartridges have smaller shares, with closed-loop systems representing 2% of sales. Tilray and Cannara also hold smaller but significant shares in this segment, at 4.9% and 3.4%, respectively.
<h3 class="wp-block-heading">International Ventures: The Next Growth Frontier?</h3>
While the domestic market stagnates, Zuanic notes a shift in investor focus toward <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39609582/europe-is-turning-cash-flow-positive-well-see-what-happens-in-the-u-s-largest-canna">companies with international strategies</a>, especially given potential U.S. regulatory reforms.
"Canadian LPs are positioning for U.S. entry and<a href="https://www.benzinga.com/markets/cannabis/24/06/39442869/2-9b-european-cannabis-market-a-strategic-blueprint-for-cross-border-transportation-logistics"> European expansion</a>, focusing less on local sales growth," he explains, suggesting that global ventures could provide critical revenue streams as companies seek growth beyond Canada's limited market.
Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/10/41502695/exclusive-tilray-ceo-irwin-simon-on-why-us-cannabis-rescheduling-wont-change-a-billion-dollar-pl">EXCLUSIVE: Tilray CEO Irwin Simon On Why US Cannabis Rescheduling Won&#8217;t Change A Billion-Dollar Play</a>

Guidance

Management

DBCCF

Canada's Cannabis Market Goes Cold, Pot Prices Hit Bottom: Why Top Producers Are Losing Ground

In a fireside chat with senior analyst Pablo Zuanic on October 23, 2024, Tilray Brands (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) CEO Irwin Simon shared insights into the company's growth strategies, highlighting profitability, U.S. market entry and the expansion of their cannabis and beverage businesses. Simon also addressed the recent quarterly performance and challenges the company faces in both domestic and international markets.
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can&#8217;t afford to miss out if you're serious about the business.</li>
</ul>
<h3 class="wp-block-heading">Record Quarterly Performance With A Focus On Profitability</h3>
Tilray's first-quarter results for FY25 marked a record $200 million in revenue, up 13% year-over-year, with gross profit jumping 35%. While some investors expressed concerns about the decline in the cannabis segment, Simon reiterated Tilray's focus on profitable sales growth over chasing market share at unsustainable margins. "It's very easy for us to go out there and wholesale cannabis and not make any profit," Simon said, emphasizing the focus on premium branding, genetics and innovation.
Tilray also maintained a solid balance sheet, with nearly <a href="https://www.benzinga.com/markets/cannabis/24/10/41273594/tilray-reports-200m-q1-net-revenue-up-13-yoy-as-net-loss-improves">$250 million in cash and a debt-to-equity ratio of 1.75</a>. Simon highlighted the profitability of Tilray's diversified portfolio, which spans cannabis, hemp food, beverages and pharmaceutical distribution. "Each of those businesses today are profitable," he pointed out.
<h3 class="wp-block-heading">Hemp-Infused Drinks: A New Frontier</h3>
Tilray's push into hemp-derived Delta-9 THC drinks forms a critical part of its U.S. strategy. Simon discussed the launch of brands like Happy Flower, 420 Fizz and Fizzy Jane, which will be available in 17 to 19 states. He underscored the growing demand for cannabis-infused beverages, particularly among younger consumers who are turning away from alcohol. "If I could sell THC-infused drinks legally in the U.S. today, I think it's a billion-dollar opportunity," Simon remarked.
Leveraging Tilray's established distribution network is key to its growth in this space. "We have 700 beer distributors, 10 manufacturing facilities and we're in over 17,000 accounts," Simon noted, adding that regulatory developments could further expand distribution opportunities.
Read Also:<a href="https://www.benzinga.com/markets/cannabis/24/10/41478283/female-cannabis-consumers-outspend-men-how-tilray-and-high-tide-are-responding"> Female Cannabis Consumers Outspend Men: How Tilray And High Tide Are Responding</a>
<h3 class="wp-block-heading">Craft Beer Strategy: Consolidating For Focused Growth</h3>
Since acquiring SweetWater Brewing in 2020, Tilray has significantly grown its craft beer portfolio, selling 15 million cases annually across 19 brands. SweetWater is now number one in Georgia, while Montauk dominates New York's metro area. However, Simon revealed a shift in strategy, focusing on core markets rather than spreading thinly across multiple states. "Montauk doesn't mean anything in Georgia," Simon explained, prioritizing growth in key regions where Tilray can build a stronger presence.
<h3 class="wp-block-heading">Navigating U.S. Cannabis Market Entry</h3>
Tilray remains cautious about directly entering the U.S. cannabis market, waiting for clearer regulatory frameworks. With a strong presence in the U.S. through its hemp food and beverage businesses, Simon said that Tilray is well-positioned for future legalization. "We know how to grow cannabis… and we have the balance sheet to fund it," he said, highlighting the company's experience in cultivation and product development from its operations in Canada.
<h3 class="wp-block-heading">Tilray&#8217;s Focus on Lifestyle Brands, Regardless Of U.S. Rescheduling</h3>
Simon noted that Tilray's success is not dependent on U.S. cannabis rescheduling. "If nothing happens &#8211; no rescheduling, no legalization &#8211; we already have a good-sized business in the U.S. in the consumer products space," he said. The company's portfolio, which includes non-alcoholic beverages, hemp food and beer, solidifies Tilray's position as a lifestyle brand. "We're a lifestyle business that brings people together, and we'll keep doing acquisitions and growing regardless of what happens with cannabis reform," Simon said, highlighting Tilray's long-term adaptability.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41358727/billion-dollar-cannabis-and-beverage-giant-brings-oktoberfest-vibes-to-your-glass-with-new-craft">Billion-Dollar Cannabis And Beverage Giant Brings Oktoberfest Vibes To Your Glass With New Craft Beers</a>
<h3 class="wp-block-heading">Challenges And Opportunities In International Markets</h3>
Tilray continues to face challenges in international markets, particularly in Europe. Simon noted issues with lost distribution in Israel but expressed optimism about the growth potential in Germany and other countries as medical cannabis regulations become more liberal. Despite these hurdles, Tilray's 45% market share in Canada's cannabis drinks segment provides a solid foundation for international expansion.
<h3 class="wp-block-heading">Looking Ahead: Innovation And Diversification</h3>
Tilray's future growth will rely heavily on innovation and the ability to leverage its diversified business model. Simon pointed to non-alcoholic drinks and energy drinks, such as the Liquid Love brand, as examples of how Tilray is responding to shifting consumer preferences. He emphasized the importance of innovation and distribution synergies: "Beer distributors are the ones out there selling these products."
As Tilray navigates a dynamic regulatory landscape and evolving consumer demands, Simon remains confident in the company's long-term prospects. "We're just not going to throw good money after bad," he concluded, underscoring the importance of strategic growth and profitability.
Read Next:<a href="https://www.benzinga.com/markets/cannabis/24/10/41284165/tilray-ceo-irwin-simon-2024-election-likely-to-drive-u-s-cannabis-legalization-no-matter-who-win"> Tilray CEO Irwin Simon: 2024 Election Likely To Drive U.S. Cannabis Legalization, No Matter Who Wins</a>

Financing

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Exclusives

Interview

EXCLUSIVE: Tilray CEO Irwin Simon On Why US Cannabis Rescheduling Won't Change A Billion-Dollar Play

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Tilray launches new podcast series to break down stigmas around men's health

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Tilray Medical announces results from study on oral cannabis extract

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