Latest news for Quantum BioPharma (NASDAQ:QNTM) Stock

FSD Pharma Inc is a biopharmaceutical company developing three clinical candidates with the potential to address neuropsychiatric, neurodegenerative, and inflammatory disorders. Along with its subsidiaries, the group is focused on pharmaceutical research and development of its compound, FSD201, an ultra-micronized PEA, for the treatment of inflammatory diseases; Lucid-Psych is used in the treatment of mental health disorders and Lucid-MS is used in the treatment of neurodegenerative disorders. The company operates in two segments: Biopharmaceutical and Strategic Investments.

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Why Greenland Technologies Shares Are Trading Higher By Around 40%; Here Are 20 Stocks Moving Premarket

Quantum Biopharma Ltd. - Class B Subordinate Voting Shares

Quantum BioPharma Ltd

In a recent series of equity research reports, Pablo Zuanic of Zuanic &amp; Associates provided a detailed analysis of the Q2 2024 performance for three major players in the cannabis industry: Verano Holdings (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/VRNOF#OTCQX">VRNOF</a>), Green Thumb Industries (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTCQX">GTBIF</a>) and MariMed Inc. (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/MRMD#OTCQX">MRMD</a>). 
<h3 class="wp-block-heading">Verano Holdings: Strategic Acquisitions And Stable Growth&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</h3>
Verano Holdings achieved a 6% quarter-over-quarter revenue increase, reaching $233 million. The company partly attributes this growth to its ongoing expansion in key markets, including recent agreements to acquire operations in Virginia and Arizona from The Cannabist Company. Zuanic highlighted that these acquisitions, expected to close in 2025, will further strengthen Verano&#8217;s market position.
The report highlighted that Verano&#8217;s adjusted EBITDA margin slightly improved from 35.6% in Q1 2024 to 36.2% in Q2, driven by cost efficiencies and a favorable product mix. Despite these trends, the stock's valuation remains conservative, with an EV/EBITDA multiple of 8.4x based on Zuanic's estimates.
<h3 class="wp-block-heading">Green Thumb Industries: Market Expansion And Financial Resilience</h3>
Meanwhile, Green Thumb Industries demonstrated robust performance in Q2 2024, with revenue growing 10% year-over-year to $335 million. Zuanic's analysis emphasized that Green Thumb's ability to maintain an adjusted EBITDA margin of 32.5% highlights its operational resilience.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/08/40175373/green-thumbs-q2-revenue-soars-11-to-280m-is-rising-cost-something-to-watch">Green Thumb&#8217;s Q2 Revenue Soars 11% To $280M, Is Rising Cost Something To Watch?</a>
The report also highlighted that Green Thumb&#8217;s management focuses on disciplined capital allocation, reflecting in the company&#8217;s strong free cash flow of $45 million for the quarter. The company's valuation, with a forward EV/EBITDA multiple of 10x, favorably positions it compared to peers.
<h3 class="wp-block-heading">MariMed: Focused Growth Amid Market Challenges</h3>
Finally, MariMed Inc. <a href="https://www.benzinga.com/markets/cannabis/24/08/40250157/marimed-revenue-grows-10-7-qoq-hires-new-cfo-and-remains-on-track-to-deliver-2024-financial-targ">reported</a> a modest revenue increase of 4% year-over-year, totaling $37 million for Q2 2024. Zuanic noted that while the company&#8217;s top-line growth was slower compared to its peers, MariMed&#8217;s focus on organic growth and an improved EBITDA margin of 20.4%, up from 19.8% in the previous quarter.
<a href="https://www.benzinga.com/topic/pablo-zuanic">Zuanic's report</a> also discussed MariMed's strategic decision to refrain from share buybacks <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40326967/cannabis-rescheduling-likely-in-the-next-12-months-says-marimed-ceo-as-company-inve">despite market inefficiencies</a>. MariMed's stock trades at a forward EV/EBITDA multiple of 7.5x, suggesting it may be undervalued relative to its growth potential.
Read Next:<a href="https://www.benzinga.com/markets/cannabis/24/08/40218413/verano-holdings-q2-222m-revenue-in-line-qoq-net-loss-widens-to-22m-ahead-of-cannabist-co-acquisi"> Verano Holdings Q2 $222M Revenue In Line QoQ, Net Loss Widens To $22M Ahead of Cannabist Co. Acquisition</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 industry. Hear directly from top executives, investors, advocates, and policymakers. <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 go up 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>.
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Analyst Color

Cannabis

Guidance

Retail Sales

Analyst Ratings

GTBIF

MRMD

VRNOF

Verano, Green Thumb & MariMed's Strong Q2: Unpacking The Cannabis Earnings Surge

California&#8217;s Senate Appropriations Committee unanimously approved a bill Thursday that would introduce a new license permitting small marijuana growers to sell their products directly to consumers at state-organized farmers markets and other <a href="https://www.benzinga.com/topic/california-cannabis">temporary events. </a>
<h3 class="wp-block-heading">Key Details Of New Cannabis Legislation</h3>
The bill, spearheaded by Assemblymember Gail Pellerin (D), received a 4-0 vote in the Senate Appropriations Committee, allows adults to consume cannabis on-site at these approved events, Marijuana Moment <a href="https://www.marijuanamoment.net/california-senators-approve-bill-to-let-marijuana-growers-sell-directly-to-consumers-at-farmers-markets/">reported.</a>
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/08/40274507/californias-war-on-illegal-cannabis-120m-seized-37-tons-of-marijuana-destroyed-so-far-in-2024">California&#8217;s War On Illegal Cannabis: $120M Seized, 37 Tons Of Marijuana Destroyed So Far In 2024</a>
Following its approval in the Assembly in late May, where it garnered near-unanimous support, the legislation has advanced through two Senate committees and now awaits a vote on the Senate floor.
If the bill passes, it will return to the Assembly to address Senate amendments, including a stipulation that the new license would only apply to &#8220;state temporary events,&#8221; rather than the broader &#8220;specified temporary events&#8221; initially proposed. Additionally, the legislation has been amended to delay implementation until January 1, 2026.
Under the proposed bill, the Department of Cannabis Control (DCC) would be empowered to issue a &#8220;state temporary event license&#8221; for onsite cannabis sales and consumption at venues approved by local jurisdictions. 
To qualify for this license, applicants must be classified as small marijuana producers, defined as those cultivating no more than one acre of cannabis or certain smaller areas under specific cultivation licenses.
<h3 class="wp-block-heading">What The New Bill Means For Consumers</h3>
This proposed legislation builds on a 2018 California law that allowed temporary marijuana event licenses in jurisdictions where local governments approved them. This policy change facilitated marijuana sales and consumption at the <a href="https://www.benzinga.com/markets/cannabis/24/07/39782466/californias-first-cannabis-friendly-state-fair-with-on-site-sales-and-consumption">California State Fair for the first time</a> this year.
In parallel, New York recently passed similar legislation that would make cannabis farmers markets a permanent feature of its cannabis market. This measure aims to revive and continue the growers&#8217; showcase events that were previously authorized but ended last year.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/06/39280843/ny-approves-farmers-markets-fl-voters-eye-legalization-amid-banking-reform-stall-ca-advances-lou">NY Approves Farmers Markets, FL Voters Eye Legalization Amid Banking Reform Stall, CA Advances Lounge Bill &amp; More</a></li>
</ul>
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Government

California Senate Moves Forward With Bill To Allow Cannabis Sales And Consumption At Farmers Markets

Stifel maintains Quipt Home Medical (TSX:<a class="ticker" href="https://www.benzinga.com/stock/QIPT#TSX">QIPT</a>) with a Buy and lowers the price target from C$9.5 to C$8.5.

Price Target

TSX:QIPT

Stifel Maintains Buy on Quipt Home Medical, Lowers Price Target to C$8.5

The German Federal Office for Consumer Protection and Food Safety issued a warning against gummy bears containing the hallucinogenic fly agaric mushroom toxin muscimol,<a href="https://aussiedlerbote.de/en/federal-agency-warns-of-rubber-bears-with-fly-fungus-venom/" target="_blank" rel="noreferrer noopener"> reported</a> ASB Zeitung.
<a target="_blank" href="https://www.benzinga.com/markets/cannabis/24/05/36869689/how-can-amanita-muscaria-mushroom-products-meet-quality-and-safety-standards" rel="noreferrer noopener">Amanita muscaria</a>, commonly known as the fly agaric or fly amanita, is a psychoactive mushroom with a distinct red or orange cap adorned with white dots and a tall white stalk. The toxin in question, muscimol, is extracted from the fungus of this mushroom.
The federal agency is warning against products from Berlin-based company Deutschen Cannabis Manufaktur (DCM), which are available online. These gummies, sold in a package of two with the following description: "First, you take a trip in the forest, then the forest takes you on a trip," <a href="https://www.the-berliner.com/english-news-berlin/fly-agaric-muscimol-mushroom-gummies-german-state-agency-warning/" target="_blank" rel="noreferrer noopener">writes </a>The Berliner. The label also warns consumers that two gummies equal "serious stuff" and are "only for experienced users."
The Federal Office for Consumer Protection is not banning these products, just warning consumers of the possible negative effects. The agency cautions that these mushroom gummies are "harmful to health and are particularly dangerous for children, as the product can be confused with normal sweets."
Read Also: <a target="_blank" href="https://www.benzinga.com/markets/cannabis/22/10/29363286/i-tried-amanita-muscaria-the-delta-8-of-mushrooms-heres-how-it-went" rel="noreferrer noopener">I Tried Amanita Muscaria, The &#8216;Delta-8 Of Mushrooms,&#8217; Here&#8217;s How It Went</a>
Muscimol is known to cause dizziness, nausea, fatigue, a feeling of weightlessness, visual and auditory hypersensitivity, space distortion, unawareness of time, and hallucinations, according to a <a href="https://www.ajpmonline.org/article/S0749-3797(24)00163-6/fulltext#seccesectitle0007" target="_blank" rel="noreferrer noopener">paper</a> published in the American Journal of Preventive Medicine. "While some of these effects are similar to those associated with "classical psychedelics" like psilocybin, muscimol does not interact with serotonin 5-HT2A receptors, like psilocybin and other ‘classical psychedelics,'" the authors wrote.
The paper raises a case for improved regulation in "light of serious safety concerns." In the U.S., amanita muscaria is not on the Controlled Substances Act (CSA). Since states have the right to criminalize drugs that the Food and Drug Administration does not, Louisiana was quick to enforce a ban. It is possible that other states will follow, given the "potential toxicity concerns," <a href="https://harris-sliwoski.com/psychlawblog/whats-the-deal-with-amanita-muscaria/" target="_blank" rel="noreferrer noopener">writes</a> Harris Sliwoski's attorney Griffen Thorne.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/08/40369868/medical-marijuana-imports-in-germany-increase-51-yoy-following-reform-cannabis-clubs-still-face-" target="_blank" rel="noreferrer noopener">Medical Marijuana Imports In Germany Increase 51% YoY Following Reform, Cannabis Clubs Still Face Bureaucratic Challenges</a></li>
</ul>
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Psychedelics

Eurozone

German Authorities Issue Warning About Gummies Containing The Hallucinogenic Amanita Muscaria Mushroom

BTIG analyst Mark Massaro maintains Personalis (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSNL#NASDAQ">PSNL</a>) with a Buy and raises the price target from $5.5 to $7.

PSNL

BTIG Maintains Buy on Personalis, Raises Price Target to $7

China has announced a significant policy change that will tighten regulations on <a href="https://www.benzinga.com/topic/cannabidiol">cannabidiol</a> (CBD), categorizing it as a precursor chemical starting September 1, 2024. This would tighten controls over hemp, which might be linked to the expansion of synthetic derivates products. The U.S. Department of Agriculture (USDA), which seeks to <a href="https://www.benzinga.com/markets/cannabis/24/01/36743012/usda-intensifies-hemp-industry-analysis-with-nationwide-farmer-surveys">support hemp </a>development, has advised stakeholders of the new rules. 
The announcement by the State Food and Drug Administration and others ministers of the People's Republic of China (PRC),was not issued in English. The USDA provided an &#8220;unauthorized&#8221; <a href="https://apps.fas.usda.gov/newgainapi/api/Report/DownloadReportByFileName?fileName=Cannabidiol%20to%20be%20Regulated%20as%20Precursor%20Chemical_Beijing_China%20-%20People%27s%20Republic%20of_CH2024-0101.pdf">translation</a>, <a href="https://www.marijuanamoment.net/usda-advises-hemp-industry-that-china-is-tightening-cbd-rules-but-says-it-could-benefit-businesses/">reported</a> Marijuana Moment.
<h3 class="wp-block-heading">Hemp Regulation Changes In China</h3>
The announcement will subject CBD and six other substances to stricter controls, per the translated announcement. The new regulations will affect the licensing, reporting, and export of <a href="https://www.benzinga.com/topic/cbd">CBD products</a>. Despite the added regulatory layers, the US agriculture department notes potential business benefits.
One possible upside is that CBD will now have a clear harmonized tariff system, which could simplify the export process for companies that comply with these new regulations. At the moment, CBD production in China is limited to the regions of Yunnan and Heilongjiang. However, under the new rules, licensed businesses can legally produce and market CBD nationwide, potentially expanding the market.
<ul>
<li>Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/39840487/green-wave-in-germany-now-includes-hemp-new-bill-promotes-industrial-production">Green Wave In Germany Now Includes Hemp, New Bill Promotes Industrial Production</a></li>
</ul>
<h3 class="wp-block-heading">Hemp Industry Implications</h3>
While these changes present additional hurdles for CBD producers, they also open new avenues for international trade and commercial growth. The USDA highlights that this clear regulatory framework could ultimately benefit the U.S. hemp industry, allowing for more streamlined trade with China. Though businesses will need to navigate the more <a href="https://www.benzinga.com/markets/cannabis/21/08/22474624/using-hemp-to-build-bridges-between-canada-and-china-the-mary-ag-story">stringent controls </a>to capitalize on these opportunities.
<h3 class="wp-block-heading">China's Role In The Expanding Hemp Market</h3>
The industrial hemp market is on the brink of significant growth, projected to <a href="https://www.benzinga.com/markets/cannabis/24/08/40418137/industrial-hemps-14b-projected-growth-an-investment-opportunity-too-good-to-miss">expand by $13.90 billion</a> from 2024 to 2028, driven by its diverse applications in textiles, food and personal care products. With an expected compound annual growth rate (CAGR) of over 25.25%, the Asia-Pacific (APAC) region, particularly China, is poised to play a vital role in this expansion. Contributing approximately 39% to the global market, China alone accounted for 26.27% of the market in 2022.
<ul>
<li>Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/08/40418137/industrial-hemps-14b-projected-growth-an-investment-opportunity-too-good-to-miss">Industrial Hemp&#8217;s $14B Projected Growth: An Investment Opportunity Too Good To Miss</a></li>
</ul>
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/cannabis-conference/"><img loading="lazy" decoding="async" width="970" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/16134625/CCC-Oct-24-Banner-1-62.gif" alt="" class="wp-image-499590" /></a></figure>

Asia

Regulations

China Tightens CBD Regulations As US Department Of Agriculture Sees Potential Benefits For Hemp Industry

Itau BBA upgrades CI&amp;T (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CINT#NYSE">CINT</a>) from Market Perform to Outperform and announces $10 price target.

Upgrades

CINT

Itau BBA Upgrades CI&T to Outperform, Announces $10 Price Target

ECD Automotive Design, Inc. ("ECD" or the "Company") (NASDAQ:<a href="https://www.benzinga.com/stock/ECDA#NASDAQ">ECDA</a>), an industry leader in delivering restored, modified and electrified Land Rover Defenders, Jaguars, and other classic and collectible automobiles, today announced that the Company received a delisting notice from The Nasdaq Stock Market LLC ("Nasdaq").
As previously disclosed in the Current Reports on Form 8-K filed with the Securities and Exchange Commission (the "SEC") on February 16, 2024 by the Company, on February 14, 2024, the Company received a notice from Nasdaq stating that the Company's listed securities failed to comply with the $50,000,000 market value of listed securities ("MVLS") requirement for continued listing on The Nasdaq Global Market in accordance with Nasdaq Listing Rule 5450(b)(2)(A) (the "Rule"). The Company was provided a period of 180 calendar days, or until August 12, 2024, in which to regain compliance.

ECDA

ECD Automotive Design Receives Nasdaq Delisting Notification

Asset Sales

ERIC

Ericsson's Cash Benefit From The Transaction, After The Settlement Of Anticipated Taxes, Transaction Expenses, And Other Liabilities, Is Expected To Be ~$1B

Zoetis's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>) short percent of float has fallen 11.21% since its last report. The company recently reported that it has 4.65 million shares sold short, which is 1.03% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.45 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Zoetis Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1723841121_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Zoetis has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Zoetis's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Zoetis's peer group average for short interest as a percentage of float is 4.53%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

How Is The Market Feeling About Zoetis?

Dutch Bros's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BROS#NYSE">BROS</a>) short percent of float has fallen 23.01% since its last report. The company recently reported that it has 9.26 million shares sold short, which is 8.7% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.98 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Dutch Bros Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1723841115_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Dutch Bros has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Dutch Bros's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Dutch Bros's peer group average for short interest as a percentage of float is 10.02%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

BROS

(BROS) - Analyzing Dutch Bros's Short Interest

Ansys's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANSS#NYSE">ANSS</a>) short percent of float has fallen 18.22% since its last report. The company recently reported that it has 1.28 million shares sold short, which is 1.93% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.22 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Ansys Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1723841110_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Ansys has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Ansys's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Ansys's peer group average for short interest as a percentage of float is 2.67%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

ANSS

(ANSS) - Analyzing Ansys's Short Interest

WIIM

ICCT

iCoreConnect shares are trading higher after the company reported a year-over-year increase in Q2 sales results.

The 2024 U.S. presidential election marks a notable moment for the cannabis industry. Kamala Harris and Tim Walz formed the first explicitly <a href="https://www.benzinga.com/markets/cannabis/24/08/40195374/kamala-harris-vp-pick-tim-walz-first-explicitly-pro-cannabis-legalization-presidential-ticket-in">pro-cannabis legalization ticket in history</a>. This development has sparked discussions about how a Harris-Walz administration might influence federal cannabis policy and what it could mean for the industry&#8217;s future.
<h3 class="wp-block-heading">Potential Federal Policy Shifts</h3>
Jamie L. Pearson, president of New Holland Group, Inc. and upcoming speaker at the <a href="https://www.benzinga.com/events/cannabis-conference/">Benzinga Cannabis Capital Conference</a>, highlighted the importance of having pro-cannabis leadership at the highest levels of government. 
While this is a promising development, Pearson noted that the unpredictability of current judicial decisions could complicate efforts to advance cannabis legalization.
&#8220;While having pro-cannabis leadership will certainly help more than hurt, the current SCOTUS rulings present a curveball with implications that are hard to predict,&#8221; Pearson commented. She says even with a Harris presidency, the road to full legalization may be slow and complex, influenced by the intricate workings of American politics.
<h3 class="wp-block-heading">Investor Confidence and Market Dynamics</h3>
Pearson also addressed the potential impact of this political shift on investor confidence. A Harris-Walz victory could lead to optimism among investors, particularly those eyeing the cannabis industry. However, Pearson cautioned that this initial boost might be followed by a pullback as investor sentiment remains closely tied to concrete legislative changes. 
&#8220;If the Harris/Walz ticket wins, I predict there will be a giant surge in investor confidence, but I predict the ebb will also be inevitable,&#8221; Pearson observed. Issues such as 280E tax regulations and access to banking services will be critical in determining the industry&#8217;s trajectory.
<h3 class="wp-block-heading">The Bigger Picture</h3>
This political development comes at a crucial time for the cannabis industry, with more voters than ever supporting legalization. As industry leaders gather at <a href="https://www.benzinga.com/events/cannabis-conference/">Benzinga&#8217;s Cannabis Capital Conference</a> on October 8-9 in Chicago, these discussions will undoubtedly be at the forefront. The event will provide an opportunity for stakeholders to explore how the political landscape might shape the future of cannabis in the United States, offering insights and strategies for navigating these uncertain times.
AI generated image

Events

Harris, Walz Pro-Cannabis Ticket Is A Win, New Holland's Jamie Pearson Says — But 'Unpredictable SCOTUS' Problematic

ABIO

ARCA Biopharma shares are trading higher after the company announced a special dividend of $1.59 per share.

SPRC

SciSparc shares are trading higher after the company announced it signed an Exclusive Patent License Agreement with Polyrizon for the out-licensing of its SCI-160 program for the treatment of pain.

SciSparc will receive consideration in shares, and in addition may receive cash&nbsp;payments and fees if certain development milestones are met
TEL AVIV, Israel, Aug. 16, 2024 (GLOBE NEWSWIRE) -- SciSparc Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPRC#NASDAQ">SPRC</a>) ("Company" or "SciSparc"), a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders and rare diseases of the central nervous system, announced that it has signed an Exclusive Patent License Agreement (the "License Agreement") with Polyrizon Ltd. ("Polyrizon") for the out-licensing of its SCI-160 program (the "Assets") for the treatment of pain.
According to the License Agreement, Polyrizon will receive exclusive, royalty-bearing global license to develop and sublicense the Assets. In exchange, SciSparc would be entitled to receive&nbsp;consideration &nbsp;in the form of Polyrizon securities&nbsp;valued at $3 million, as well as potentially milestone fees of approximately $3 million in cash, if certain development milestones will be met, as well as royalties.

Biotech

Contracts

General

SciSparc Finalizes Exclusive Global Out-Licensing Agreement With Polyrizon For SCI-160 Pain Therapy Program Valued At $3M

BurgerFi International Is Currently In Ongoing Discussion Of PPE Impairment Charges; There Is Substantial Doubt About Company's Ability To Continue To Operate As A Going Concern

A plane carrying Republican vice-presidential candidate J.D. Vance was forced to make an emergency landing Friday that could bring more attention to the continued safety and quality issues with the <a href="https://www.benzinga.com/topic/boeing-737-max">Boeing 737</a>.
What Happened: Vance, who is campaigning in <a href="https://www.benzinga.com/topic/2024-election">the 2024 election,</a> was forced to make an emergency landing at the Milwaukee airport Friday due to a reported issue with his chartered 737 airplane.
Trump Force Two made a landing at the airport Friday after an issue with the door seal, according to a report from local news outlet WISN.
The plane, operated by Eastern Air, was able to land normally and taxi at the airport without assistance.
"The pilot advised there was a malfunction with the door seal. After declaring an emergency, Trump Force Two returned to Milwaukee," Vance spokeswoman Taylor Van Kirk reportedly said.
"As soon as the issue was resolved, the plane returned to its originally planned flight back to Cincinnati."
Vance was in Milwaukee for a second stop in a campaign trail that includes several swing states like Wisconsin.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent081624">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: The Boeing 737 plane has been under intense scrutiny following<a href="https://www.benzinga.com/markets/equities/24/01/36523143/im-going-to-die-passengers-experience-15-minute-nightmare-during-alaska-airs-harrowing-emergency"> several in-air incidents</a> including a blown door plug. The planes were grounded to be checked, and several airlines were forced to conduct inspections of all their 737 planes from Boeing (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>).
The situation where the plane developed a hole while flying at 16,000 feet has led to images that could understandably leave many feeling apprehensive about flying in the near future.
In January, U.S. Secretary of State Antony Blinken was<a href="https://www.benzinga.com/general/travel/24/01/36685621/antony-blinkens-grounded-flight-intensifies-boeings-crisis-trust-plummets-in-latest-survey"> forced to deplane</a> and switch from a modified Boeing 737 to a different plane. The switch was made due to a reported mechanical issue.
Boeing CEO David Calhoun recently <a href="https://www.benzinga.com/government/24/06/39387675/boeing-stock-grounded-after-ceo-testimony-to-congress-issues-before-us-today-have-real-human-consequ">testified before Congress</a> about issues with the 737 and what the airplane manufacturer is doing to ensure customer safety going forward.
The Last Word:The high-profile incident with the plane used by Vance could put Boeing back in the spotlight, and not in a good way. 
BA Price Action: Boeing shares were up 2% to $179.99 on Friday versus a 52-week trading range of $159.70 to $267.54. Boeing stock is down 31% year-to-date in 2024.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39799850/5-things-you-might-not-know-about-j-d-vance-hillbilly-elegy-author-bitcoin-holder-first-mi">5 Things You Might Not Know About J.D. Vance: &#8216;Hillbilly Elegy&#8217; Author, Bitcoin Holder, First Millennial VP Pick And More</a></li>
</ul>
Photo via Shutterstock.

Politics

Travel

J.D. Vance, Trump Force 2 Make Emergency Landing In Wisconsin: Boeing 737 Issues Reach 2024 Campaign Trail

Ericsson Announces Sale Of Iconectiv; Expects To Record One-Off EBIT Benefit Of $800M On Closing Of Transaction; Cash Benefit From Deal, After Settlement Is Expected To Be ~SEK 10.6 BIllion

Quantum BioPharma

Shares of Greenland Technologies Holding Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTEC#NASDAQ">GTEC</a>) rose sharply in today's pre-market trading after the company reported better-than-expected<a href="https://www.benzinga.com/quote/GTEC/earnings"> second-quarter EPS results.</a>



Greenland Technologies reported quarterly earnings of 34 cents per share which beat the analyst consensus estimate of 4 cents per share. The company reported quarterly sales of $23.017 million which missed the analyst consensus estimate of $27.000 million.



Greenland Technologies shares jumped 40.2% to $2.25 in pre-market trading.



Here are some other stocks moving in pre-market trading.



<h3 class="wp-block-heading">Gainers</h3>



<ul>
<li>Cingulate Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CING#NASDAQ">CING</a>) rose 81.3% to $8.70 in today's pre-market trading. Cingulate shares jumped 159% on Thursday after the company was granted European patent No. 3261625 for CTx-1301, its lead asset for the treatment of ADHD</li>



<li>Seelos Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEEL#NASDAQ">SEEL</a>) gained 48.4% to $0.4009 in pre-market trading after jumping 15% on Thursday.</li>



<li>COSCIENS Biopharma Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCI#NASDAQ">CSCI</a>) gained 28% to $7.68 in pre-market trading after declining around 4% on Thursday.</li>



<li>Quantum BioPharma Ltd  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QNTM#NASDAQ">QNTM</a>) shares rose 20.7% to $5.14 in pre-market trading after dipping 27% on Thursday.</li>



<li>Treasure Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TGL#NASDAQ">TGL</a>) gained 18.2% to $0.7794 in pre-market trading after falling 6% on Thursday.</li>



<li>Siyata Mobile Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYTA#NASDAQ">SYTA</a>) gained 16.7% to $2.79 in pre-market trading after posting quarterly results.</li>



<li>Blue Hat Interactive Entertainment Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BHAT#NASDAQ">BHAT</a>) gained 13.2% to $0.7010 in pre-market trading after declining around 8% on Thursday.</li>



<li>Planet Labs PBC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PL#NYSE">PL</a>) gained 12.9% to $2.45 in pre-market trading after the company announced that its first hyperspectral satellite, Tanager-1, along with 36 SuperDoves (Flock 4BE), will launch on the Transporter-11 rideshare mission with SpaceX on August 16.</li>



<li>Emergent BioSolutions Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EBS#NYSE">EBS</a>) gained 8.4% to $9.39 in pre-market trading after jumping 14% on Thursday.</li>
</ul>



<h3 class="wp-block-heading">Losers</h3>



<ul>
<li>Shimmick Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHIM#NASDAQ">SHIM</a>) shares declined 25.9% to $2.43 in pre-market trading after the company reported worse-than-expected second-quarter financial results.</li>



<li>Thunder Power Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIEV#NASDAQ">AIEV</a>) declined 18.6% to $0.56 in pre-market trading.</li>



<li>Sonida Senior Living, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNDA#NYSE">SNDA</a>) fell 15.4% to $27.06 in today's pre-market trading. Sonida Senior Living priced its upsized public offering of 4.3 million common stock at $27 per share.</li>



<li>Mobile-health Network Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNDR#NASDAQ">MNDR</a>) shares fell 13% to $0.80 in pre-market trading.</li>



<li>Lucas GC Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGCL#NASDAQ">LGCL</a>) shares dipped 12.4% to $1.55 in pre-market trading after jumping 38% on Thursday. The company recently announced a $6 million share repurchase program.</li>



<li>Sidus Space, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIDU#NASDAQ">SIDU</a>) fell 11.8% to $2.91 in pre-market trading. Sidus Space will host its second quarter financial results conference call on Monday, Aug. 19.</li>



<li>Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SONN#NASDAQ">SONN</a>) shares fell 10.9% to $0.7216 in pre-market trading. Sonnet Biotherapeutics shares gained around 13% on Thursday after the company announced it filed U.S. Patent Application # 20240269236.</li>



<li>Novo Integrated Sciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVOS#NASDAQ">NVOS</a>) shares declined 7.1% to $0.47 in pre-market trading.</li>



<li>Vicinity Motor Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VEV#NASDAQ">VEV</a>) shares fell 10% to $0.1530 in pre-market trading after declining 7% on Thursday.</li>



<li>Quince Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QNCX#NASDAQ">QNCX</a>) fell 9.9% to $0.4869 in pre-market trading.</li>
</ul>



Now Read This:



<ul>
<li> <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/08/40394036/jim-cramer-recommends-buying-clorox-ceo-has-done-remarkable-job">Jim Cramer Recommends Buying Clorox: &#8216;CEO Has Done Remarkable Job&#8217;</a></li>
</ul>

Trading Halt: Halt status updated at 8:55:00 AM ET: Quotation Resumption: News and Resumption Times

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Latest news for Quantum BioPharma (NASDAQ:QNTM) Stock

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