Canopy Gwth (NASDAQ:CGC) Stock, Quote.Headers.trade-ideas

Canopy Gwth

Canopy Growth

Canopy Growth, headquartered in Smiths Falls, Canada, cultivates and sells medicinal and recreational cannabis, and hemp, through a portfolio of brands that include Doja, 7ACRES, Tweed, and Deep Space. Its non-THC products include skincare products under Martha Stewart CBD and Storz & Bickel vaporizers. Canopy growth merged its US assets into a separately operated holding company, Canopy USA, which will not be consolidated into the Canadian company's financials.

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Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) will release its financial results for the first quarter of fiscal year 2025 ended June 30, 2024, before financial markets open on August 9, 2024.Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) will hold its 2024 second-quarter earnings conference call on Thursday, August 8, 2024, at 8:30 am Eastern Time. TILT Holdings Inc. (Cboe: TILT) (OTCQB: TLLTF) will host a second-quarter earnings conference call on Friday, August 9, 2024, at 8:30 am Eastern Time. WM Technology, Inc. (NASDAQ: MAPS) - also known as Weedmaps - a leading marketplace and technology solutions provider to the cannabis industry, today announced it will report financial results for its second quarter ended June 30, 2024, after market close on Thursday, August 8, 2024. Charlotte&#39;s Web Holdings, Inc. (TSX: CWEB) (OTCQX: CWBHF) will report its 2024 second-quarter results prior to the market opening on August 8, 2024. A conference call to review the results is scheduled for the same day at 11:00 am Easter Time. 

Canopy Growth And Other Hot Cannabis Stocks Will Soon Report Earnings, What Investors Need To Know Now

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The recent announcement that President Joe Biden dropping out of the 2024 election campaign has stirred significant reactions across various sectors, including cannabis. Pablo Zuanic, senior analyst at Zuanic &amp; Associates, outlines the implications for the cannabis industry in his recent report.

Harris Vs. Trump: Will Cannabis Rescheduling Survive Biden&#39;s Exit? Analyst On Potential GOP Victory

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The cannabis sector witnessed significant movement today, with varied performances across key stocks and ETFs following President Joe Biden’s Sunday announcement that he will not seek re-election.

Cannabis Stocks React To Biden Announcement: Monday&#39;s Closing Market Moves

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Canopy Growth Corporation (TSX:<a class="ticker" href="https://www.benzinga.com/stock/WEED#TSX">WEED</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) will release its financial results for the first quarter of fiscal year 2025 ended June 30, 2024, before financial markets open&nbsp;on August 9, 2024.
An audio webcast with David Klein, CEO and Judy Hong, CFO  will take place on August 9, at 10 am ET.
<h2 class="wp-block-heading">Canopy&#8217;s European Expansion</h2>
Canopy has been ramping up its presence in the Czech Republic as the country's officials are considering a fully legal commercial adult-use <a href="https://www.benzinga.com/markets/cannabis/24/07/39773667/leaked-documents-czech-republic-plans-to-set-up-legal-recreational-cannabis-market">cannabis market as part of its ‘Cannabis Management Act.&#8217;</a> Its medical brand is servicing other European markets like <a href="https://www.benzinga.com/markets/cannabis/24/07/39773667/leaked-documents-czech-republic-plans-to-set-up-legal-recreational-cannabis-market">Poland</a> and Germany as well, as well as Asia-Pacific markets, including <a href="https://www.benzinga.com/markets/cannabis/23/10/35162207/canopy-growth-shares-up-slightly-in-pre-market-trading-on-eu-gmp-certification-news">Australia and New Zealand.</a> That said, Canopy's International markets cannabis net revenue increased 32% year-over-year to CA$12 million in the <a href="https://www.benzinga.com/markets/cannabis/24/05/39085695/canopy-growth-reports-7-yoy-increase-in-q4-net-revenue-continues-focus-on-innovation-in-canada-a">fourth quarter driven by growth in Germany and Poland.</a>
On the heels of reporting its fourth quarter results for the fiscal year that ended March 31, 2024, Canopy CEO David Klein said the company will seize positive cannabis regulatory shifts in Germany and the United States, Klein added. &#8220;Entering FY2025, Canopy has growing businesses in the world's most attractive cannabis markets, a leading portfolio of high-impact brands, and a rapidly developing U.S. ecosystem."
In early June, Canopy said it has established an at-the-market equity program under which it can issue and sell up to $250 million worth of its common shares from treasury from time to time in concurrent <a href="https://www.benzinga.com/markets/cannabis/24/06/39207292/canopy-growth-announces-250m-at-the-market-equity-program">public offerings in the United States and Canada.</a> The announcement has generated significant buzz within the cannabis industry, as highlighted by Benzinga's <a href="https://www.benzinga.com/author/javier-hasse">Javier Hasse</a> at the time.
"We're pleased to announce this offering, which further enhances Canopy's financial flexibility and balance sheet," Judy Hong,&nbsp;Canopy Growth&#8217;s CFO told Benzinga Cannabis <a href="https://www.benzinga.com/markets/cannabis/24/06/39233003/exclusive-canopy-growth-cfo-on-atm-equity-offering-we-have-one-of-the-strongest-balance-sheets-i">exclusively</a>. "Having already reduced our debt by more than $1.1 billion over the past 18 months, and with no material debt maturing until 2026, Canopy has one of the strongest balance sheets among major cannabis companies."
According to <a href="https://www.benzinga.com/topic/viridian-capital-advisors">Viridian Valuation Tracker</a>'s report in June on Canadian cultivation and retail companies with market caps over $100 million market Canopy is the best performer in the group based on its year-to-date stock performance.
Why? Canopy&#8217;s better performance is <a href="https://dealtracker.viridianca.com/valuation-tracker-by-industry-sector/">attributed</a> to its acquisition of U.S. plant-touching <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39237411/how-these-2-nasdaq-listed-marijuana-companies-found-a-way-to-raise-250m-without-tan">companies into Canopy USA</a>.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/06/39166300/canopy-growth-doubles-down-on-its-usa-strategy-announces-exercise-of-acreage-options">Canopy Growth Doubles Down On Its USA Strategy, Announces Exercise of Acreage Options</a>
CGC shares traded 2.65% higher $7.35 per share at the time of writing on Friday morning.
<h3 class="wp-block-heading">Earnings Calendar For Upcoming Releases</h3>
Weedmaps
<ul>
<li>WM Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAPS#NASDAQ">MAPS</a>) &#8211; also known as Weedmaps &#8211; a leading marketplace and technology solutions provider to the cannabis industry, today announced it will report financial results for its second quarter ended June 30, 2024, after market close on Thursday, August 8, 2024. </li>
<li>Last week, the company reported sales declined by 4.5% year-over-year and quarter-over-quarter in&nbsp;the first quarter of fiscal 2024.&nbsp;According to senior analyst Pablo Zuanic fromZuanic &amp; Associates,&nbsp;MAPS management did not provide FY 2024 guidance but expects stable sales for the second quarter while anticipating EBITDA of around $7 million, down from $9 to $11 million due to increased marketing spend. </li>
<li>Additionally, the recent legalization of <a href="https://www.benzinga.com/topic/ohio-cannabis">recreational cannabis in Ohio</a> is expected to drive growth in <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39850838/is-a-1500-increase-possible-the-bull-case-for-this-cannabis-tech-stock-explained">the second half of 2024</a>. On Thursday, the online cannabis marketplace, announced a partnership with NuggMD, to streamline the medical cannabis education and application process for <a href="https://www.benzinga.com/markets/cannabis/24/07/39959663/weedmaps-and-nuggmd-partner-to-launch-medical-cannabis-education-and-application-program">patients through a new pilot program.</a></li>
</ul>
Charlotte&#8217;s Web
<ul>
<li>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>) will report its 2024 second-quarter results prior to the market opening on August 8, 2024. A conference call to review the results is scheduled for the same day at 11:00 am Eastern Time.&nbsp;</li>
<li>The Colorado-based hemp extract wellness producer faced a challenging first quarter, <a href="https://www.benzinga.com/markets/cannabis/24/05/38705530/cbd-focused-charlottes-web-revenue-drops-29-in-q1-amid-strategic-adjustments">reporting a 29% decline in revenue to $12.1 million from $17 million in the same period of fiscal 2023.</a>&nbsp;&nbsp;&nbsp;&nbsp;</li>
</ul>
Cronos Group
<ul>
<li>Cronos Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRON#NASDAQ">CRON</a>) (TSX:<a class="ticker" href="https://www.benzinga.com/stock/CRON#TSX">CRON</a>) will hold its 2024 second-quarter earnings conference call on Thursday, August 8, 2024, at 8:30 am Eastern Time. </li>
<li>The company&#8217;s net revenue surged 30% year-over-year, <a href="https://www.benzinga.com/markets/cannabis/24/05/38739086/cronos-cannabis-company-slashes-losses-reports-highest-quarterly-net-revenue-in-q1-2024">reaching</a> $25.3 million in the first quarter reported in May and driven primarily by <a href="https://www.benzinga.com/topic/canada-cannabis">sales in Canada and Israel.</a> </li>
<li>Subsequent to the quarter end, the company announced the expansion of Cronos Growing Company, a cannabis cultivation business of which the Toronto-based company owns 50%. The investment will be funded by a roughly $51 million (CA$70 million) secured non-revolving credit facility provided by Cronos. It will assist GrowCo&#8217;s expansion of its purpose-built cannabis facility in Leamington, Ontario, that will produce high-quality cannabis flower, the <a href="https://www.benzinga.com/markets/cannabis/24/06/39418098/cronos-cannabis-co-will-provide-51m-to-growco-toward-facility-expansion-fund">company said at the time</a>.</li>
</ul>
TILT Holdings
<ul>
<li>TILT Holdings Inc. (Cboe: TILT) (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/TLLTF#OTCQB">TLLTF</a>) will host a second-quarter earnings conference call on Friday, August 9, 2024, at 8:30 am Eastern Time. </li>
<li>The company said earlier first-quarter 2024 results revealed disruptions in the vape hardware segment, which accounted for 71% of the company&#8217;s sales in 2023. Despite these challenges, the custom <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38995545/tilt-holdings-cannabis-sales-steady-despite-supply-disruptions-are-debt-and-stock-d">business remained robust,</a> with the company seeing growth opportunities in hemp-derived vapes, remaining the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/10/35228569/whos-who-among-cannabis-hardware-vaping-suppliers-zuanic-associates-take-a-deep-div">largest CCELL distributor in the U.S.</a></li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/07/39797090/when-is-cannabis-giant-tilray-reporting-earnings-and-what-should-investors-expect">When Is Cannabis Giant Tilray Reporting Earnings And What Should Investors Expect?</a></li>
</ul>
Learn more about leading cannabis companies and stocks at&nbsp;the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9. <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">Get your tickets now</a> before prices surge by following <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">this link</a>.

<h3>GAINERS:</h3>
<ul>
<li><a href="https://www.benzinga.com/quote/GBHPF">Global Hemp Group</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GBHPF#OTC">GBHPF</a>) shares closed up 117.39% at $0.04</li>
<li><a href="https://www.benzinga.com/quote/LVRLF">CordovaCann</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LVRLF#OTC">LVRLF</a>) shares closed up 19.90% at $0.06</li>
<li><a href="https://www.benzinga.com/quote/SOLCF">SOL Glb Inv</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SOLCF#OTC">SOLCF</a>) shares closed up 19.40% at $0.06</li>
<li><a href="https://www.benzinga.com/quote/TGIFF">1933 Industries</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TGIFF#OTC">TGIFF</a>) shares closed up 11.81% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/FUAPF">Global Compliance</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FUAPF#OTC">FUAPF</a>) shares closed up 10.37% at $0.00</li>
<li><a href="https://www.benzinga.com/quote/CLSH">CLS Holdings USA</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CLSH#OTC">CLSH</a>) shares closed up 6.01% at $0.04</li>
<li><a href="https://www.benzinga.com/quote/XXII">22nd Century Group</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XXII#NASDAQ">XXII</a>) shares closed up 4.77% at $0.72</li>
<li><a href="https://www.benzinga.com/quote/NWVCF">EnWave</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NWVCF#OTC">NWVCF</a>) shares closed up 4.53% at $0.17</li>
<li><a href="https://www.benzinga.com/quote/PMD">Psychemedics</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PMD#NASDAQ">PMD</a>) shares closed up 3.52% at $2.24</li>
<li><a href="https://www.benzinga.com/quote/YCBD">cbdMD</a> (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/YCBD#AMEX">YCBD</a>) shares closed up 3.11% at $0.63</li>
</ul>
<h3>LOSERS:</h3>
<ul>
<li><a href="https://www.benzinga.com/quote/GGBXF">Green Growth Brands</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GGBXF#OTC">GGBXF</a>) shares closed down 99.00% at $1e-06</li>
<li><a href="https://www.benzinga.com/quote/LBUY">Leafbuyer Techs</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LBUY#OTC">LBUY</a>) shares closed down 96.33% at $0.0009</li>
<li><a href="https://www.benzinga.com/quote/RSSFF">Affinor Growers</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RSSFF#OTC">RSSFF</a>) shares closed down 26.87% at $0.06</li>
<li><a href="https://www.benzinga.com/quote/HERTF">Heritage Cannabis Holding</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HERTF#OTC">HERTF</a>) shares closed down 24.62% at $0.00</li>
<li><a href="https://www.benzinga.com/quote/RMHB">Rocky Mountain High</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RMHB#OTC">RMHB</a>) shares closed down 23.33% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/CNTMF">Cansortium</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CNTMF#OTC">CNTMF</a>) shares closed down 17.73% at $0.12</li>
<li><a href="https://www.benzinga.com/quote/CNPOF">RIV Capital</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CNPOF#OTC">CNPOF</a>) shares closed down 16.67% at $0.08</li>
<li><a href="https://www.benzinga.com/quote/FFNTF">4Front Ventures</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FFNTF#OTC">FFNTF</a>) shares closed down 14.99% at $0.09</li>
<li><a href="https://www.benzinga.com/quote/CGC">Canopy Gwth</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) shares closed down 10.73% at $7.32</li>
<li><a href="https://www.benzinga.com/quote/CXXIF">C21 Investments</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CXXIF#OTC">CXXIF</a>) shares closed down 9.62% at $0.25</li>
<li><a href="https://www.benzinga.com/quote/BLOZF">Cannabix Technologies</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BLOZF#OTC">BLOZF</a>) shares closed down 7.89% at $0.35</li>
<li><a href="https://www.benzinga.com/quote/BLGVF">Belgravia Hartford Cap</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BLGVF#OTC">BLGVF</a>) shares closed down 6.50% at $0.02</li>
<li><a href="https://www.benzinga.com/quote/GRWG">GrowGeneration</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRWG#NASDAQ">GRWG</a>) shares closed down 6.30% at $2.38</li>
<li><a href="https://www.benzinga.com/quote/ZDPY">Zoned Props</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ZDPY#OTC">ZDPY</a>) shares closed down 6.15% at $0.61</li>
<li><a href="https://www.benzinga.com/quote/CNBX">CNBX Pharmaceuticals</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CNBX#OTC">CNBX</a>) shares closed down 6.00% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/CRLBF">Cresco Labs</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CRLBF#OTC">CRLBF</a>) shares closed down 5.44% at $1.64</li>
<li><a href="https://www.benzinga.com/quote/CURLF">Curaleaf Holdings</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTC">CURLF</a>) shares closed down 5.43% at $4.09</li>
<li><a href="https://www.benzinga.com/quote/CARA">Cara Therapeutics</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CARA#NASDAQ">CARA</a>) shares closed down 5.42% at $0.37</li>
<li><a href="https://www.benzinga.com/quote/ACB">Aurora Cannabis</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACB#NASDAQ">ACB</a>) shares closed down 5.38% at $5.76</li>
<li><a href="https://www.benzinga.com/quote/TCNNF">Trulieve Cannabis</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>) shares closed down 5.06% at $10.41</li>
<li><a href="https://www.benzinga.com/quote/ITHUF">iAnthus Capital Hldgs</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ITHUF#OTC">ITHUF</a>) shares closed down 5.06% at $0.02</li>
<li><a href="https://www.benzinga.com/quote/TLRY">Tilray Brands</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) shares closed down 4.76% at $1.79</li>
<li><a href="https://www.benzinga.com/quote/CRON">Cronos Group</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRON#NASDAQ">CRON</a>) shares closed down 4.42% at $2.37</li>
<li><a href="https://www.benzinga.com/quote/BMMJ">Body and Mind</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMMJ#OTC">BMMJ</a>) shares closed down 4.26% at $0.03</li>
<li><a href="https://www.benzinga.com/quote/SMG">Scotts Miracle Gro</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMG#NYSE">SMG</a>) shares closed down 3.13% at $66.64</li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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LEAFBUYER TECHNOLOGIES by Leafbuyer Technologies, Inc.

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Cannabis Stock Gainers And Losers From July 24, 2024

The recent announcement that&nbsp;President Joe Biden dropping out of the 2024 election campaign has stirred significant reactions across various sectors, including cannabis. Pablo Zuanic, senior analyst at Zuanic &amp; Associates, outlines the implications for the cannabis industry in his recent report.
<h3>Market Reaction And Political Context</h3>
Zuanic notes that the news of Biden stepping down has been perceived <a href="https://www.benzinga.com/markets/cannabis/24/07/39895214/cannabis-stocks-react-to-biden-announcement-mondays-closing-market-moves">positively for&nbsp;cannabis stocks</a>. With Vice President Kamala Harris now more likely to face Donald Trump in the election, the market has responded optimistically.
Notable movements include Canopy Growth Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cgc#NASDAQ">CGC</a>) increasing by 17%, several large producers (LPs) rising by 9%, and the AdvisorShares Pure US Cannabis ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/arca#NYSE">ARCA</a>) gaining 5.7%.
According to Zuanic, Harris has a better chance than Biden of defeating Trump in November, which could drive higher turnout for Democrats and reduce the likelihood of a Republican sweep. &quot;A Harris vs. Trump election will likely bring cannabis more to the forefront of the overall<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39344068/not-dc-but-the-states-tim-seymour-discusses-how-red-states-could-catalyze-cannabis-"> political debate</a>,&quot; Zuanic says.
He cautions that this heightened focus could make cannabis a more <a href="https://www.benzinga.com/markets/cannabis/24/07/39781066/libertarians-back-florida-cannabis-legalization-5m-from-hemp-execs-to-gop-green-waves-in-red-sta">partisan issue</a>, increasing risks if Trump were to win.
&ldquo;Those who only wish for Trump to say &#39;leave it to the states&#39;&nbsp;forget that would only mean status quo but no rescheduling,&rdquo; Zuanic notes.
<h3>Rescheduling And Regulatory Implications</h3>
Zuanic emphasizes the narrowing path to cannabis rescheduling despite these developments.
He outlines several potential scenarios, from the Department of Justice (DOJ) deciding hearings are unnecessary and publishing the final rule soon, to prolonged delays due to administrative law judge (ALJ) reports and DEA involvement. &quot;Yes, a final rule published before 12/21/24 is possible, but the roadblocks are mounting.&quot;&nbsp;
Zuanic suggests that the Biden administration will prioritize completing the <a href="https://www.benzinga.com/markets/cannabis/24/06/39561566/will-bidens-shaky-debate-performance-affect-cannabis-reform-how-a-trump-return-could-reshape-mar">rescheduling process before Inauguration Day</a>. However, he raises concerns about the DEA potentially delaying the process. &quot;We believe the DOJ and White House will have some decisions to make, with the DEA&#39;s response to public comments being a significant factor.&quot;&nbsp;
The Congressional Review Act could reverse the ruling if Trump secures a majority in both chambers. If not, Zuanic says he would need to start a new rescheduling process &ldquo;from 3 to 1,&rdquo;&nbsp;&nbsp;which could take at least two years.
<h3>Future Scenarios And Market Sentiment</h3>
In the event of a Trump victory, Zuanic outlines possible actions, such as reversing rescheduling through the Congressional Review Act or initiating a new process to revert cannabis scheduling. &quot;If the final rule has not been implemented before 1/20/25, we are doubtful his administration would continue the process,&quot; Zuanic adds.
Zuanic concludes that for cannabis stocks, a Harris victory is crucial. &quot;In our view, Trump voters owning cannabis stocks are in denial. Harris would at least finish rescheduling and likely push forward other reform initiatives around cannabis,&quot; he said.
Read Next:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39369432/what-is-the-trump-factor-justice-depts-impact-on-cannabis-rescheduling-stocks-and-i">What Is The Trump Factor? Justice Dept&#39;s Impact On Cannabis Rescheduling, Stocks And Investments</a>
These issues will be among the hot topics at the upcoming Benzinga Cannabis Capital Conference in Chicago this Oct. 8-9. Join us to get more insight into what the wave of weed legalization means for the future of investing in the&nbsp;industry. Hear directly from top executives, investors, advocates, and policymakers.&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" rel="noreferrer noopener" target="_blank">Get your tickets now</a>&nbsp;before prices go up by following&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" rel="noreferrer noopener" target="_blank">this link</a>.
Photo:&nbsp;U.S. Senator Kamala Harris speaking with attendees at the 2019 Iowa Democratic Wing Ding at Surf Ballroom in Clear Lake, Iowa. By Gage Skidmore via WikiCommons - CC.&nbsp;

Harris Vs. Trump: Will Cannabis Rescheduling Survive Biden's Exit? Analyst On Potential GOP Victory

The cannabis sector witnessed significant movement&nbsp;today, with varied performances across key stocks and ETFs following<a href="https://www.benzinga.com/markets/cannabis/24/07/39874209/joe-biden-drops-out-what-would-happen-with-cannabis-legalization-under-kamala-harris-or-donald-t"> President Joe Biden&rsquo;s Sunday&nbsp;announcement</a> that he will not seek re-election. The news&nbsp;created ripples in the market, reflecting investor sentiment and speculation about future <a href="https://www.benzinga.com/markets/cannabis/24/07/39866755/trump-accepts-gop-nomination-as-party-begins-to-embrace-cannabis-legalization-says-republican-co">regulatory changes</a>.
<h3>Biggest Winners</h3>
<ul>
<li>Aurora Cannabis (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acb#NASDAQ">ACB</a>): Increased by 9.04% to $6.02. Positive sentiment is driven by strategic partnerships.</li>
<li>Village Farms International (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vff#NASDAQ">VFF</a>): Rose by 7.41% to $1.09. The stock benefited from operational efficiency news.</li>
<li>Tilray Brands (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tlry#NASDAQ">TLRY</a>): Saw a rise of 6.70% to $1.87. Investor optimism on future growth prospects in Germany.</li>
<li>SNDL (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sndl#NASDAQ">SNDL</a>): Experienced an increase of 9.66% to $2.22. Strong earnings and cash flow, reports boosted the stock.</li>
<li>Medicine Man Technologies (OTC: <a class="ticker" href="https://www.benzinga.com/stock/shwz#OTC">SHWZ</a>): Saw a remarkable gain of 100.00% to $0.30.</li>
<li>OrganiGram Holdings (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ogi#NASDAQ">OGI</a>): Rose by 6.67% to $1.74.</li>
<li>Innovative Industrial Properties (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/iipr#NASDAQ">IIPR</a>): Gained 1.56% to $120.13. Stable financial performance attracted investors.</li>
<li>Cronos Group (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cron#NASDAQ">CRON</a>): Increased by 3.78% to $2.45.</li>
<li>Canopy Growth (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cgc#NASDAQ">CGC</a>): Increased by 16.7% to $7.84.</li>
</ul>
<h3>Multi-State Cannabis Operators In The USA</h3>
<ul>
<li>Curaleaf Holdings (OTC: <a class="ticker" href="https://www.benzinga.com/stock/curlf#OTC">CURLF</a>): Increased by 3.13% to $4.28.</li>
<li>Jushi Holdings (OTC: <a class="ticker" href="https://www.benzinga.com/stock/jushf#OTC">JUSHF</a>): Up by 7.27% to $0.59.</li>
<li>Green Thumb Industries (OTC: <a class="ticker" href="https://www.benzinga.com/stock/gtbif#OTC">GTBIF</a>): Was up by 4.04% to $11.60.</li>
<li>Trulieve Cannabis (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tcnnf#OTC">TCNNF</a>): Was also up, at the last minute, by 3.78% to $10.75.</li>
<li>Cresco Labs (OTC: <a class="ticker" href="https://www.benzinga.com/stock/crlbf#OTC">CRLBF</a>): Rose by 6.42% to $1.74.</li>
</ul>
<h3>Performance Of Cannabis ETFs</h3>
<ul>
<li>AdvisorShares Pure Cannabis ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/yolo#NYSE">YOLO</a>): Rose by 4.84% to $3.58.</li>
<li>AdvisorShares Pure US Cannabis ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/msos#NYSE">MSOS</a>): Experienced a gain of 5.67% to $7.83. Increased activity and positive sentiment drove the ETF higher.</li>
</ul>
Read Next:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39369432/what-is-the-trump-factor-justice-depts-impact-on-cannabis-rescheduling-stocks-and-i">What Is The Trump Factor? Justice Dept&#39;s Impact On Cannabis Rescheduling, Stocks And Investments</a>
These issues will be among the hot topics at the upcoming Benzinga Cannabis Capital Conference in Chicago this Oct. 8-9. Join us to get more insight into what the wave of weed legalization means for the future of investing in the&nbsp;industry. Hear directly from top executives, investors, advocates, and policymakers.&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" rel="noreferrer noopener" target="_blank">Get your tickets now</a>&nbsp;before prices go up by following&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" rel="noreferrer noopener" target="_blank">this link</a>.
Photo: AI-Generated Image.&nbsp;
Disclosure: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Cannabis Stocks React To Biden Announcement: Monday's Closing Market Moves

<h3>GAINERS:</h3>
<ul>
<li><a href="https://www.benzinga.com/quote/LBUY">Leafbuyer Techs</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LBUY#OTC">LBUY</a>) shares closed up 3900.00% at $0.02</li>
<li><a href="https://www.benzinga.com/quote/HERTF">Heritage Cannabis Holding</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HERTF#OTC">HERTF</a>) shares closed up 125.00% at $0.00</li>
<li><a href="https://www.benzinga.com/quote/ACNNF">AusCann Group Holdings</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ACNNF#OTC">ACNNF</a>) shares closed up 50.00% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/CNGGF">Cann Gr</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CNGGF#OTC">CNGGF</a>) shares closed up 37.50% at $0.02</li>
<li><a href="https://www.benzinga.com/quote/CBDY">Target Group</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CBDY#OTC">CBDY</a>) shares closed up 30.59% at $0.00</li>
<li><a href="https://www.benzinga.com/quote/CGC">Canopy Gwth</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) shares closed up 17.25% at $8.35</li>
<li><a href="https://www.benzinga.com/quote/CNPOF">RIV Capital</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CNPOF#OTC">CNPOF</a>) shares closed up 13.33% at $0.10</li>
<li><a href="https://www.benzinga.com/quote/GRWG">GrowGeneration</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRWG#NASDAQ">GRWG</a>) shares closed up 13.03% at $2.66</li>
<li><a href="https://www.benzinga.com/quote/CBWTF">Auxly Cannabis Group</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CBWTF#OTC">CBWTF</a>) shares closed up 12.60% at $0.03</li>
<li><a href="https://www.benzinga.com/quote/SNDL">SNDL</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNDL#NASDAQ">SNDL</a>) shares closed up 9.66% at $2.27</li>
<li><a href="https://www.benzinga.com/quote/ACB">Aurora Cannabis</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACB#NASDAQ">ACB</a>) shares closed up 8.87% at $6.25</li>
<li><a href="https://www.benzinga.com/quote/VFF">Village Farms Intl</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFF#NASDAQ">VFF</a>) shares closed up 8.33% at $1.17</li>
<li><a href="https://www.benzinga.com/quote/CXXIF">C21 Investments</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CXXIF#OTC">CXXIF</a>) shares closed up 8.20% at $0.26</li>
<li><a href="https://www.benzinga.com/quote/OGI">OrganiGram Holdings</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OGI#NASDAQ">OGI</a>) shares closed up 7.88% at $1.77</li>
<li><a href="https://www.benzinga.com/quote/UGRO">Urban-gro</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UGRO#NASDAQ">UGRO</a>) shares closed up 7.38% at $1.54</li>
<li><a href="https://www.benzinga.com/quote/GTBIF">Green Thumb Industries</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTC">GTBIF</a>) shares closed up 7.26% at $11.60</li>
<li><a href="https://www.benzinga.com/quote/BMMJ">Body and Mind</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMMJ#OTC">BMMJ</a>) shares closed up 7.21% at $0.03</li>
<li><a href="https://www.benzinga.com/quote/TLRY">Tilray Brands</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) shares closed up 6.70% at $1.92</li>
<li><a href="https://www.benzinga.com/quote/CRLBF">Cresco Labs</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CRLBF#OTC">CRLBF</a>) shares closed up 5.20% at $1.74</li>
<li><a href="https://www.benzinga.com/quote/GENE">Genetic Technologies</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GENE#NASDAQ">GENE</a>) shares closed up 4.35% at $0.78</li>
<li><a href="https://www.benzinga.com/quote/CRON">Cronos Group</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRON#NASDAQ">CRON</a>) shares closed up 4.20% at $2.49</li>
<li><a href="https://www.benzinga.com/quote/CPHRF">Cipher Pharmaceuticals</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CPHRF#OTC">CPHRF</a>) shares closed up 3.65% at $6.67</li>
<li><a href="https://www.benzinga.com/quote/CNBX">CNBX Pharmaceuticals</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CNBX#OTC">CNBX</a>) shares closed up 3.45% at $0.01</li>
</ul>
<h3>LOSERS:</h3>
<ul>
<li><a href="https://www.benzinga.com/quote/LMLLF">Pharmadrug</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LMLLF#OTC">LMLLF</a>) shares closed down 31.25% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/TGIFF">1933 Industries</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TGIFF#OTC">TGIFF</a>) shares closed down 18.09% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/XXII">22nd Century Group</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XXII#NASDAQ">XXII</a>) shares closed down 9.87% at $0.74</li>
<li><a href="https://www.benzinga.com/quote/ITHUF">iAnthus Capital Hldgs</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ITHUF#OTC">ITHUF</a>) shares closed down 9.47% at $0.02</li>
<li><a href="https://www.benzinga.com/quote/CWBHF">Charlottes Web Holdings</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CWBHF#OTC">CWBHF</a>) shares closed down 9.09% at $0.17</li>
<li><a href="https://www.benzinga.com/quote/CNTMF">Cansortium</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CNTMF#OTC">CNTMF</a>) shares closed down 6.00% at $0.14</li>
<li><a href="https://www.benzinga.com/quote/CLSH">CLS Holdings USA</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CLSH#OTC">CLSH</a>) shares closed down 5.89% at $0.04</li>
<li><a href="https://www.benzinga.com/quote/MXC">Mexco Energy</a> (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/MXC#AMEX">MXC</a>) shares closed down 5.53% at $11.00</li>
<li><a href="https://www.benzinga.com/quote/BLOZF">Cannabix Technologies</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BLOZF#OTC">BLOZF</a>) shares closed down 5.20% at $0.41</li>
<li><a href="https://www.benzinga.com/quote/FFNTF">4Front Ventures</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FFNTF#OTC">FFNTF</a>) shares closed down 3.30% at $0.10</li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ACNNF

CBDY

CANNABIS WHEATON INCOME by Cannabis Wheaton Income Corp.

CBWTF

CNGGF

CPHRF

GENE

LMLLF

UGRO

Marijuana Stock Movers For July 22, 2024

Canopy Growth Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) shares are trading higher Monday. Cannabis stocks have gained recently as optimism regarding potential federal policy changes grows.  Investors also assess Biden&#8217;s announcement that he will exit <a href="https://www.benzinga.com/markets/cannabis/24/07/39874209/joe-biden-drops-out-what-would-happen-with-cannabis-legalization-under-kamala-harris-or-donald-t">the 2024 presidential race.</a> 
The Details:
Optimism is growing among cannabis investors following a series of political developments in the United States. Mostly recently, President Joe Biden suspended his campaign and endorsed Vice President Kamala Harris as the Democratic Presidential candidate on Sunday.&nbsp;
Investors may be encouraged by the prospect of a Kamala Harris Presidential candidacy as she has been an <a href="https://www.politico.com/news/2024/03/15/vice-president-to-hold-cannabis-roundtable-00146564">outspoken proponent</a> of the decriminalization of marijuana. Harris called the current classification of marijuana under federal law "absurd" during a White House event in March and said she is looking forward to seeing the Drug Enforcement Administration&#8217;s decision about moving it to a different category.&nbsp;
Read Next: <a href="https://www.benzinga.com/news/24/07/39860370/serve-robotics-stock-rises-after-nvidia-discloses-10-stake">Serve Robotics Stock Rises After Nvidia Discloses 10% Stake</a>
Canopy Growth shares also rose <a href="https://www.benzinga.com/markets/cannabis/24/07/39805320/what-happened-with-canopy-growth-stock-today">last week </a>following the selection of Sen. J.D. Vance (R-Ohio) as Donald Trump's Vice-Presidential running-mate.&nbsp;
According to a Marijuana Moment<a href="https://www.marijuanamoment.net/where-trumps-vice-presidential-running-mate-j-d-vance-stands-on-marijuana/"> report</a>, Vance believes states should set their own cannabis laws. He's also suggested that he&#8217;s against incarcerating individuals for low-level possession.
According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Canopy Growth shares are trading about even with the stock&#8217;s 50-day moving average of $7.81, and the company will report its first-quarter results in early August.&nbsp;
<h2 class="wp-block-heading">Should I Sell My CGC Stock?</h2>
When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.
Shares of Canopy Growth have increased by 99.01% in the past year. An investor who bought shares of Canopy Growth at the beginning of the year would make a profit of $3.07 per share if they sold it today. The stock has risen 12.37% over the past month, meaning an investor who bought shares on June 1 would see a capital loss of $0.16.
Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Canopy Growth stock currently has an RSI of 69.09, indicating neutral conditions.
For access to advanced charting and analysis tools and stock data, check out <a href="https://pro.benzinga.com/">Benzinga PRO. Try it for free.</a> 
CGC Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Canopy Growth shares are up 11.1% at $7.92 at the time of publication Monday.
Read Also:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39865576/whats-going-on-with-rivian-stock">What&#8217;s Going On With Rivian Stock?</a></li>
</ul>
Image: Pixabay

What's Going On With Canopy Growth Stock?

President Joe Biden&#39;s<a href="https://www.benzinga.com/markets/cannabis/24/07/39874209/joe-biden-drops-out-what-would-happen-with-cannabis-legalization-under-kamala-harris-or-donald-t"> announcement</a> that he will not seek re-election has impacted the cannabis stock market. The sector&#39;s reaction varied, reflecting investor sentiment and market speculation about future regulatory changes under a potential new administration. This analysis, derived from <a href="https://pro.benzinga.com/">Benzinga Pro data</a>, highlights the key movements among popular cannabis stocks 24 hours after the announcement.
<h3>Biggest Losers</h3>
Several cannabis stocks faced a downturn following the announcement. Curaleaf Holdings (OTC: <a class="ticker" href="https://www.benzinga.com/stock/curlf#OTC">CURLF</a>) decreased by 1.3986% to $4.23. Jushi Holdings (OTC: <a class="ticker" href="https://www.benzinga.com/stock/jushf#OTC">JUSHF</a>) dropped by 5.0847%, reaching $0.56. Green Thumb Industries (OTC: <a class="ticker" href="https://www.benzinga.com/stock/gtbif#OTC">GTBIF</a>) fell by 2.3444% to $11.455. Trulieve Cannabis (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tcnnf#OTC">TCNNF</a>) decreased by 1.1508% to $10.6. Cresco Labs (OTC: <a class="ticker" href="https://www.benzinga.com/stock/crlbf#OTC">CRLBF</a>) dropped by 1.7341%, reaching $1.7.
<h3>Biggest Winners</h3>
Conversely, ohter cannabis stocks saw gains following the announcement. Aurora Cannabis (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acb#NASDAQ">ACB</a>) increased by 4.6957%, reaching $6.02. Village Farms International (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vff#NASDAQ">VFF</a>) increased by 0.9259%, reaching $1.09. Tilray Brands (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tlry#NASDAQ">TLRY</a>) rose by 4.3575%, reaching $1.868.SNDL (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sndl#NASDAQ">SNDL</a>) saw an increase of 7.1836%, reaching $2.2187.
Medicine Man Technologies (OTC: <a class="ticker" href="https://www.benzinga.com/stock/shwz#OTC">SHWZ</a>) experienced a gain of 100.0%, reaching $0.3. OrganiGram Holdings (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ogi#NASDAQ">OGI</a>) rose by 5.1515%, reaching $1.735.
Innovative Industrial Properties (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/iipr#NASDAQ">IIPR</a>) gained 1.5641%, reaching $120.13. Cronos Group (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cron#NASDAQ">CRON</a>) increased by 2.7311%, reaching $2.445. Canopy Growth (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cgc#NASDAQ">CGC</a>) increased by 9.9593%, reaching $7.8401.&nbsp;
Read Also:<a href="https://www.benzinga.com/markets/cannabis/24/06/39561566/will-bidens-shaky-debate-performance-affect-cannabis-reform-how-a-trump-return-could-reshape-mar">&nbsp;Will Biden&#39;s Shaky Debate Performance Affect Cannabis Reform? How A Trump Return Could Reshape Marijuana Policy</a>
<h3>Performance Of Cannabis ETFs</h3>
Cannabis ETFs mirrored the overall market&#39;s mixed sentiment. AdvisorShares Pure Cannabis ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/yolo#NYSE">YOLO</a>) rose by 2.0528%, reaching $3.48. AdvisorShares Pure US Cannabis ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/msos#NYSE">MSOS</a>) experienced a gain of 3.9811%, reaching $7.705.
These ETFs remain a barometer for broader market trends within the cannabis sector, indicating cautious optimism among ETF investors.
The trading volumes for these ETFs also showed increased activity, with YOLO trading 15,157 shares and MSOS trading 4,576,010 shares in the last 24 hours.&nbsp;
<img alt="last_24hrs_7_22.jpg" src="https://www.benzinga.com/files/u503488/last_24hrs_7_22.jpg" style="height:293px; width:633px" />
<pre>
*Based on data from <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 
Read Next: </pre><ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/07/39866755/trump-accepts-gop-nomination-as-party-begins-to-embrace-cannabis-legalization-says-republican-co">Trump Accepts GOP Nomination As Party Begins To Embrace Cannabis Legalization, Says Republican Consultant</a></li>
<li>And:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39369432/what-is-the-trump-factor-justice-depts-impact-on-cannabis-rescheduling-stocks-and-i">What Is The Trump Factor? Justice Dept&#39;s Impact On Cannabis Rescheduling, Stocks And Investments</a>​​​​​​​</li>
</ul>
These issues will be among the hot topics at the upcoming Benzinga Cannabis Capital Conference in Chicago this Oct. 8-9. Join us to get more insight into what the wave of weed legalization means for the future of investing in the&nbsp;industry. Hear directly from top executives, investors, advocates, and policymakers.&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" rel="noreferrer noopener" target="_blank">Get your tickets now</a>&nbsp;before prices go up by following&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" rel="noreferrer noopener" target="_blank">this link</a>.
Photo: AI-Generated Image.&nbsp;

Management

Exclusives

Trading Ideas

Cannabis Stocks Surge Then Plummet On News That Biden Is Bowing Out Of 2024 Presidential Race

Shares of CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) fell sharply during Monday&#8217;s session. Guggenheim analyst John Difucci downgraded the stock from Buy to Neutral, while BTIG analyst Gray Powell downgraded the stock from <a href="https://www.benzinga.com/news/24/07/39886199/crowdstrike-faces-downgrades-amid-concerns-over-pricing-and-renewals-following-disruption">Buy to Neutral</a>.
CrowdStrike shares dipped over 11% on Friday after the company suffered a major outage impacting businesses around the world.
Selective Insurance Group shares dipped 13.2% to $264.65 on Friday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>MIRA Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MIRA#NASDAQ">MIRA</a>) shares climbed 148% to $1.98 after the company announced new preclinical study results for its novel oral ketamine analog, Ketamir-2.</li>
<li>CareMax, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMAX#NASDAQ">CMAX</a>) gained 135% to $3.72.</li>
<li>Tellurian Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TELL#NASDAQ">TELL</a>) jumped 64.5% to $0.9401 after the company announced it will be acquired by Woodside Energy for approximately $900 million.</li>
<li>Serve Robotics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SERV#NASDAQ">SERV</a>) shares climbed 46.6% to $11.08 after Nvidia last week disclosed a stake in the company.</li>
<li>Cassava Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAVA#NASDAQ">SAVA</a>) rose 27.2% to $12.82 after the company announced its first Phase 3 trial is expected to conclude by December and its second Phase 3 trial is expected to conclude by June 2025.</li>
<li>MEI Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEIP#NASDAQ">MEIP</a>) surged 24% to $3.55 after the company announced it is considering strategic alternatives.</li>
<li>Society Pass Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOPA#NASDAQ">SOPA</a>) rose 22.8% to $1.56.</li>
<li>LivePerson, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPSN#NASDAQ">LPSN</a>) gained 18.8% to $1.17.</li>
<li>Super League Enterprise, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLE#NASDAQ">SLE</a>) jumped 18.8% to $1.33. Super League Enterprise Director Jeff Patrick Gehl bought a total of 50,000 shares at an average price of $1.11.</li>
<li>Richtech Robotics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RR#NASDAQ">RR</a>) shares gained 18.2% to $1.74 after gaining around 228% on Friday.</li>
<li>Sonoma Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNOA#NASDAQ">SNOA</a>) gained 17% to $0.3602.</li>
<li>Alpha Teknova, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TKNO#NASDAQ">TKNO</a>) climbed 16.5% to $2.53.</li>
<li>Embecta Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EMBC#NASDAQ">EMBC</a>) gained 16.4% to $15.34. Embecta is scheduled to host a conference call to discuss its fiscal third quarter 2024 financial results on Friday, Aug. 9.</li>
<li>Netcapital Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCPL#NASDAQ">NCPL</a>) rose 16.2% to $0.1208 after jumping more than 12% on Friday. Netcapital, last week, announced the launch of the beta version of its secondary trading platform.</li>
<li>Nukkleus Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NUKK#NASDAQ">NUKK</a>) gained 14.7% to $0.3670.</li>
<li>Terex Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEX#NYSE">TEX</a>) climbed 11.2% to $62.76 after the company inked a deal to acquire Environmental Solutions Group (ESG) from Dover Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOV#NYSE">DOV</a>) in a $2.0 billion all-cash transaction.</li>
<li>Canopy Growth Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) gained 10.5% to $7.88.</li>
<li>Aveanna Healthcare Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVAH#NASDAQ">AVAH</a>) rose 10.5% to $3.80. Aveanna Healthcare will release its second quarter results before the market open on Thursday, Aug. 8.</li>
<li>Karooooo Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KARO#NASDAQ">KARO</a>) gained 10.4% to $37.78</li>
<li>Richtech Robotics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RR#NASDAQ">RR</a>) rose 10% to $1.6050 after the company installed its advanced robotic beverage system, ADAM, at Ghost Kitchens International Inc. in Dawsonville, Georgia.</li>
<li>Clearwater Paper Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLW#NYSE">CLW</a>) gained 9.6% to $53.65 after the company announced a deal to sell its tissue business for $1.06 billion.</li>
<li>SentinelOne, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/S#NYSE">S</a>) gained 9.5% to $23.80 after a failed software update from CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) caused global outages.</li>
<li>TuanChe Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TC#NASDAQ">TC</a>) shares gained 8.5% to $1.6599 after falling 6% on Friday.</li>
<li>TAL Education Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAL#NYSE">TAL</a>) rose 7.4% to $10.84. TAL Education will release its unaudited financial results for the first quarter, before the opening bell on Thursday, Aug. 1.</li>
<li>MINISO Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MNSO#NYSE">MNSO</a>) rose 5.6% to $18.10.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Linkage Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGCB#NASDAQ">LGCB</a>) shares dipped 29.1% to $3.6303.</li>
<li>Selina Hospitality PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLNA#NASDAQ">SLNA</a>) fell 20.7% to $0.0375.</li>
<li>TRxADE HEALTH, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEDS#NASDAQ">MEDS</a>) declined 20.3% to $11.75.</li>
<li>Hawaiian Electric Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HE#NYSE">HE</a>) shares fell 20.2% to $13.97. Hawaiian Electric Industries shares traded higher on Friday following a report suggesting the company reached a settlement plan over the Maui wildfires.</li>
<li>Nature Wood Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWGL#NASDAQ">NWGL</a>) dipped 20.2% to $1.98.</li>
<li>Dogness (International) Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOGZ#NASDAQ">DOGZ</a>) declined 18.3% to $12.17.</li>
<li>Agape ATP Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATPC#NASDAQ">ATPC</a>) declined 16.8% to $0.1330.</li>
<li>Ryanair Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RYAAY#NASDAQ">RYAAY</a>) shares fell 16.6% to $95.25 after the company said profits dipped 46% to 360 million euros (£303 million) for the three months to June 30.</li>
<li>PS International Group Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSIG#NASDAQ">PSIG</a>) fell 16.4% to $2.85.</li>
<li>Portage Biotech Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRTG#NASDAQ">PRTG</a>) shares fell 16.2% to $0.1912 after gaining around 25% on Friday.</li>
<li>Salarius Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLRX#NASDAQ">SLRX</a>) shares dipped 16.1% to $1.53 after falling around 25% on Friday. Salarius Pharmaceuticals was recently notified by MD Anderson Cancer Center of a Grade 4 adverse event in the Seclidemstat clinical trial.</li>
<li>Exicure, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XCUR#NASDAQ">XCUR</a>) shares fell 16.1% to $0.4490 after surging 76% on Friday.</li>
<li>Savers Value Village, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SVV#NYSE">SVV</a>) declined 12.6% to $10.19 after JP Morgan downgraded the stock from Overweight to Neutral and lowered its price target from $21 to $12.</li>
<li>Fitell Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTEL#NASDAQ">FTEL</a>) fell 11.1% to $19.68.</li>
<li>Applied Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLD#NASDAQ">APLD</a>) dipped 9.1% to $5.20.</li>
<li>Valens Semiconductor Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLN#NYSE">VLN</a>) fell 8.6% to $2.64. Valens Semiconductor will release its second quarter 2024 financial results before the opening bell on Wednesday, Aug. 7.</li>
<li>Virios Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VIRI#NASDAQ">VIRI</a>) fell 8.2% to $0.2311 after declining over 4% on Friday.</li>
<li>NuScale Power Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMR#NYSE">SMR</a>) declined 6.7% to $10.54.</li>
<li>Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) declined 6.4% to $38.94 following a second-quarter revenue miss.</li>
<li>e.l.f. Beauty, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>) fell 5.3% to $168.18.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39881674/top-4-tech-stocks-that-may-explode-in-july">Top 4 Tech Stocks That May Explode In July</a></li>
</ul>

Intraday Update

APLD

ATPC

AVAH

CMAX

CRWD

DOGZ

EMBC

FTEL

KARO

LGCB

LPSN

MEDS

MEIP

MIRA

MNSO

NCPL

NUKK

NWGL

PRTG

PSIG

RYAAY

SAVA

SERV

SLNA

SLRX

SNOA

SOPA

TELL

TKNO

VIRI

XCUR

Why CrowdStrike Shares Are Trading Lower By Around 13%? Here Are Other Stocks Moving In Monday's Mid-Day Session

WIIM

LFLY

Shares of cannabis companies are trading higher. President Biden suspended his campaign and endorsed Vice President Kamala Harris.

Deep-pocketed investors have adopted a bullish approach towards Canopy Gwth (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in CGC usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for Canopy Gwth. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 63% leaning bullish and 27% bearish. Among these notable options, 5 are puts, totaling $248,600, and 6 are calls, amounting to $339,486.
<h3>What's The Price Target?</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $5.0 to $13.0 for Canopy Gwth over the recent three months. 
<h3>Volume &amp; Open Interest Trends</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Canopy Gwth's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Canopy Gwth's significant trades, within a strike price range of $5.0 to $13.0, over the past month.
<h3>Canopy Gwth Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1721334707_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>CGC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/26/24</td>
<td>$2.52</td>
<td>$2.51</td>
<td>$2.52</td>
<td>$5.00</td>
<td>$126.0K</td>
<td>553</td>
<td>1</td>
</tr>
<tr>
<td>CGC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$1.14</td>
<td>$0.96</td>
<td>$0.95</td>
<td>$8.00</td>
<td>$94.9K</td>
<td>5.5K</td>
<td>234</td>
</tr>
<tr>
<td>CGC</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$6.65</td>
<td>$6.3</td>
<td>$6.3</td>
<td>$13.00</td>
<td>$75.6K</td>
<td>0</td>
<td>2.0K</td>
</tr>
<tr>
<td>CGC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$6.6</td>
<td>$6.25</td>
<td>$6.3</td>
<td>$13.00</td>
<td>$69.3K</td>
<td>0</td>
<td>1.1K</td>
</tr>
<tr>
<td>CGC</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$6.35</td>
<td>$6.3</td>
<td>$6.3</td>
<td>$13.00</td>
<td>$37.8K</td>
<td>0</td>
<td>1.7K</td>
</tr>
</tbody>
</table>

<h3>About Canopy Gwth</h3>
Canopy Growth, headquartered in Smiths Falls, Canada, cultivates and sells medicinal and recreational cannabis, and hemp, through a portfolio of brands that include Doja, 7ACRES, Tweed, and Deep Space. Its non-THC products include skincare products under Martha Stewart CBD and Storz &amp; Bickel vaporizers. Canopy growth merged its US assets into a separately operated holding company, Canopy USA, which will not be consolidated into the Canadian company's financials.
<h3>Present Market Standing of Canopy Gwth</h3>
<ul>
<li>With a volume of 7,789,738, the price of CGC is down -3.09% at $7.22. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 20 days.</li>
</ul>
<h3>What Analysts Are Saying About Canopy Gwth</h3>
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $2.0.
<ul>
<li>An analyst from Piper Sandler persists with their Underweight rating on Canopy Gwth, maintaining a target price of $2. </li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Canopy Gwth, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Options

Spotlight on Canopy Gwth: Analyzing the Surge in Options Activity

<a href="https://x.com/POTUS/status/1813565568454127970" title="https://x.com/POTUS/status/1813565568454127970">https://x.com/POTUS/status/1813565568454127970</a>

Biotech

Macro Economic Events

Economics

AKAN

IMCC

President Biden X Post Says "I'm making sure no one goes to jail for mere use or possession of marijuana, and their records should be expunged. It's time we right those historic wrongs."

Analyst Lorimer Wilson, a contributor at TalkMarkets, <a href="https://talkmarkets.com/content/canadian-cannabis-lps-doubled-performance-of-american-msos-this-week?post=454196">signaled</a> that Canadian Limited Partnership (LPs) Cannabis Companies did much better than American multi-state operators (MSOs) as the <a href="https://www.benzinga.com/cannabis">cannabis</a> sector remains highly volatile, with stock prices reacting sharply to news.
<h3 class="wp-block-heading">Canadian Cannabis Outperforms </h3>
<a href="https://www.benzinga.com/topic/canada-cannabis">Canadian</a> Cannabis LPs doubled the performance of cannabis companies from the US. The Canadian Cannabis LP Portfolio saw significant gains:
<ul>
<li>Aurora Cannabis (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACB#NASDAQ">ACB</a>): UP 24.7% this week; UP 30.1% MTD; UP 27.3% YTD</li>
<li>Tilray Brands (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>): UP 8.7% this week; UP 13.3% MTD; DOWN 18.3% YTD</li>
<li>Cronos Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRON#NASDAQ">CRON</a>): UP 8.1% this week; UP 3.4% MTD; UP 15.3% YTD</li>
<li>Organigram (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OGI#NASDAQ">OGI</a>): UP 6.9% this week; UP 10.4% MTD; UP 29.8% YTD</li>
<li>Canopy Growth (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>): UP 2.4% this week; UP 0.6% MTD; UP 27.0% YTD</li>
</ul>
On average, the LP Portfolio was UP 10.7% this week, 11.4% MTD, and 17.5% YTD.
Read Also: <a href="https://www.benzinga.com/partner/news/24/07/39707581/laser-photonics-nasdaq-lase-h1-milestones-update-expanded-and-upgraded-product-offering-deepened-par">Why The Time To Invest In U.S. Cannabis Stocks Is Right Now</a>
<h3 class="wp-block-heading">American Cannabis Performance</h3>
The American Cannabis MSO Portfolio showed modest gains in comparison:
<ul>
<li>Curaleaf (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTC">CURLF</a>): UP 10.2% this week; UP 9.6% MTD; UP 1.7% YTD</li>
<li>Cresco Labs (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CRLBF#OTC">CRLBF</a>): UP 9.0% this week; UP 7.6% MTD; UP 25.9% YTD</li>
<li>Ayr Wellness (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AYRWF#OTC">AYRWF</a>): UP 8.4% this week; UP 4.6% MTD; UP 14.4% YTD</li>
<li>Trulieve Cannabis (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>): UP 7.8% this week; UP 8.0% MTD; UP 91.6% YTD</li>
<li>Verano (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VRNOF#OTC">VRNOF</a>): UP 5.1% this week; UP 1.4% MTD; DOWN 16.5% YTD</li>
<li>TerrAscend (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TSNDF#OTC">TSNDF</a>): UP 1.5% this week; DOWN 0.7% MTD; DOWN 17.8% YTD</li>
<li>Green Thumb (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTC">GTBIF</a>): UP 0.9% this week; DOWN 1.8% MTD; UP 2.7% YTD</li>
</ul>
On average, the MSO Portfolio increased by 5.2% this week, 3.4% MTD and 15.9% YTD.
<h3 class="wp-block-heading">Cannabis Stock Market Insights</h3>
The 12 largest cannabis stocks were UP 7.0% last week, UP 6.0% MTD, and UP 16.5% YTD. Wilson&#8217;s observations highlight the strong performance of Canadian LPs, offering investors a promising outlook.
Fundamental analysis indicates that American cannabis companies have way more space to grow when it comes to valuation and are also more profitable. Nevertheless, disincentives related to the legislative framework and regulation are putting a limit on their growth capacities. Should some of the main regulations change, such as the <a href="https://www.benzinga.com/markets/cannabis/24/07/39715542/biden-administration-give-us-more-insight-on-marijuana-rescheduling-decision-congressional-commi">rescheduling</a> of cannabis or <a href="https://www.benzinga.com/topic/safe-banking-act">banking limitations</a>, the chance for growth is promising.
The U.S. cannabis market presents a significant <a href="https://www.benzinga.com/markets/cannabis/24/07/39647075/is-now-the-time-to-invest-in-cannabis-stocks-trends-and-long-term-predictions-from-industry-expe">risk-reward opportunity</a>, particularly for MSOs. Despite market volatility and challenges, the fundamental growth potential and increasing public support make U.S. MSOs a compelling long-term investment.
<ul>
<li>Read Next:<a href="https://www.benzinga.com/markets/cannabis/24/07/39757882/canadian-cannabis-companies-are-more-valuable-than-rivals-in-the-u-s-heres-why"> Canadian Cannabis Companies Are More Valuable Than Rivals In The U.S. &#8211; Here&#8217;s Why</a></li>
</ul>
These issues will be a hot topic&nbsp;at the upcoming Benzinga Cannabis Capital Conference in Chicago this Oct. 8-9. Join us to get more insight into what the wave of weed legalization means for the future of investing in the&nbsp;industry. Hear directly from top executives, investors, advocates, and policymakers.&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">Get your tickets now</a>&nbsp;before prices go up by following&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">this link</a>.
Cover: AI generated

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Cannabis Stocks: Canadian Companies Outperformed American Counterparts Last Week

Canopy Growth Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) shares continued to move higher Tuesday after gaining more than 9% in Monday's session. Here's a look at <a href="https://www.benzinga.com/markets/cannabis/24/07/39773667/leaked-documents-czech-republic-plans-to-set-up-legal-recreational-cannabis-market">what you need to know.</a> 
What To Know: Canopy Growth stock popped Monday around the same time former President Donald Trump selected Sen. J.D. Vance (R-Ohio) as his vice-presidential running-mate. Ohio <a href="https://www.benzinga.com/markets/cannabis/23/11/35664155/ohio-legalizes-cannabis-and-overwhelmingly-approves-abortion-rights" target="_blank" rel="noreferrer noopener">legalized adult-use cannabis</a> in November 2023.
According to a Marijuana Moment <a href="https://www.marijuanamoment.net/where-trumps-vice-presidential-running-mate-j-d-vance-stands-on-marijuana/">report</a>, Vance believes states should set their own cannabis laws. He&#8217;s also suggested that he's against incarcerating individuals for low-level possession.
Vance voted against the Secure and Fair Enforcement Regulation (SAFER) Banking Act when it <a href="https://www.benzinga.com/markets/cannabis/23/09/34929327/breaking-senate-committee-approves-cannabis-banking-reform-in-historic-vote" target="_blank" rel="noreferrer noopener">was approved</a> in September 2023, noting that &#8220;the bill was crafted in such a way that actually would have opened up access to banking resources for fentanyl traffickers and others.&#8221; However, Vance left the door open to approving a revised bill in the future.
&#8220;If the legislation is better, I&#8217;d be more likely to support it,&#8221; he said at the time.
Read Next: <a href="https://www.benzinga.com/news/24/07/39776035/solar-stocks-tumble-following-failed-assassination-of-trump-whats-going-on">Solar Stocks Tumble Following Failed Assassination Of Trump: What&#8217;s Going On?</a>
What Else: The Czech government is reportedly pursuing a full commercial adult-use cannabis market as part of its Cannabis Management Act, according to a <a href="https://businessofcannabis.com/czech-republic-will-pursue-full-adult-use-commercial-cannabis-market-leaked-documents-suggest/">report </a>released Monday from Business of Cannabis. Canopy Growth currently serves the medical marijuana market in the Czech Republic.
Canopy Growth still faces several headwinds, including the uncertain regulatory environment in the U.S., and the company has yet to become profitable. According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Canopy Growth shares are trading below the stock&#8217;s 50-day moving average of $8.02. It&#8217;s also worth noting that approximately 17.5% of Canopy&#8217;s float is currently being sold short. 
<h2 class="wp-block-heading">Will CGC Stock Go Up?</h2>
When trying to assess whether or not Canopy Growth will trade higher from current levels, it's a good idea to take a look at analyst forecasts. 
Wall Street analysts have an average 12-month price target of $2 on Canopy Growth. One analyst has a negative rating on Canopy Growth&#8217;s stock. 
In the last month, one analyst has adjusted price targets. Here's a look at recent price target changes <a href="https://www.benzinga.com/quote/CGC/analyst-ratings">[Analyst Ratings]</a>. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering Canopy Growth have performed in recent history. 
Stocks don't move in a straight line. The average stock market return is approximately 10% per year. Canopy Growth is 80.49% up year-to-date. The average analyst price target suggests the stock could have further downside ahead.
For a broad overview of everything you need to know about Canopy Growth, visit <a href="https://www.benzinga.com/quote/CGC">here</a>. If you want to go above and beyond, there's no better tool to help you do just that than <a href="https://pro.benzinga.com/">Benzinga Pro</a>. Start your free trial today.
CGC Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Canopy Growth shares ended Tuesday session 3.08% higher at $7.36. 
Read Also:
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<li><a href="https://www.benzinga.com/news/24/07/39777940/whats-going-on-with-upstart-stock">What&#8217;s Going On With Upstart Stock?</a></li>
</ul>
Image: Nicky from Pixabay

What Happened With Canopy Growth Stock Today?

The National Institute of Standards and Technology (NIST) has introduced a <a href="https://www.benzinga.com/markets/cannabis/24/07/39718934/why-one-government-agency-is-selling-cannabis-at-174-a-gram-and-a-jar-of-peanut-butter-for-1-143">new hemp reference material, RM 8210</a>, priced at $783 for 4.5 grams. 
This product is designed to enhance the accuracy of <a href="https://www.benzinga.com/topic/thc">THC</a> and CBD measurements in cannabis products, which is crucial for regulatory compliance and consumer safety. This development is timely as the cannabis industry prepares for the <a href="https://www.benzinga.com/events/cannabis-conference/">Benzinga Cannabis Capital Conference</a> in Chicago on Oct. 8-9, where leaders will discuss advancements in cannabis testing and other industry trends.
<h3 class="wp-block-heading">The Need for Accurate Measurements</h3>
In the cannabis industry, precise THC measurement is essential to distinguish legal hemp from controlled marijuana. Hemp is legally defined as cannabis containing no more than 0.3% THC. 
Susan Audino, a chemistry laboratory consultant at S.A. Audino &amp; Associates, emphasized, "If we have 0.31% THC, it's now called marijuana, and it is illegal." Reference materials like NIST's hemp samples are vital for laboratories to ensure consistent and accurate results.
<h3 class="wp-block-heading">Industry Leaders Focused on Testing Standards</h3>
Leading cannabis companies, such as Aurora Cannabis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACB#NYSE">ACB</a>) and Canopy Growth Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>), have been prioritizing rigorous testing protocols to meet regulatory standards. Aurora Cannabis collaborates with multiple laboratories to ensure its products meet stringent requirements, thereby enhancing its market credibility. Canopy Growth has invested significantly in advanced testing methodologies to ensure product quality and safety.
These companies&#8217; efforts in maintaining high testing standards are expected to be a point of discussion at the Benzinga Cannabis Capital Conference. Industry experts, including Beau Whitney, CEO of Whitney Economics, will share insights on the economic impacts of regulatory standards on the cannabis market, emphasizing the importance of accurate testing and compliance.
<h3 class="wp-block-heading">Justifying the High Costs</h3>
The high cost of NIST's hemp reference material reflects the meticulous process involved in its creation. Each sample undergoes extensive testing and validation to meet high standards of accuracy. This includes grinding hemp to a consistent particle size, blending lower-THC material to maintain legal levels, and storing samples at -80°C to prevent degradation.
NIST's pricing is consistent with other high-value reference materials, such as avocado powder at $1,166 for 50 grams and peanut butter at $1,143 for 510 grams. These costs underscore the precision and rigorous standards maintained by NIST, which are essential for ensuring safety and compliance in various industries.
<h3 class="wp-block-heading">Legal and Consumer Safety Implications</h3>
Accurate THC measurements are vital for forensic labs to determine whether a sample is hemp or marijuana, a distinction with legal implications. Amber McConnell, forensic chemistry manager at the Maryland State Police, noted, "Our reports will then be used in court to say whether or not a person has a controlled substance." For the cannabis industry, precise labeling builds consumer trust. NIST biologist Colleen Bryan stated, "If you buy a product that claims to have 25 milligrams of CBD per dose, you should be able to trust that number."
<h3 class="wp-block-heading">Broader Industry Impacts</h3>
NIST's hemp reference material is part of a broader effort to improve the reliability of cannabis testing through the Cannabis Laboratory Quality Assurance Program (CannaQAP). This program standardizes testing methods across the industry, ensuring all labs provide accurate and consistent results. As the cannabis industry continues to grow, the demand for accurate testing and reliable reference materials will increase.
At the <a href="https://www.benzinga.com/events/cannabis-conference/">Benzinga Cannabis Capital Conference</a>, industry leaders will explore these advancements in testing accuracy. Notable speakers such as Ross Gerber, Co-founder, President, and CEO of Gerber Kawasaki Wealth and Investment Management, and Sundie Seefried, CEO of Safe Harbor Financial, will offer valuable perspectives on how precise testing and regulatory compliance can drive industry growth.
Now Read: 
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</ul>
Image: Matteo Paganelli on Unsplash

Are Cannabis Products Safer Now? Inside The New Testing Standards

<h3>GAINERS:</h3>
<ul>
<li><a href="https://www.benzinga.com/quote/AUSAF">Australis Capital</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AUSAF#OTC">AUSAF</a>) shares closed up 9900.00% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/GBHPF">Global Hemp Group</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GBHPF#OTC">GBHPF</a>) shares closed up 70.36% at $0.05</li>
<li><a href="https://www.benzinga.com/quote/MGWFF">Maple Leaf Green World</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MGWFF#OTC">MGWFF</a>) shares closed up 68.48% at $0.05</li>
<li><a href="https://www.benzinga.com/quote/LVRLF">CordovaCann</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LVRLF#OTC">LVRLF</a>) shares closed up 42.50% at $0.06</li>
<li><a href="https://www.benzinga.com/quote/CBDY">Target Group</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CBDY#OTC">CBDY</a>) shares closed up 25.00% at $0.00</li>
<li><a href="https://www.benzinga.com/quote/BBRRF">Blueberries Medical</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BBRRF#OTC">BBRRF</a>) shares closed up 19.09% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/CLSH">CLS Holdings USA</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CLSH#OTC">CLSH</a>) shares closed up 17.00% at $0.04</li>
<li><a href="https://www.benzinga.com/quote/ZLDAF">Zelira Therapeutics</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ZLDAF#OTC">ZLDAF</a>) shares closed up 15.32% at $0.55</li>
<li><a href="https://www.benzinga.com/quote/LBUY">Leafbuyer Techs</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LBUY#OTC">LBUY</a>) shares closed up 14.67% at $0.02</li>
<li><a href="https://www.benzinga.com/quote/CGC">Canopy Gwth</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) shares closed up 10.92% at $7.14</li>
<li><a href="https://www.benzinga.com/quote/SOLCF">SOL Glb Inv</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SOLCF#OTC">SOLCF</a>) shares closed up 10.66% at $0.05</li>
<li><a href="https://www.benzinga.com/quote/CNTMF">Cansortium</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CNTMF#OTC">CNTMF</a>) shares closed up 9.71% at $0.11</li>
<li><a href="https://www.benzinga.com/quote/RMHB">Rocky Mountain High</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RMHB#OTC">RMHB</a>) shares closed up 7.69% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/GENE">Genetic Technologies</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GENE#NASDAQ">GENE</a>) shares closed up 6.89% at $0.92</li>
<li><a href="https://www.benzinga.com/quote/RSSFF">Affinor Growers</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RSSFF#OTC">RSSFF</a>) shares closed up 6.05% at $0.07</li>
<li><a href="https://www.benzinga.com/quote/GRWG">GrowGeneration</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRWG#NASDAQ">GRWG</a>) shares closed up 5.15% at $2.47</li>
<li><a href="https://www.benzinga.com/quote/UGRO">Urban-gro</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UGRO#NASDAQ">UGRO</a>) shares closed up 3.33% at $1.47</li>
</ul>
<h3>LOSERS:</h3>
<ul>
<li><a href="https://www.benzinga.com/quote/ELLXF">Elixinol Wellness</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ELLXF#OTC">ELLXF</a>) shares closed down 20.00% at $0.00</li>
<li><a href="https://www.benzinga.com/quote/KAYS">Kaya Holdings</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/KAYS#OTC">KAYS</a>) shares closed down 18.96% at $0.04</li>
<li><a href="https://www.benzinga.com/quote/EAST">Eastside Distilling</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EAST#NASDAQ">EAST</a>) shares closed down 15.97% at $1.01</li>
<li><a href="https://www.benzinga.com/quote/BMMJ">Body and Mind</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMMJ#OTC">BMMJ</a>) shares closed down 15.83% at $0.03</li>
<li><a href="https://www.benzinga.com/quote/FFNTF">4Front Ventures</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FFNTF#OTC">FFNTF</a>) shares closed down 10.50% at $0.08</li>
<li><a href="https://www.benzinga.com/quote/CNBX">CNBX Pharmaceuticals</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CNBX#OTC">CNBX</a>) shares closed down 9.86% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/FUAPF">Global Compliance</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FUAPF#OTC">FUAPF</a>) shares closed down 7.85% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/CVSI">CV Sciences</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CVSI#OTC">CVSI</a>) shares closed down 5.21% at $0.05</li>
<li><a href="https://www.benzinga.com/quote/MRMD">MariMed</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MRMD#OTC">MRMD</a>) shares closed down 4.12% at $0.16</li>
<li><a href="https://www.benzinga.com/quote/CARA">Cara Therapeutics</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CARA#NASDAQ">CARA</a>) shares closed down 3.17% at $0.34</li>
<li><a href="https://www.benzinga.com/quote/OILFF">Nextleaf Solutions</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/OILFF#OTC">OILFF</a>) shares closed down 3.16% at $0.06</li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Cannabis Stock Gainers And Losers From July 15, 2024

The Czech Republic seems to be considering a fully legal commercial adult-use cannabis market as part of its ‘Cannabis Management Act,' according to leaked documents. 
The news, <a href="https://businessofcannabis.com/czech-republic-will-pursue-full-adult-use-commercial-cannabis-market-leaked-documents-suggest/">reported</a> by Business of Cannabis, follows the resignation of the National Drug Coordinator&#8216;s decision to resign from his position in order to continue to serve on the project in an advisory role. Jindřich Vobořil, tasked by the Czech government to prepare a law that would regulate cannabis, previously completed two separate versions of the measure.
The measure seeks to set up a cannabis market much like Canada&#8217;s and certain US states. It has yet to be reviewed internally and by the European Commission.
In January, one of the draft version of the bill<a href="https://www.benzinga.com/markets/cannabis/24/01/36592290/breaking-czech-lawmakers-release-compromise-version-of-cannabis-bill-self-cultivation-has-a-chan"> made headlines</a>. The Czech Pirates party, which backs cannabis reform, said at that time the draft is a &#8220;compromise version&#8221; that they intend to negotiate further to include issues such as a pilot testing of a regulated market. That draft bill came some nine months after the Czech Cabinet announced it would addiction problems.
<h3 class="wp-block-heading">Here's What's In The Cannabis Management Act</h3>
Under that draft bill growing cannabis for personal use would be legal. The legislation also seeks to set up a licensing and seed-to-sale tracking system, similar to one underway in Switzerland and to in Germany&#8217;s cultivation associations.
"From the point of view of the National Drug Policy Coordinator, this proposal is insufficient and I consider the Cannabis Management Act, which contains three pillars: self-growth, delegation and a regulated cannabis market, to be effective in minimizing the illicit cannabis market," the bill reads.
The bill seeks to decriminalize up to 10 grams of cannabis for personal use or more precisely "cannabis dry matter, cannabis extract and tincture or another form of the processed cannabis plant, in aggregate equivalent to not more than 10 grams of cannabis dry matter containing 10 % of substances of the tetrahydrocannabinol group."
Those seeking to become license holders would have to pay a CZK 2,000 ($86) application fee, directed to the state budget. Only those over 18 would be eligible to hold one of the following three types of licenses:
<ul>
<li>Cultivation for personal use</li>
<li>Registered members of cannabis associations</li>
<li>Users obtain cannabis in specialized establishments</li>
</ul>
<h3 class="wp-block-heading">Why It Matters</h3>
Cannabis operators have been ramping up their presence in the Czech Republic in anticipation of these very regulatory changes.
Curaleaf International, part of Curaleaf Holdings Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTC">CURLF</a>) , which has already established its presence in the European market, announced its expansion in the Czech Republic in March, via a new <a href="https://www.benzinga.com/markets/cannabis/24/03/37706111/weed-giants-tilray-and-curaleaf-ramp-up-presence-in-europe-heres-why">supply agreement with</a><a href="https://www.benzinga.com/markets/cannabis/24/03/37706111/weed-giants-tilray-and-curaleaf-ramp-up-presence-in-europe-heres-why"> Astrasana Pharma s.r.o.</a> The collaboration will make Curaleaf International&#8217;s EU-GMP flower available to patients via Pilulka Pharmacy, a healthcare provider in the region.
PharmaCielo Ltd. (TSXV:<a class="ticker" href="https://www.benzinga.com/stock/PCLO#TSXV">PCLO</a>) (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/PCLOF#OTCQX">PCLOF</a>) made its first shipment of THC-dominant dried cannabis flower to a customer in the Czech Republic <a href="https://www.benzinga.com/markets/cannabis/22/09/28882197/pharmacielo-ships-dried-cannabis-flower-to-the-czech-republic-expanding-its-exports-to-eu">in the EU market in 2022.</a>
Canadian cannabis giant Tilray Brands, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) (TSX:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#TSX">TLRY</a>) announced in 2023 that its medical cannabis division, Tilray Medical, has expanded its European footprint across the Czech Republic through a new export and distribution <a href="https://www.benzinga.com/markets/cannabis/23/04/31697473/tilray-medical-enters-into-export-and-distribution-partnership-with-cansativa-group">partnership with Cansativa Group.</a>
In addition, Canopy Growth Corporation&#8217;s (TSX:<a class="ticker" href="https://www.benzinga.com/stock/WEED#TSX">WEED</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) medical brands currently service European medical markets in the Czech Republic and Poland as well as Asia-Pacific markets, <a href="https://www.benzinga.com/markets/cannabis/23/10/35162207/canopy-growth-shares-up-slightly-in-pre-market-trading-on-eu-gmp-certification-news">including Australia and New Zealand.</a>
Read Next:
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<li><a href="https://www.benzinga.com/markets/cannabis/24/07/39674988/11-best-countries-for-weed-consumption-and-vacation-this-summer-in-europe-no-spain-is-not-no-1-b">11 Best Countries For Weed Consumption And Vacation This Summer In Europe (No, Spain Is Not No.1 But It&#8217;s Close)</a> </li>
</ul>
Cannabis rescheduling seems to be right around the corner. Want to understand what this means for the future of the industry? Hear directly for top executives, investors and policymakers at the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9. <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">Get your tickets now</a> before prices surge by following <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">this link</a>.

PCLOF

TSX:TLRY

TSXV:PCLO

Leaked Documents: Czech Republic Plans To Set Up Legal Recreational Cannabis Market

<a href="https://www.marijuanamoment.net/gop-congressional-committee-approves-bill-to-block-marijuana-rescheduling-while-rejecting-state-cannabis-protections-amendment/" title="https://www.marijuanamoment.net/gop-congressional-committee-approves-bill-to-block-marijuana-rescheduling-while-rejecting-state-cannabis-protections-amendment/">https://www.marijuanamoment.net/gop-congressional-committee-approves-bill-to-block-marijuana-rescheduling-while-rejecting-state-cannabis-protections-amendment/</a>

MASSIVE INTERACTIVE NV by Massive Interactive, Inc.

HUGE

'GOP Congressional Committee Approves Bill To Block Marijuana Rescheduling, While Rejecting State Cannabis Protections Amendment' - Marijuana Moment

Piper Sandler analyst Michael Lavery maintains Canopy Gwth (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) with a Underweight and lowers the price target from $3 to $2.

Price Target

Analyst Ratings

Piper Sandler Maintains Underweight on Canopy Gwth, Lowers Price Target to $2

<a href="https://www.marijuanamoment.net/california-legislature-approves-bill-to-break-psychedelics-research-logjam-sending-it-to-governor/" title="https://www.marijuanamoment.net/california-legislature-approves-bill-to-break-psychedelics-research-logjam-sending-it-to-governor/">https://www.marijuanamoment.net/california-legislature-approves-bill-to-break-psychedelics-research-logjam-sending-it-to-governor/</a>

MNMD

'California Legislature Approves Bill To Break Psychedelics Research Logjam, Sending It To Governor' - Marijuana Moment

The recent federal court ruling <a href="https://www.benzinga.com/markets/cannabis/24/07/39586847/federal-court-dismisses-marijuana-companies-lawsuit-against-government-prohibition" target="_blank" rel="noreferrer noopener">dismissing a lawsuit from major cannabis companies</a> that sought to prevent the U.S. government from enforcing prohibition against their in-state activities, could signal critical implications for <a href="http://benzinga.com/cannabis">cannabis</a> stocks and the broader industry.
On a recent episode of the The Dales Report Trade to Black <a href="https://www.youtube.com/watch?v=qbgUMQo_QPQ" target="_blank" rel="noreferrer noopener">podcast</a>, Dan Ahrens, manager of AdvisorShares Trust AdvisorShares Pure US Cannabis ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSOS#NYSE">MSOS</a>), shared insights into the consequences of the ruling, which the market appears to have interpreted negatively. However, according to Ahrens, this legal maneuver is part of a strategic approach to bring the issue to the Supreme Court, potentially leading to favorable regulatory changes.
<h3 class="wp-block-heading">Legal Developments: Impact On Cannabis Stocks</h3>
The stock market has shown volatility in response to these developments, largely due to the broader regulatory landscape and investor sentiment. Ahrens highlighted that U.S. <a href="https://www.benzinga.com/topic/cannabis-stocks" target="_blank" rel="noreferrer noopener">cannabis stocks</a> are highly sensitive to regulatory news, leading to significant market fluctuations and underscoring the industry&#8217;s dependency on favorable legal and regulatory outcomes.
Furthermore, this sensitivity is compounded by investor concerns over the slow progress in cannabis policy reform, which has kept many companies like Trulieve Cannabis (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>), Canopy Growth (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) and Tilray Brands (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) operating in the red, as <a href="https://www.fool.com/investing/2024/07/03/this-is-what-a-top-cannabis-executive-thinks-is-go/" target="_blank" rel="noreferrer noopener">noted</a> by The Motley Fool.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/39622091/executive-changes-in-cannabis-industry-you-should-know-about-new-appointments-more" target="_blank" rel="noreferrer noopener">Executive Changes In Cannabis Industry You Should Know About, New Appointments &amp; More</a>
<h3 class="wp-block-heading">Cannabis Sector Growth And Long-Term Expectations</h3>
As the industry navigates through these regulatory developments, Boris Jordan, executive chairman of Curaleaf Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTC">CURLF</a>), predicts a drastic consolidation in the industry over the next decade, driven by unsustainable current operations amid federal restrictions. &#8220;In the U.S., we definitely need consolidation because the cost structure is completely out of whack,&#8221; stated Jordan, according to The Motley Fool. He anticipates that only five to ten major players will dominate the market within the next decade due to these pressures.
Both Jordan and Ahrens agree on the significant growth potential within the sector, propelled by eventual regulatory changes and <a href="https://www.benzinga.com/markets/cannabis/24/03/37964845/9-out-of-10-americans-support-some-form-of-legal-cannabis-pew-research-center-finds" target="_blank" rel="noreferrer noopener">increasing market acceptance</a>. Ahrens is optimistic about the industry&#8217;s trajectory, suggesting a beneficial reevaluation of cannabis policy. Similarly, Jordan's projections indicate a <a href="https://www.benzinga.com/markets/cannabis/24/03/37521749/unpacking-the-58b-cannabis-market-boom-bdsa-forecasts-for-2028" target="_blank" rel="noreferrer noopener">maturing market</a>, potentially yielding a more stable and profitable environment for the leading companies.
<h3 class="wp-block-heading">High Risk, High Reward For Cannabis Investors</h3>
In line with these expert analyses, the impending <a href="https://www.benzinga.com/topic/cannabis-rescheduling" target="_blank" rel="noreferrer noopener">rescheduling of cannabis</a> and potential legislative changes, such as the SAFE Banking Act, promise to lighten regulatory burdens. Javier Hasse of Benzinga highlights that <a href="https://www.benzinga.com/markets/cannabis/24/06/39388679/why-the-time-to-invest-in-u-s-cannabis-stocks-is-right-now" target="_blank" rel="noreferrer noopener">these developments could spur significant growth and investment opportunities</a>, underscoring a robust long-term potential for the market, especially for multi-state operators that are well-positioned to capitalize on these changes.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cannabis/24/06/39553369/exclusive-can-data-fix-cannabis-banking-green-check-ceo-breaks-down-the-solution" target="_blank" rel="noreferrer noopener">EXCLUSIVE: Can Data Fix Cannabis Banking? Green Check CEO Breaks Down The Solution</a></li>
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Cannabis rescheduling seems to be right around the corner. Want to understand what this means for the future of the industry? Hear directly for top executives, investors and policymakers at the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9. <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">Get your tickets now</a> before prices surge by following <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">this link</a>.

Is Now The Time To Invest In Cannabis Stocks? Trends And Long-Term Predictions From Industry Experts

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