Canopy Gwth Stock (NASDAQ:CGC), 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 is attempting to merge its U.S. assets into a separately operated holding company, Canopy USA, which will not be consolidated into the Canadian company's financials.

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On Tuesday, cannabis stocks fell in early trading before rebounding and trending higher in the afternoon. Some of the upward momentum may have been a result of executive commentary from the Benzinga conference. Wednesday marks the final day of Benzinga&#39;s Cannabis Capital Conference in Hollywood, Florida. 

What&#39;s Going On With Cannabis Stocks Wednesday?

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&#34;I don&#39;t think we get any credit&#34; for Wana, Jetty or Acreage, Canopy Growth CEO David Klein says.

Canopy Growth CEO At Benzinga Conference: &#39;I Don&#39;t Think Our Investors Understand The Value That Sits Inside Of Canopy&#39;

Canopy Growth Corporation - Common Shares

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Canopy Growth shares are trading lower after the company announced that CBI exchanged 17,149,925 common shares in the capital of the company for exchangeable shares for no consideration

Canopy GrowthSays Garth Hankinson, Judy Schmeling and James Sabia Resign From Board

Canopy Growth Announces That In Connection With The Creation Of Exchangeable Shares, Greenstar And CBG Exchanged All 17,149,925 Common Shares For 17,149,925 Exchangeable Shares For No consideration; As A Result, The CBG Group No Longer Holds Any Common Shares

<h3>GAINERS:</h3>
<ul>
<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 38.57% at $0.03</li>
<li><a href="https://www.benzinga.com/quote/MJNE">MJ Holdings</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MJNE#OTC">MJNE</a>) shares closed up 27.91% at $0.01</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 20.34% at $7.83</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 20.00% at $0.01</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 19.50% at $0.02</li>
<li><a href="https://www.benzinga.com/quote/GNLN">Greenlane Hldgs</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GNLN#NASDAQ">GNLN</a>) shares closed up 19.16% at $0.66</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 13.46% at $6.54</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 10.77% at $0.01</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 8.61% at $0.04</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 8.61% at $1.00</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 8.45% at $0.08</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 6.38% at $0.01</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 4.92% at $1.87</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 4.29% at $1.71</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 up 3.68% at $0.19</li>
</ul>
<h3>LOSERS:</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 down 99.00% at $1e-06</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 down 40.00% at $0.03</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 33.33% at $0.001</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 21.50% at $0.06</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 down 20.89% at $2.44</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 15.10% at $0.01</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 13.53% at $0.05</li>
<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 12.50% at $0.00</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 5.72% at $0.69</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 5.71% at $0.10</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 5.00% at $0.19</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 4.73% at $0.04</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 4.11% at $2.10</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 3.83% at $0.02</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 down 3.35% at $0.19</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 3.22% at $11.42</li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Bearish Sentiment Across The Cannabis Space - Check Full Movers For April 18, 2024

Shares of cannabis stocks are trading higher following reports suggesting a group representing state lawmakers is urging Congress to attach a marijuana banking bill to FAA legislation.

U.S. stocks were lower, with the Nasdaq Composite falling over 50 points on Thursday.
Shares of Ally Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>) rose sharply during Thursday's session after the company reported better-than-expected quarterly financial results.
Ally Financial posted adjusted earnings of 45 cents per share, beating market estimates of 33 cents per share. The company's adjusted sales came in at $1.99 billion versus expectations of $1.96 billion.
Ally Financial shares jumped 7.7% to $39.06 on Thursday.
Here are some other big stocks recording losses in today's session.
<ul>
<li>Critical Metals Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRML#NASDAQ">CRML</a>) rose 24% to $9.30.</li>
<li>Canopy Growth Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) shares gained 21.2% to $7.86.</li>
<li>Humacyte, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUMA#NASDAQ">HUMA</a>) shares rose 13.9% to $3.5550.</li>
<li>Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) jumped 13.4% to $29.92. The company in a filing explained to shareholders how to prevent shares from being loaned for a short interest position.</li>
<li>Aquestive Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AQST#NASDAQ">AQST</a>) jumped 12.4% to $4.4050.</li>
<li>Badger Meter, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMI#NYSE">BMI</a>) shares jumped 11.8% to $171.06 after the company reported better-than-expected first-quarter results.</li>
<li>FibroBiologics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FBLG#NASDAQ">FBLG</a>) rose 11.8% to $10.61.</li>
<li>CleanSpark, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLSK#NASDAQ">CLSK</a>) climbed 11.7% to $16.66 as Bitcoin has gained over the past 24 hours.</li>
<li>Genuine Parts Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GPC#NASDAQ">GPC</a>) gained 11.1% to $160.05 after the company reported a first-quarter EPS beat and raised its FY24 guidance.</li>
<li>Barnes Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/B#NYSE">B</a>) rose 8.8% to $36.31. DA Davidson analyst Matt Summerville upgraded Barnes from Neutral to Buy and raised the price target from $35 to $45.</li>
<li>Iridium Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRDM#NASDAQ">IRDM</a>) climbed 8.5% to $26.81 after the company reported better-than-expected first-quarter financial results.</li>
<li>Apogee Enterprises, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APOG#NASDAQ">APOG</a>) surged 8.1% to $60.42 following upbeat quarterly earnings.</li>
<li>ManpowerGroup Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAN#NYSE">MAN</a>) gained 7.1% to $75.03 following strong second-quarter guidance.</li>
<li>Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) rose 6.2% to $11.58 following recent reports of the TikTok divest-or-ban bill moving on a fast track through Congress.</li>
<li>United Airlines Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) jumped 4.6% to $50.99 after multiple analysts raised their price targets on the stock.</li>
<li>Now Read This: <a href="https://www.benzinga.com/news/24/04/38316287/netflix-earnings-are-imminent-these-most-accurate-analysts-revise-forecasts-ahead-of-earnings-call">Netflix Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call</a></li>
</ul>
<figure class="wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex"> 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="612" height="418" data-id="298553" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18140050/Image26-1.jpeg" alt="" class="wp-image-298553" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18140050/Image26-1.jpeg 612w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/18140050/Image26-1-300x205.jpeg 300w" sizes="(max-width: 612px) 100vw, 612px" /><figcaption class="wp-element-caption">Double exposure of business woman are trading USA stock market by using digital tablet</figcaption></figure> 
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<h3>GAINERS:</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 up 900.00% at $1e-05</li>
<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 up 48.15% at $0.00</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 24.22% at $0.09</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 23.84% at $0.08</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 up 22.41% at $0.60</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 up 10.28% at $11.80</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 8.11% at $0.20</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 up 7.65% at $0.02</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 7.29% at $0.34</li>
<li><a href="https://www.benzinga.com/quote/RIV">Rivernorth Opps Fund</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIV#NYSE">RIV</a>) shares closed up 6.13% at $11.38</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 5.56% at $13.11</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 up 4.41% at $5.21</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 up 3.10% at $0.10</li>
</ul>
<h3>LOSERS:</h3>
<ul>
<li><a href="https://www.benzinga.com/quote/KHRNF">Khiron Life Sciences</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/KHRNF#OTC">KHRNF</a>) shares closed down 99.99% at $1e-06</li>
<li><a href="https://www.benzinga.com/quote/INLB">Item 9 Labs</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/INLB#OTC">INLB</a>) shares closed down 50.00% at $0.0001</li>
<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 24.46% at $0.02</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 20.00% at $0.01</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 16.67% at $0.00</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 down 12.89% at $0.03</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 12.68% at $0.03</li>
<li><a href="https://www.benzinga.com/quote/CRBP">Corbus Pharmaceuticals</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRBP#NASDAQ">CRBP</a>) shares closed down 9.63% at $37.16</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 down 8.08% at $1.83</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 down 7.58% at $1.21</li>
<li><a href="https://www.benzinga.com/quote/NDVAF">Indiva</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NDVAF#OTC">NDVAF</a>) shares closed down 6.96% at $0.04</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 6.01% at $1.72</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 down 5.80% at $0.01</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 4.04% at $2.14</li>
<li><a href="https://www.benzinga.com/quote/SOL">Emeren Group</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOL#NYSE">SOL</a>) shares closed down 3.78% at $1.77</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 3.39% at $5.79</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 3.13% at $6.49</li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Marijuana Stock Movers For April 17, 2024

Several cannabis stocks are well off their lows for the day and trending higher Wednesday afternoon. Here&#8217;s a look at <a href="https://www.benzinga.com/markets/cannabis/24/04/38281676/cannabis-stocks-shine-as-benzingas-cannabis-capital-conference-unfolds">what&#8217;s going on</a>.
What To Know: Wednesday marks the final day of Benzinga's Cannabis Capital Conference in Hollywood, Florida. 
Multiple cannabis execs have already spoke at the conference including Curaleaf Hldgs Inc (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTCQX">CURLF</a>) chairman Boris Jordan, Canopy Growth Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) CEO David Klein and Trulieve Cannabis Corp (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTCQX">TCNNF</a>) CEO Kim Rivers, among others. Check out <a href="https://www.benzinga.com/events/cannabis-conference/agenda/" target="_blank" rel="noreferrer noopener">this page</a> for more information on speakers.
On Tuesday, cannabis stocks fell in early trading before rebounding and trending higher in the afternoon. Some of the upward momentum may have been a result of executive commentary from the Benzinga conference.
Check This Out: <a href="https://www.benzinga.com/markets/cannabis/24/04/38295035/ric-flair-will-visit-california-dispensary-on-420-for-debut-of-his-cannabis-brand-but-first-meet">Ric Flair Will Visit California Dispensary On 4/20 For Debut Of His Cannabis Brand, But First Meet Him At The Benzinga Conference In Florida</a>
Cannabis stocks may also be getting a lift on Wednesday following a Marijuana Moment <a href="https://www.marijuanamoment.net/senator-presses-attorney-general-garland-on-marijuana-banking-bills-impact-on-criminal-investigations/">report</a> that Sen. Jack Reed (D-RI) on Wednesday pressed Attorney General Merrick Garland about a bipartisan marijuana banking bill during a hearing before the Senate Appropriations Subcommittee on Commerce, Justice, Science and Related Agencies.
&#8220;Section 10 of the original legislation would have compromised law enforcement and national security by requiring banks to notify customers when the government requested termination of an account. In essence, the original language meant that serious criminals could be tipped off that they are under investigation,&#8221; Reed reportedly said. 
"Fortunately, through a bipartisan committee process, we worked to address major flaws in Section 10 and curbed its negative effects. Do you agree that such a policy would handcuff law enforcement and the intelligence community if the bank had to disclose that their account has been terminated by law enforcement?"
Here&#8217;s a look at the price action across the cannabis sector Wednesday afternoon:
<ul>
<li>Canopy Growth Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) </li>
</ul>
<ul>
<li>Curaleaf Hldgs Inc (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTCQX">CURLF</a>)</li>
</ul>
<ul>
<li>Trulieve Cannabis Corp (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTCQX">TCNNF</a>)</li>
</ul>
<ul>
<li>Tilray Brands Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>)</li>
</ul>
<ul>
<li>SNDL Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNDL#NASDAQ">SNDL</a>)</li>
</ul>
<ul>
<li>Green Thumb Industries Inc (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTCQX">GTBIF</a>)</li>
</ul>
<ul>
<li>AdvisorShares Pure US Cannabis ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSOS#NYSE">MSOS</a>)</li>
</ul>
<ul>
<li>AdvisorShares Pure Cannabis ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YOLO#NYSE">YOLO</a>)</li>
</ul>
Don&#8217;t Miss: <a href="https://www.benzinga.com/markets/cannabis/24/04/38297096/canopy-growth-ceo-at-benzinga-conference-i-dont-think-our-investors-understand-the-value-that-si">Canopy Growth CEO At Benzinga Conference: &#8216;I Don&#8217;t Think Our Investors Understand The Value That Sits Inside Of Canopy&#8217;</a>
Photo: 7raysmarketing from Pixabay.

What's Going On With Cannabis Stocks Wednesday?

<a href="https://www.marijuanamoment.net/senator-presses-attorney-general-garland-on-marijuana-banking-bills-impact-on-criminal-investigations/">https://www.marijuanamoment.net/senator-presses-attorney-general-garland-on-marijuana-banking-bills-impact-on-criminal-investigations/</a>
A Democratic senator on Wednesday pressed Attorney General Merrick Garland about a bipartisan marijuana banking bill, seeking his perspective on a controversial section concerning broader financial regulations.
During a hearing before the Senate Appropriations Subcommittee on Commerce, Justice, Science, and Related Agencies, Sen. Jack Reed (D-RI) asked the attorney general for his opinion of Section 10 of the original Secure and Fair Enforcement Regulation (SAFER) Banking Act.
"Section 10 of the original legislation would have compromised law enforcement and national security by requiring banks to notify customers when the government requested termination of an account," Reed said. "In essence, the original language meant that serious criminals could be tipped off that they are under investigation."
"Fortunately, through a bipartisan committee process, we worked to address major flaws in Section 10 and curbed its negative effects," the senator said. "Do you agree that such a policy would handcuff law enforcement and the intelligence community if the bank had to disclose that their account has been terminated by law enforcement?"
Garland replied that while he's familiar with the SAFER Banking Act itself, he wasn't up-to-speed on the specific provisions Reed mentioned.
"As a theoretical matter without commenting on that, obviously, if we are investigating someone and that person is advised of our investigation, that makes our investigation all the more difficult and may compromise it," the attorney general said. "But I can't answer specifically with respect to the statute."
Reed seemed to be using the opportunity at the <a href="https://www.appropriations.senate.gov/hearings/a-review-of-the-presidents-fiscal-year-2025-budget-request-for-the-us-department-of-justice">hearing</a> to reiterate his own concerns about Section 10, which was revised following months of bipartisan negotiations. Republicans broadly favor the language as a means of mitigating the risk of financial regulators taking discriminatory enforcement action against politically controversial industries such as gun manufacturers and payday lending institutions.
Prior to the bill's passage through the Senate Banking Committee last September, Section 10 was also expanded to include a "sense of Congress" provision stipulating that the personal and political beliefs of financial regulators should not influence their decision-making.
Separately on Wednesday, Sen. Jeff Merkley (D-OR) said at a National Cannabis Policy Summit that the section "helped tie the Democratic and Republican supporters together, and it's important element of this bill."
He added that it "has been a really tricky piece, though, because the regulators don't want to be told what to do" and there were "really nitty gritty arguments over every single word in the SAFER Banking Act that affects those customers."
The attorney general, for his part, didn't express an opinion about the broader banking legislation, though he said last year that the Justice Department is "still working on a marijuana policy" amid an ongoing review into cannabis scheduling. The Drug Enforcement Administration (DEA) is currently conducting its own review after receiving a recommendation to reschedule cannabis under the Controlled Substances Act (CSA).
Meanwhile, Garland is also under pressure to issue updated guidance to federal prosecutors to <a href="https://www.marijuanamoment.net/congressional-lawmakers-push-attorney-general-to-issue-overdue-marijuana-guidance-saying-ongoing-legal-limbo-is-unacceptable/">discourage interference in state cannabis programs</a> after an earlier memo was rescinded under the Trump administration.

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'Senator Presses Attorney General Garland On Marijuana Banking Bill's Impact On Criminal Investigations' - Marijuana Moment

Canopy Growth Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) confirmed this week that shareholders gave the green light for the company&#8217;s Canopy USA plans.
This sets the stage for accelerated acquisitions of <a href="https://www.benzinga.com/markets/cannabis/24/04/38251768/canopy-is-cautiously-optimistic-on-cannabis-rescheduling-following-major-step-toward-entry-into-">Wana and other U.S. brands</a>. 
Canopy Growth CEO David Klein and a pair of executives from Wana Brands talked about the opportunity in a panel Wednesday at the <a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">Benzinga Cannabis Capital Conference</a> in Hollywood, Florida.
&#8220;I don&#8217;t think our investors understand the value that sits inside of Canopy. I don&#8217;t think we get any credit for Wana. I don&#8217;t think we get any credit for Jetty or Acreage and I think this new structure will allow us to demonstrate that as we go forward,&#8221; Klein said.
Related Link: <a href="https://www.benzinga.com/markets/cannabis/24/04/38283982/global-cannabis-strategies-post-german-legalization-exclusive-insights-from-curaleaf-gold-flora-">Global Cannabis Strategies Post-German Legalization: Exclusive Insights From Curaleaf, Gold Flora, Verano</a>
What To Know: Earlier this week, Canopy Growth announced that its shareholders voted to approve the spin out of&nbsp;<a href="https://www.greenmarketreport.com/canopy-growth-shareholders-approve-of-canopy-usa/">Canopy USA</a>, which will accelerate Canopy's entry into the U.S. market and allow the company to move quickly to acquire its U.S. assets in Wana Brands, as well as Jetty and Acreage.
Wana Brands entered into an agreement in 2021 to be acquired by Canopy Growth in a deal valued at $279.5 million. The company stood out to Canopy because of the strength of its team, Klein told the crowd at the Benzinga conference.
Nancy Whiteman, co-founder and CEO Wana Brands, built the company from her home kitchen. 
When it reached the point when it was time to take it to the next level, she realized she did not want to be the chief of a public company. So, she began looking for strategic partners.
Canopy understood the &#8220;magic of brands,&#8221; Whiteman said. The key was finding someone who understood that you shouldn&#8217;t acquire successful brands and then try to change them. 
&#8220;We were really looking for the cultural fit with each other and we were really looking for value alignment — people who didn&#8217;t just see cannabis as an alcohol replacement or a way to get high, but who shared our vision for cannabis as a way to enhance lives,&#8221; Whiteman said. 
See Also: <a href="https://www.benzinga.com/markets/cannabis/20/07/16707997/infused-or-sprayed-how-gummies-innovator-wana-brands-tackles-the-tricky-edibles-space">Infused Or Sprayed? How Gummies Innovator Wana Brands Tackles The Tricky Edibles Space</a>
&#8220;I really felt with Canopy we had found the right partner, and I still feel that way.&#8221;
Wana Brands announced this week that Whiteman will be stepping down from her day-to-day role at the end of May to pursue other interests. 
She is set to join Canopy USA&#8217;s board of managers where she will work to drive Canopy USA's strategy, including the integration and future growth of the companies within the Canopy USA ecosystem.
Joe Hodas, chief marketing officer of Wana Brands, is set to take over as CEO. At the Benzinga conference on Wednesday, Hodas said he has an innate understanding of the brand since he helped build it and shares a vision with Whiteman and the team at Canopy. 
Hodas told the crowd that Wana is about to launch in &#8220;several&#8221; new markets and increase its footprint by nearly 25% in the near term. He also suggested that new partnerships could soon be announced. 
The incoming Wana Brands CEO noted that he will be focused on figuring out how to leverage Canopy&#8217;s assets to boost Wana&#8217;s model, but also on how to take existing <a href="https://www.benzinga.com/quote/CGC">Canopy</a> products into new markets with the companies marketing synergies.
&#8220;I think for us, as Wana, we continue to innovate within that category that we know really well, which right now is gummies. And if we find another delivery vehicle that we think is equal to or better than gummies, we&#8217;ll certainly look at that, but gummies work really well and we continue to find a lot of success there,&#8221; Hodas said. 
Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/04/38295035/ric-flair-will-visit-california-dispensary-on-420-for-debut-of-his-cannabis-brand-but-first-meet">Ric Flair Will Visit California Dispensary On 4/20 For Debut Of His Cannabis Brand, But First Meet Him At The Benzinga Conference In Florida</a>
CGC Price Action: <a href="https://www.benzinga.com/quote/CGC">Canopy Growth shares</a> were down 6.27% at $6.28 at the time of publication, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
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Canopy Growth CEO At Benzinga Conference: 'I Don't Think Our Investors Understand The Value That Sits Inside Of Canopy'

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From Benzinga's Cannabis Capital Conference: Wana Brands CMO, Joe Hodas Says Co Is About To Launch In Several New Markets And Co Is Gonna Increase Its Footprint By More Than 25%, Says Co Will Announce New Partnerships As Well

From Benzinga's Cannabis Capital Conference: Wana Brands Co-Founder & CEO, Nancy Whiteman Says With Canopy Growth The Company has Found The Right Partner

The Canadian government unveiled its 2024 budget on Tuesday and there was no excise tax relief for cannabis companies <a href="https://www.benzinga.com/markets/cannabis/24/04/38254095/imported-medical-marijuana-in-australia-not-tested-for-quality-canadas-cannabis-industry-eager-f" target="_blank" rel="noreferrer noopener">the industry was hoping for</a>. 
In February, the House of Commons Standing Committee on Finance recommended limiting the excise tax rate to 10%, igniting optimism across the cannabis space.
Analyst Pablo Zuanic, in a discussion about the impact <a href="https://www.canada.ca/en/health-canada/services/publications/drugs-medication/legislative-review-cannabis-act-final-report-expert-panel.html#a2" target="_blank" rel="noreferrer noopener">potential excise tax changes</a> would have on the cannabis industry, said marijuana businesses could have seen <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37924655/canadian-cannabis-companies-could-see-valuations-soar-by-up-to-300-with-tax-reform-" target="_blank" rel="noreferrer noopener">valuations soar by up to 300% with tax reform</a>. But apparently, this is not going to happen.
The 430-page primary budget document mentions the word "cannabis" only once in relation to the committee&#8217;s plan to present a bill allowing Indigenous governments to create their own value-added sales taxes on certain goods, <a href="https://mjbizdaily.com/no-cannabis-excise-tax-reform-in-2024-canadian-budget/" target="_blank" rel="noreferrer noopener">writes</a> MJBizDaily's Solomon Israel. 
<h2 class="wp-block-heading">Cannabis Businesses Disappointed&nbsp;</h2>
Beena Goldenberg,&nbsp;CEO of&nbsp;Organigram Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OGI#NASDAQ">OGI</a>), a federally licensed producer of cannabis products said in an emailed statement, "Organigram is very disappointed that Deputy Prime Minister Freeland did not announce a review of the cannabis excise framework in Budget 2024."
"Canada's federally licensed cannabis producers struggle to compete with aggressive illicit suppliers, who continue to operate with relative impunity and who are not subject to any regulatory regimen," Goldenberg continued. "The House of Commons Standing Committee on Finance and Health Canada's Expert Panel on the Legislative Review of the Cannabis Act both recognized these pressures and recommended that Finance Canada rework the excise framework. We simply don't understand why the federal government ignored these recommendations."
Irwin Simon, the CEO and chairman of the Canadian cannabis giant Tilray (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) shared the company's disappointment.
"The current tax structure places an unfair burden on legal cannabis companies and hinders our ability to compete with the illicit market," Simon wrote. "At least 123 federal cannabis business licenses either were canceled or pending cancellation in 2023 because of uncollected excise tax, which is a concerning trend for the industry. We urge the government to reconsider this issue and work towards a fair and competitive tax system that supports the growth of the legal cannabis industry in Canada."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We are disappointed that the Canadian government did not take the opportunity to implement cannabis tax reform in the budget. The current tax structure places an unfair burden on legal cannabis companies and hinders our ability to compete with the illicit market. At least 123… <a href="https://t.co/9fKv2rC3Ba">pic.twitter.com/9fKv2rC3Ba</a>
&mdash; Irwin D. Simon (@IrwinDSimon) <a href="https://twitter.com/IrwinDSimon/status/1780379228417982651?ref_src=twsrc%5Etfw">April 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Canopy Growth Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) CEO David Klein also provided a statement. "This oversight signals a lack of commitment to the legal cannabis industry as well as the jobs and economic growth we create. The failure to correct this broken tax regime and to leave other critical issues like potency limits unaddressed will continue to hinder the growth of legal cannabis businesses and compromise consumer access to safe, regulated products."
Unpaid cannabis excise taxes hit CA$273.4 million (about $200 million) close to the end of last year.
Now Read:&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/04/38162783/justin-trudeau-says-there-are-no-downsides-to-cannabis-legalization-slams-international-treaties" target="_blank" rel="noreferrer noopener">Justin Trudeau Says There Are No Downsides To Cannabis Legalization, Slams International Treaties&#8217; Excuse To Reject Reform</a>
Photo: Courtesy of karen roach via Shutterstock

No Cannabis Tax Relief In Canada, Tilray CEO Says This 'Hinders Our Ability To Compete With The Illicit Market'

<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 66.67% at $0.05</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 28.57% at $0.00</li>
<li><a href="https://www.benzinga.com/quote/NDVAF">Indiva</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NDVAF#OTC">NDVAF</a>) shares closed up 24.32% at $0.05</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 15.57% at $0.01</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 13.64% at $0.01</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 up 12.78% at $0.10</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 up 8.21% at $0.19</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 6.42% at $3.17</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 6.41% at $0.01</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 6.00% at $0.03</li>
<li><a href="https://www.benzinga.com/quote/RIV">Rivernorth Opps Fund</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIV#NYSE">RIV</a>) shares closed up 5.75% at $11.26</li>
<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 up 5.36% at $0.03</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 4.35% at $1.65</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 up 4.23% at $0.27</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 up 3.31% at $4.99</li>
</ul>
<h3>LOSERS:</h3>
<ul>
<li><a href="https://www.benzinga.com/quote/INLB">Item 9 Labs</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/INLB#OTC">INLB</a>) shares closed down 33.33% at $0.0002</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 18.33% at $0.49</li>
<li><a href="https://www.benzinga.com/quote/GNLN">Greenlane Hldgs</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GNLN#NASDAQ">GNLN</a>) shares closed down 12.44% at $0.61</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 12.14% at $0.02</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 down 9.79% at $0.02</li>
<li><a href="https://www.benzinga.com/quote/MGCLF">Argent Biopharma</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MGCLF#OTC">MGCLF</a>) shares closed down 7.14% at $0.26</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 6.85% at $5.90</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 down 6.47% at $1.30</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 6.04% at $15.39</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 down 4.93% at $0.91</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 down 4.57% at $6.48</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 4.44% at $0.06</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 4.15% at $6.70</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 down 4.15% at $2.56</li>
<li><a href="https://www.benzinga.com/quote/CRBP">Corbus Pharmaceuticals</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRBP#NASDAQ">CRBP</a>) shares closed down 3.75% at $41.12</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 3.27% at $0.05</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 April 16, 2024

<h3>GAINERS:</h3>
<ul>
<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 26.37% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/GNLN">Greenlane Hldgs</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GNLN#NASDAQ">GNLN</a>) shares closed up 17.52% at $0.70</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 up 16.17% at $16.38</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 up 16.05% at $0.60</li>
<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 up 11.25% at $0.03</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 10.24% at $1.39</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 10.22% at $0.06</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 10.00% at $0.06</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 9.28% at $2.65</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 4.27% at $1.71</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 3.61% at $1.88</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 3.46% at $0.95</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 3.36% at $0.32</li>
</ul>
<h3>LOSERS:</h3>
<ul>
<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 down 77.68% at $0.00</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 21.48% at $0.01</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 down 21.23% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/NDVAF">Indiva</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NDVAF#OTC">NDVAF</a>) shares closed down 18.68% at $0.04</li>
<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 15.63% at $0.00</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 13.48% at $0.01</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 11.28% at $6.98</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 down 9.32% at $0.07</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 8.59% at $0.07</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 7.75% at $0.03</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 7.45% at $0.18</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 7.08% at $0.71</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 6.55% at $1.61</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 down 6.35% at $3.27</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 down 5.61% at $6.28</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 down 4.50% at $1.92</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 3.49% at $0.17</li>
<li><a href="https://www.benzinga.com/quote/RIV">Rivernorth Opps Fund</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIV#NYSE">RIV</a>) shares closed down 3.17% at $11.32</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 down 3.15% at $0.02</li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ACNNF

CLSH

UGRO

Bearish Monday For Marijuana Stocks - AusCann Group Holdings, Target Group Among Top Gainers

<a href="https://www.marijuanamoment.net/marijuana-companies-ask-federal-court-to-set-oral-arguments-on-doj-claim-that-cannabis-tourism-justifies-prohibition-enforcement/">https://www.marijuanamoment.net/marijuana-companies-ask-federal-court-to-set-oral-arguments-on-doj-claim-that-cannabis-tourism-justifies-prohibition-enforcement/</a>
Marijuana companies seeking to shield their in-state activities from federal enforcement are asking a judge to schedule oral arguments in order to respond to arguments the Justice Department made in a recent briefing in the case—including its position that <a href="https://www.marijuanamoment.net/doj-says-state-marijuana-legalization-boosts-tourism-in-court-filing-seeking-dismissal-of-industry-lawsuit/">cannabis legalization attracts out-of-state tourism, empowering it to uphold prohibition</a> under the Constitution.
The marijuana corporations submitted the request for oral arguments with the U.S. District Court for the District of Massachusetts, Western Division on Friday. This comes about a week after DOJ filed a motion to dismiss the suit with the court.
The underlying&nbsp;<a href="https://www.marijuanamoment.net/marijuana-companies-sue-attorney-general-to-block-enforcement-of-unconstitutional-federal-prohibition/">suit against the federal government is being led by multi-state operator Verano Holdings Corp.</a>&nbsp;and the Massachusetts-based cannabis businesses Canna Provisions and Wiseacre Farm, along with Treevit CEO Gyasi Sellers. They're represented by the law firms Boies Schiller and Flexner LLP and Lesser, Newman, Aleo and Nasser LLP.
"The case presents multiple constitutional questions and concerns matters of great importance both in the Commonwealth and nationwide," the law firm representing industry stakeholders said. "Oral argument will allow for a meaningful review of these issues."
Litigator David Boies—whose list of prior clients includes the Justice Department, former Vice President Al Gore and plaintiffs in the case that led to the invalidation of California's ban on same-sex marriage—is leading the suit.
He said in the new one-page letter to Judge Mark G. Mastroianni that oral arguments "would be particularly useful for addressing points raised for the first time in Defendant's reply brief, including whether the Controlled Substances Act's (CSA) bar on intrastate marijuana can be upheld as an attempt to regulate ‘"marijuana tourism.'"
Lawyers for the Justice Department said the government "takes no position on the request for oral argument" in a statement included in the request.
"It is a matter of the Court's discretion whether to hold oral argument," it said. "If the Court elects to hold oral argument, Defendant will be ready to present argument."
Part of DOJ's argument in its filing earlier this month is that it claims "it is rational to conclude that the regulated marijuana industry in Massachusetts fuels a different kind of marijuana-related interstate commerce: marijuana tourism."
"That is especially so because Massachusetts marijuana businesses gross hundreds of millions of dollars in sales each year, and dispensaries such as Canna Provisions cater to out-of-state customers," it states.
In other words, while the plaintiffs' claim is that the Constitution's Commerce Clause should preclude DOJ from interfering in state-legal activity because it is centrally regulated within a state's borders, legalization attracts cannabis tourism from people from states without legal programs who would prefer to buy from regulated storefronts.
"As the Supreme Court held decades ago, Congress has the authority to regulate businesses that cater to tourists from out of state, even if the businesses' transactions occur wholly in-state," DOJ said in the filing.
This all comes in the background of a Drug Enforcement Administration (DEA) review into marijuana scheduling under the CSA. The U.S. Department of Health and Human Services (HHS) has recommended moving cannabis from Schedule I to Schedule III.
And while the Biden administration has maintained that people should not be criminalized over possession or use of marijuana, DOJ has continued to fight reform efforts in courts, including this current case on broad prohibition, as well as litigation challenging the ban on cannabis consumers' gun rights.

FLGC

IMCC

'Marijuana Companies Ask Federal Court To Set Oral Arguments On DOJ Claim That Cannabis 'Tourism' Justifies Prohibition Enforcement' - Marijuana Moment

Canopy Growth Corporation'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>) shareholders approved the creation of a new class of exchangeable shares of the company during their special meeting on Friday, April 12, as recommended earlier <a href="https://www.benzinga.com/markets/cannabis/24/04/38029910/whats-going-on-with-canopy-growth-stock-today">by Institutional Shareholder Services (ISS).</a>
<h3 class="wp-block-heading">What Happened</h3>
At the meeting, shareholders passed a special resolution authorizing an amendment to the company&#8217;s articles of incorporation to create and authorize the issuance of an unlimited number of a new class of non-voting and non-participating exchangeable shares in the capital of Canopy Growth.
The exchangeable shares will not carry voting rights or rights to receive dividends or other rights upon dissolution of Canopy Growth but will be convertible into shares.
A total of 32,250,578 common shares of Canopy, representing 35.40% of the issued and outstanding shares, were voted in connection with the meeting by the company&#8217;s shareholders and proxy holders.
See also: <a href="https://www.benzinga.com/24/03/37444785/canopy-growths-u-s-strategy-whats-next-for-cannabis">Canopy Growth Enters US Market: What&#8217;s Next For The Innovative Cannabis Brand?</a>
<h3 class="wp-block-heading">Why It Matters</h3>
The move enables the acceleration of Canopy Growth&#8217;s entry into the U.S. THC market, which is forecasted to reach roughly $50 billion in 2026, the company said on Monday in a press release.
&#8220;With this successful shareholder vote complete, our Canopy USA strategy is advancing and is poised to make Canopy the first and only U.S. listed cannabis company offering shareholders unique exposure to the rapid growth of the U.S. cannabis market,&#8221; said David Klein, Canopy Growth's CEO who <a href="https://www.benzinga.com/markets/cannabis/22/10/29396521/canopys-shares-slightly-up-on-plans-to-conquer-us-cannabis-market">launched Canopy USA in 2022</a>.
Klein, a speaker at this week&#8217;s <a href="https://www.benzinga.com/events/cannabis-conference/">Benzinga Cannabis Capital Conference</a> in Florida has been directing the company&#8217;s move toward the North American cannabis market since his tenure began in 2020.
<figure class="wp-block-image aligncenter size-full"><a href="https://www.benzinga.com/events/cannabis-conference/"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/15100842/2231044_CCCFloridaGIF_V2_031124-1-34.gif" alt="" class="wp-image-291992" /></a></figure>
<h3 class="wp-block-heading">What's Next</h3>
Canopy USA holds the Company&#8217;s U.S. cannabis investments, which will enable it to exercise rights to acquire Acreage Holdings, Inc. (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/ACRHF#OTCQX">ACRHF</a>), Mountain High Products, LLC, Wana Wellness, LLC and The Cima Group, LLC (collectively, Wana) and Lemurian, Inc. (Jetty).
&#8220;Canopy USA can now move quickly to acquire its U.S. assets in Wana, Jetty, and Acreage, and we expect Canopy Growth to begin highlighting Canopy USA&#8217;s financial performance to our shareholders later this year,&#8221; Klein continued.
He added that the Canadian cannabis giant is "cautiously optimistic" that cannabis will be moved to Schedule III shortly.
"Following this, we expect an immediate enhancement to the cash flow of Wana, Jetty, and Acreage resulting from the removal of the prohibition on business deductions in Section 280 which we expect to help power their growth,&#8221; Klein said.
Now read: <a href="https://www.benzinga.com/markets/cannabis/24/03/37944947/canopy-growth-ceo-says-german-cannabis-market-has-ability-to-grow-10x-following-legalization">Canopy Growth CEO Says German Cannabis Market Has &#8216;Ability To Grow 10x&#8217; Following Legalizati</a><a href="https://www.benzinga.com/markets/cannabis/24/03/37944947/canopy-growth-ceo-says-german-cannabis-market-has-ability-to-grow-10x-following-legalization">on</a>
<h3 class="wp-block-heading">CGC Price Action</h3>
Canopy Growth's shares traded 7.31% lower at $7.23 per share at the time of writing on Monday morning. 
The <a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">Benzinga Cannabis Capital Conference</a> is happening in Florida at a new venue in Hollywood on April 16-17. The two-day event at <a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">The Diplomat Beach Resort</a> will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.
<a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener">Get your tickets now on </a><a href="http://bzcannabis.com" target="_blank" rel="noreferrer noopener">bzcannabis.com</a><a href="https://www.benzinga.com/events/cannabis-conference/" target="_blank" rel="noreferrer noopener"> – Prices will increase very soon!</a>

ACRHF

TSX:WEED

WEED

Canopy Is 'Cautiously Optimistic' On Cannabis Rescheduling Following Major Step Toward Entry Into US THC Market

Canopy Growth Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) shares are trading lower. The company on Monday announced the results of its <a href="https://www.benzinga.com/pressreleases/24/04/n38245393/canopy-growth-announces-results-of-special-meeting-of-shareholders">special meeting of shareholders</a>.
What Happened: Canopy Growth announced that its shareholders approved the creation of a new class of Canopy Growth stock at its special meeting of shareholders on Friday. 95.56% of votes cast were in favor of the proposal. 
The overwhelming approval authorizes the issuance of an unlimited number of a new class of non-voting and non-participating exchangeable shares in the capital of Canopy Growth. The company also noted that the new class of exchangeable shares will accelerate Canopy Growth&#8217;s entry into the U.S. THC market. 
&#8220;With this successful shareholder vote complete, our Canopy USA strategy is advancing and is poised to make Canopy the first and only U.S. listed cannabis company offering shareholders unique exposure to the rapid growth of the U.S. cannabis market,&#8221; said David Klein, CEO of Canopy Growth. 
&#8220;Canopy USA can now move quickly to acquire its U.S. assets in Wana, Jetty, and Acreage, and we expect Canopy Growth to begin highlighting Canopy USA&#8217;s financial performance to our shareholders later this year.&#8221;
Potential benefits of Canopy&#8217;s USA strategy include a fast tracked entry into the world&#8217;s largest and fast growth cannabis market, the establishment of a new brand focused portfolio and financial benefits via revenue and cost synergies within Canopy USA. 
&#8220;Buoyed by recent comments from the President and the Vice-President, Canopy Growth continues to be cautiously optimistic that cannabis will be moved to Schedule III in the near-term. Following this, we expect an immediate enhancement to the cashflow of Wana, Jetty, and Acreage resulting from the removal of the prohibition on business deductions in Section 280 which we expect to help power their growth,&#8221; Klein added.
Check This Out: <a href="https://www.benzinga.com/markets/cannabis/24/04/38248838/international-expansion-drives-growth-for-this-canadian-cannabis-producer-as-it-reports-record-q">International Expansion Drives Growth For This Canadian Cannabis Producer As It Reports Record Q1 Revenue</a>
CGC Price Action: <a href="https://www.benzinga.com/quote/CGC">Canopy Growth shares</a> are up approximately 42% since the start of the year. The stock was down 6.86% at $7.26 at the time of publication, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: Wally Crawfish from Pixabay.

What's Going On With Canopy Growth Stock?

<h3>GAINERS:</h3>
<ul>
<li><a href="https://www.benzinga.com/quote/NDVAF">Indiva</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NDVAF#OTC">NDVAF</a>) shares closed up 37.88% at $0.05</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 up 26.45% at $0.02</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 25.21% at $0.04</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 24.17% 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 up 10.14% 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 up 6.82% at $14.10</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 6.74% at $2.75</li>
<li><a href="https://www.benzinga.com/quote/GNLN">Greenlane Hldgs</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GNLN#NASDAQ">GNLN</a>) shares closed up 5.28% at $0.60</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 4.37% at $3.32</li>
</ul>
<h3>LOSERS:</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 down 38.32% at $0.03</li>
<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 13.51% at $0.00</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 down 10.29% at $0.92</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 9.69% at $0.31</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 9.52% at $0.10</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 8.78% at $4.83</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 8.11% at $2.38</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 down 7.35% at $0.04</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 6.98% at $2.00</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 down 6.90% 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 5.19% at $0.21</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 4.91% at $0.03</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 4.66% at $7.80</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 down 4.65% at $1.64</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 4.35% at $0.20</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 down 4.31% at $2.00</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 4.21% at $1.83</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 3.95% at $6.60</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 3.33% at $69.44</li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

BLGVF

CWBHF

MGWFF

Cannabis Stock Movers For April 12, 2024

<h3>GAINERS:</h3>
<ul>
<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 up 31.24% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/INLB">Item 9 Labs</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/INLB#OTC">INLB</a>) shares closed up 27.12% at $0.0003</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 22.00% at $0.05</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 up 14.52% at $0.04</li>
<li><a href="https://www.benzinga.com/quote/GNLN">Greenlane Hldgs</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GNLN#NASDAQ">GNLN</a>) shares closed up 11.97% at $0.57</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 up 11.94% at $0.10</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 8.66% at $2.82</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 8.39% at $6.65</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 up 8.16% at $0.18</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 up 7.00% at $0.51</li>
<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 up 5.71% at $0.00</li>
<li><a href="https://www.benzinga.com/quote/CRBP">Corbus Pharmaceuticals</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRBP#NASDAQ">CRBP</a>) shares closed up 4.85% at $40.00</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 4.59% at $0.03</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 4.46% at $3.20</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 4.02% at $2.59</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 3.09% at $0.21</li>
</ul>
<h3>LOSERS:</h3>
<ul>
<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 down 20.87% at $0.01</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 18.52% 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 14.72% at $0.01</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 11.11% 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 10.39% at $0.03</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 10.20% at $8.15</li>
<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 9.71% at $0.02</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 8.64% 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 5.94% at $1.90</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 5.39% at $1.60</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 5.24% at $0.07</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 3.63% at $0.26</li>
<li><a href="https://www.benzinga.com/quote/SOL">Emeren Group</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOL#NYSE">SOL</a>) shares closed down 3.27% at $2.18</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 3.15% at $0.93</li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

EAST

Marijuana Stock Movers For April 11, 2024

Canopy Growth shares on track for its seventh day trading in the red

Canopy Growth (CGC) has issued an announcement. Canopy Growth's shareholders convened on April 12, 2024, for a pivotal Special Meeting, with a turn...

Canopy Growth Shareholders Back Strategic Exchangeable Shares Move

The past, present and future of the Canadian cannabis sector based on the performance of the MCCCI, which is a proprietary index of 14 stocks.

The Canadian Cannabis Report - Monday, April 15

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
<a href="https://investorplace.com/industries/healthcare/cannabis/">Cannabis stocks</a> to buy now could see higher highs, as we near the U.S. elections.&nbsp;



For one, a growing number of Americans want to see legalization. In fact,&nbsp;<a href="https://www.pewresearch.org/short-reads/2024/04/10/facts-about-marijuana/#:~:text=An%20overwhelming%20majority%20of%20U.S.,over%20the%20past%20five%20years.">according to Pew Research, about 88%</a>&nbsp;of the country wants to see that happen. Two, with its popularity, any candidate that favorably mentions it, could see higher ratings.&nbsp;



In addition, more U.S. states, such as Florida may be on the cusp of adult-use legalization.&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/04/38275122/exclusive-florida-on-cusp-of-adult-use-legalization-cannabis-sales-boom-ceo-tells-benzinga-confe">As noted by Benzinga.com</a>, &ldquo;At the beginning of April, the Florida Supreme Court&nbsp;proposed Amendment 3, which would legalize adult non-medical personal use of marijuana products and accessories. If approved, the proposal would take effect in May 2025.&rdquo;&nbsp;



Also, while the Drug Enforcement Agency (DEA) has not given a timeline for potential cannabis rescheduling, there is speculation it could happen prior to the November election. With the fight for legalization, any positive mentions could drive cannabis stocks to higher highs.



Here are three of the top ones you may want to buy and hold today.



<h2>Canopy Growth (CGC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/cgc-1600-1-300x169.png" alt="Closeup of mobile phone screen with logo lettering of cannabinoid company canopy growth cannabis, blurred marijuana in the background. CGC stock."><div>Source: Ralf Liebhold / Shutterstock</div></div>Once left for dead,&nbsp;Canopy Growth&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/cgc-stock-quote/">CGC</a>) recently ran from a low of $2.75 to a high of $11.57. Now back to $6.70, it&rsquo;s a buy on weakness. Helping, the company&rsquo;s shareholders just&nbsp;<a href="https://www.prnewswire.com/news-releases/canopy-growth-announces-results-of-special-meeting-of-shareholders-302116163.html">approved the creation of a new class of Exchangeable Shares</a>, which will allow Canopy to acquire U.S. assets and give it access to a potential $50 billion market.&nbsp;



&ldquo;With this successful shareholder vote complete, our Canopy&nbsp;USA&nbsp;strategy is advancing and is poised to make Canopy the first and only U.S. listed cannabis company offering shareholders unique exposure to the rapid growth of the U.S. cannabis market,&rdquo;&nbsp;<a href="https://www.prnewswire.com/news-releases/canopy-growth-announces-results-of-special-meeting-of-shareholders-302116163.html">said&nbsp;David Klein, Chief Executive Officer of Canopy Growth</a>. &ldquo;Canopy&nbsp;USA&nbsp;can now move quickly to acquire its U.S. assets in Wana, Jetty, and Acreage, and we expect Canopy Growth to begin highlighting Canopy&nbsp;USA&rsquo;s&nbsp;financial performance to our shareholders later this year.&rdquo;



Even better for Canopy Growth, the head of the&nbsp;<a href="https://www.marijuanamoment.net/watch-live-fda-commissioner-testifies-on-hemp-regulatory-issues-at-congressional-hearing/">U.S. Food and Drug Administration just said there&rsquo;s &ldquo;no reason&rdquo;</a>&nbsp;for the DEA to delay its decision to reschedule.&nbsp;



<h2>Trulieve Cannabis (TCNNF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/05/tcnnf-stock-1600-300x169.jpg" alt="Florida licensed medical marijuana cannabis provider Trulieve"><div>Source: Leigh Trail / Shutterstock.com</div></div>Another hot cannabis stock to buy is&nbsp;Trulieve Cannabis&nbsp;(OTCKMKTS:<a href="https://investorplace.com/stock-quotes/tcnnf-stock-quote/">TCNNF</a>).



After exploding from about $4 to a high of $13.75, it now trades at $10.70, where it&rsquo;s again a buy. From its current price, I&rsquo;d like to see it initially retest $13.75 and head to $20 long term.



If Florida approves adult-use legalization, TCNNF would benefit significantly as the state&rsquo;s leading cannabis retailer. &ldquo;If passed, the possession of up to three ounces of cannabis will be legal for adults as early as May 2025, transforming the state&rsquo;s&nbsp;medical marijuana&nbsp;market, estimated to generate $2B in annual sales,&rdquo;&nbsp;<a href="https://seekingalpha.com/news/4087333-trulieve-led-florida-cannabis-campaign-gathers-steam">says Seeking Alpha</a>.



<a href="https://www.tipranks.com/news/the-fly/trulieve-best-positioned-for-florida-adult-use-vote-says-alliance-global">Alliance Global Partners also noted TCNNF is best positioned</a>&nbsp;after the recent decision from the Florida State Supreme Court.&nbsp;



While revenue did decline about 7% year over year to $1.13 billion in 2023, the company generated $202 million in cash flow from operations and $161 million in free cash flow. It also increased its retail footprint to 192 locations across the country.



<h2>Green Thumb Industries (GTBIF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/01/marijuana1600e-300x169.jpg" alt="Marijuana plants growing in a greenhouse."><div>Source: Shutterstock</div></div>Another hot cannabis stock to consider is&nbsp;Green Thumb Industries&nbsp;(OTCMKTS:<a href="https://investorplace.com/stock-quotes/gtbif-stock-quote/">GTBIF</a>).



After bottoming out at around $8, it hit a recent high of $15.51 before backing off to $12.42. From here, I&rsquo;d like to see GTBIF initially retest its prior high.&nbsp;



Analysts like the stock here, too.&nbsp;<a href="https://www.tipranks.com/news/the-fly/green-thumb-industries-price-target-raised-to-16-from-14-at-craig-hallum?utm_source=markets.businessinsider.com&amp;utm_medium=referral">Craig-Hallum</a>, for example, recently raised its price target to $16 with a buy rating. The firm noted that GTBIF expanded its full-year gross and EBITDA margins and generated $225 million in cash flow.&nbsp;<a href="https://www.tipranks.com/news/the-fly/green-thumb-industries-price-target-raised-to-21-from-16-at-roth-mkm?utm_source=markets.businessinsider.com&amp;utm_medium=referral">Roth MKM also raised its price target</a>&nbsp;to $21 with a buy rating.&nbsp;<a href="https://markets.businessinsider.com/news/stocks/haywood-sticks-to-their-buy-rating-for-green-thumb-industries-gtbif-1033129449">Analysts at Needham</a>&nbsp;also raised their price target to $15 with a buy rating.



In addition, the company authorized a $50 million buyback program, which now brings its total repurchase plan to about $60 million.&nbsp;



&ldquo;We delivered a strong fourth quarter, including record revenue of $278 million, record Adjusted EBITDA of $91 million, and full year 2023 cash flow from operations of $225 million&mdash;all the while investing over $200 million in capex to fuel future growth. We ended the year with a strong balance sheet including $162 million in cash, net of $65 million returned to shareholders via share buybacks and debt repurchases,&rdquo;&nbsp;<a href="https://www.cannabisbusinesstimes.com/news/green-thumb-industries-2023-financial-results/">said Green Thumb Founder, Chairman and Chief Executive Officer Ben Kovler</a>.



On the date of publication, Ian Cooper did not hold (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines.</a>
<div>Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.</div><h3>More From InvestorPlace</h3>
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CGC, GENE and HOLO among mid-day movers

Canopy Growth, Aurora climb amid SAFER Banking Act push

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
 Among the unlikely winners that are once again seeing strong interest in today&rsquo;s market, Canopy Growth (NASDAQ:<a href="https://investorplace.com/stock-quotes/cgc-stock-quote/">CGC</a>) is on a tear. Shares of CGC stock are up a whopping 25% in early afternoon trading, prompting questions of whether this stock is due for a short squeeze.



With short interest as a percentage of the company&rsquo;s float sitting at <a href="https://www.marketbeat.com/stocks/NASDAQ/CGC/short-interest/">about 15%</a>, it&rsquo;s clear many in the market are taking the other side of this move. That said, when a stock is surging in this magnitude, short sellers can see their trades blow up in their faces very quickly. This sort of spiral is what many appear to be betting on right now.



Fueling this fire is increasingly positive sentiment around cannabis rescheduling and legalization in the U.S. market. Canopy Growth notably <a href="https://mjbizdaily.com/canopy-stockholders-ok-share-structure-for-us-marijuana-holding-company/">announced</a> plans to plans to enter the U.S. cannabis market via plans to launch Canopy Growth USA. This proposal was approved by a shareholder vote recently.



Let&rsquo;s dive into these dynamics and see what to make of this move. 



<h2>CGC Stock Surges on Short Squeeze Hopes</h2>



Given how far Canopy Growth has declined over the last year, it&rsquo;s perfectly reasonable to assume some amount of short squeeze interest exists with this stock. Indeed, a 25% move on very high volume suggests some traders are getting blown up as we speak. 



The stock&rsquo;s short interest remained muted during its decline. That makes sense, as a given stock becomes riskier to short the lower it goes. 



But with today&rsquo;s rise, we&rsquo;re seeing a surge of short interest once again. I&rsquo;d expect that number to continue rising, given the bearish sentiment baked into investors&rsquo; minds, at least in recent years. 



Of course, we&rsquo;ll have to see if the U.S. legalization or rescheduling of cannabis takes place. For now, higher probabilities are driving interest across the board. That could, maybe, just be enough to drive a short-term short squeeze in this stock. We&rsquo;ll see.



On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Chris MacDonald&rsquo;s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.</div><h3>More From InvestorPlace</h3>
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AILE

ALRN

BNTC

BPTH

CNBS

EDBL

HOLO

ICLK

MEDIF

MIGI

NRXP

SINT

SWVL

THCH

THCX

TOON

WISA

XPON

Press Releases

CANOPY GROWTH CELEBRATES PASSAGE OF CANNABIS LEGALIZATION IN GERMANY

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Navigating the Growing Cannabis Stock Landscape in 2024

CANOPY GROWTH ANNOUNCES RESULTS OF SPECIAL MEETING OF SHAREHOLDERS

Canopy Growth Announces CBI Conversion to Exchangeable Shares and Newly Constituted Board of Directors