Short interest for Trulieve Cannabis gives investors a sense of the degree to which investors are betting on the decline of Trulieve Cannabis's stock. Short interest data is updated every two weeks.

Trulieve Cannabis Stock (OTC:TCNNF), Short Interest Report

Trulieve Cannabis

Trulieve Cannabis Corp is a vertically integrated seed to sale and fully licensed medical marijuana company. It is mainly engaged in the cultivation, possession, use, sale, and distribution of medical cannabis.

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As the cannabis industry adapts to its new regulatory environment following the DEA&#39;s announcement it would move to 

Big Players In U.S. Cannabis Could Play The Stock-Value Card In M&amp;A, New Report Shows

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The DEA was expected to move forward with its plans this week to remove cannabis as a Schedule 1 drug, where it currently sits alongside heroin and LSD, but new reports suggest the proposal has stalled.

Cannabis Stocks Retreat On New Rescheduling Order Developments: What&#39;s Going On?

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&#34;Cannabis is just getting started and there&#39;s going to be a lot of companies getting ready to take advantage of this massive growth cycle, government reform, news states, opening new opportunities and one day, interstate commerce.&#34; That&#39;s according to Benzinga&#39;s cannabis stock expert, Michael Berger, who is on a mission to uncover the most promising marijuana stocks poised for growth, even in a dull market.

EXCLUSIVE: &#39;Cannabis Is Just Getting Started,&#39; Says This Top Stock Expert Who Knows How To Capitalize On Swing Trades

TRULIEVE CANNABIS CORP by Trulieve Cannabis Corporation

Trulieve Cannabis Corp

As the cannabis industry adapts to its new regulatory environment following the <a href="https://www.benzinga.com/markets/cannabis/24/05/38558352/dea-moves-to-reschedule-weed-cannabis-stocks-go-for-wild-ride-pummel-short-sellers-with-210m-in-">DEA&#39;s announcement</a> it would move to&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38226873/analyst-reacts-to-fda-commish-comments-medical-and-recreational-cannabis-could-have">reschedule cannabis</a>, a recent report from Viridian Capital Advisors&nbsp;suggests a significant uptick in mergers and acquisitions (M&amp;A) activity is on the horizon.
<h2>Increased Benefits For Tier 1 Mult-State Operators</h2>
The analysis highlights a crucial trend in the valuation gap between Tier 1 multi-state operators&nbsp;(MSOs) and smaller entities, which has widened to a three-year high.
Ordered by <a href="https://www.benzinga.com/markets/cannabis/24/05/38559933/billions-on-the-move-tracking-market-cap-changes-in-top-cannabis-firms-after-dea-rescheduling-an">market capitalization</a>, tier 1 MSOs include Curaleaf Holdings (OTC: <a class="ticker" href="https://www.benzinga.com/stock/curlf#OTC">CURLF</a>) at $4.15 billion, Green Thumb Industries (OTC: <a class="ticker" href="https://www.benzinga.com/stock/gtbif#OTC">GTBIF</a>) at $2.98 billion, Trulieve Cannabis (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tcnnf#OTC">TCNNF</a>) at $2.10 billion, and Cresco Labs (OTC: <a class="ticker" href="https://www.benzinga.com/stock/crlbf#OTC">CRLBF</a>) at $718.51 million, among others.
This disparity means that M&amp;A has become increasingly accretive for <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38386324/whos-winning-in-weed-analyst-looks-at-cannabis-markets-big-players-where-are-the-be">larger companies</a>. In simpler terms, larger companies can now achieve more growth through acquisitions than before, as they can purchase other companies at relatively lower prices compared to their market value.
<h3>Capital Cost Dynamics Alter Bargaining Power</h3>
The<a href="https://dealtracker.viridianca.com/chart-of-the-week/"> report</a> also indicates a growing differential in the cost of capital, which is beginning to favor the larger, publicly traded Tier 1 MSOs.
This means these companies now face lower costs when raising funds compared to their smaller, often privately-held, counterparts. This financial leverage shifts the bargaining power significantly towards the larger MSOs, making it easier for them to pursue and close deals.
According to Viridian, these dynamics are setting the stage for a robust period of consolidation in the industry, particularly as smaller competitors, worn by prolonged market battles, look increasingly to exit.
The report also notes the second half of 2024 and the beginning of 2025 are expected to witness a notable rise in M&amp;A activities, fueled by the strategic use of elevated public company stock prices and healthier<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38420095/cannabis-companies-gains-u-s-versus-canada-averages-can-be-deceiving-irrational-mar"> cash balances</a>.
<img alt="viridian_capital_advisors_-_ma.png" src="https://www.benzinga.com/files/u503488/viridian_capital_advisors_-_ma.png" style="height:545px; width:633px" />
Viridian&#39;s chart&nbsp;illustrates a notable decline in M&amp;A activity within the cultivation and retail sector in the first half of 2021, shown by the green bar indicating a decrease in total transaction value. This downturn was largely influenced by falling equity prices, as indicated by the orange line representing the MSOs&nbsp;ETF price&nbsp;and a tightening of capital markets, which led MSOs&nbsp;to conserve cash rather than pursue expansion. However, the report suggests an impending reversal of this trend.
<h3>Shift Towards Equity In Deals</h3>
Amid&nbsp;a slow climb in equity prices due to the anticipation of Schedule 3, larger companies are finding it more advantageous to use their stock as currency for acquisitions rather than raising new capital through markets.
This shift is largely due to the sluggish pace of banking reforms and legislative updates, making cash harder and more expensive to obtain. As a result, the<a href="https://dealtracker.viridianca.com/chart-of-the-week/"> report</a> notes equity, not cash, is becoming the preferred method for financing M&amp;A activities.
<h3>Pro Tip</h3>
Companies may opt to use equity over cash for mergers and acquisitions to leverage high stock prices, preserving cash for operational needs and mitigating new debt risks. The optimal time for equity-financed M&amp;A is typically when a company&#39;s stock price is robust, coinciding with favorable market conditions or positive industry news that boosts <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38254223/marijuana-investors-bet-big-on-long-term-growth-over-short-term-earnings-as-market-">investor confidence</a>.
However, this method can lead to shareholder equity dilution if not managed carefully, potentially causing a drop in stock price if the market perceives the issuance as excessive. Issuing new shares increases the total shares available, enhancing <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38206489/cannabis-markets-trading-volume-surges-up-292-viridian-capital-highlights-mixed-liq">liquidity </a>and potentially attracting more investors, although it risks negative perceptions affecting stock value.
Read now:&nbsp;<a href="https://www.benzinga.com/markets/cannabis/24/05/38627339/the-cannabis-caregiver-econo[…]-these-workers-deserve-market-access-and-how-states-can-help" rel="noopener noreferrer" target="_blank">The Cannabis Caregiver Economy: Why These Workers Deserve Market Access And How States Can Help</a>
If you&#39;re&nbsp;interested in gaining a deeper understanding of cannabis mergers and acquisitions and their impact on investment opportunities, don&#39;t miss the opportunity to join us at the&nbsp;<a href="https://www.benzinga.com/events/cannabis-conference/?UTM_source=article" target="_blank">19th Benzinga Cannabis Capital Conference</a>&nbsp;in Chicago this October 8-9. Engage with top executives, investors, policymakers, and advocates to explore the future of the industry. Secure your tickets now before prices increase by following&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank">this link</a>.

Big Players In U.S. Cannabis Could Play The Stock-Value Card In M&A, New Report Shows

The Biden Administration&#8217;s plan to reclassify cannabis as a Schedule III drug may be losing momentum following new reports suggesting the administrator of the U.S. Drug Enforcement Administration (DEA)&nbsp;failed to sign <a href="https://www.benzinga.com/markets/cannabis/24/05/38538598/the-dea-announces-intent-to-reschedule-cannabis-from-schedule-i-to-schedule-iii-what-does-this-m">the rescheduling order</a>.
What Happened: Several reports from last week indicated that the DEA would move to reclassify marijuana as a less dangerous drug. Although the proposal wouldn&#8217;t legalize cannabis for recreational use, it acknowledged that cannabis has medical benefits and places it in a category that recognizes it as having less potential for abuse.
The DEA was expected to move forward with its plans this week to remove cannabis as a Schedule 1 drug, where it currently sits alongside heroin and LSD, but new reports suggest the proposal has stalled.
According to an X <a href="https://twitter.com/KevinSabet/status/1787569052782846142">post</a> on Monday from Newsweek&#8217;s Kevin Sabet, DEA Administrator Anne Milgram failed to sign the rescheduling order.
&#8220;BIG: I can now say with full confidence that the Administrator of DEA, Anne Milgram, did NOT sign the rescheduling order, breaking with five decades of precedent and established law and regulations,&#8221; Sabet said in the post, citing two confidential sources inside the DEA and another outside source with knowledge on the matter. 
Don&#8217;t Miss: <a href="https://www.benzinga.com/markets/cannabis/24/05/38651174/criminal-defense-lawyers-to-biden-release-pot-prisoners-as-dea-moves-to-reclassify-cannabis">Criminal Defense Lawyers To Biden: Release Pot Prisoners As DEA Moves To Reclassify Cannabis</a>
Cannabis stocks got a lift last week in anticipation of the rescheduling order. The broader cannabis space pulled back Monday afternoon following new rescheduling order developments. 
Here&#8217;s a look at some of the biggest movers in the cannabis space on Monday, at market close:
<ul>
<li>Canopy Growth Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>): Down 5.08%</li>
<li>Tilray Brands, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>): Down 2.38%</li>
<li>Curaleaf Hldgs Inc&nbsp;(OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTCQX">CURLF</a>): Down 0.35%</li>
<li>Trulieve Cannabis Corp (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTCQX">TCNNF</a>): Down 8.78%</li>
<li>Green Thumb Industries Inc&nbsp;(OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTCQX">GTBIF</a>): Down 5.15%</li>
<li>AdvisorShares Pure US Cannabis ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSOS#NYSE">MSOS</a>): Down 2.79%</li>
<li>AdvisorShares Pure Cannabis ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YOLO#NYSE">YOLO</a>): Down 1.47%</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/markets/cannabis/24/05/38651273/cannabis-reform-advocate-champions-change-looks-to-expand-prophet-across-the-globe">Cannabis Reform Advocate Champions Change, Looks To Expand Prophet Across The Globe</a>
Photo: 7raysmarketing from Pixabay

Cannabis Stocks Retreat On New Rescheduling Order Developments: What's Going On?

"<a href="https://www.benzinga.com/cannabis">Cannabis</a> is just getting started and there&#8217;s going to be a lot of companies getting ready to take advantage of this massive growth cycle, government reform, news states, opening new opportunities and one day, interstate commerce." That's according to Benzinga's cannabis stock expert, Michael Berger, who is on a mission to uncover the most promising marijuana stocks poised for growth, even in a dull market.
But these days, the cannabis market is anything but dull. The Drug Enforcement Administration&#8217;s (DEA) historic decision to align its stance with a recommendation from the Department of Health and Human Services and move <a href="https://www.benzinga.com/markets/cannabis/24/04/38530190/breaking-dea-reportedly-moves-to-reschedule-cannabis-stocks-rise-sharply-on-the-news">marijuana from Schedule I to Schedule III under the Controlled Substances Act (CSA), </a>left <a href="https://www.benzinga.com/markets/cannabis/24/04/38531355/cannabis-stocks-and-etfs-surge-as-dea-moves-to-reschedule-marijuana">cannabis stocks soaring on Tuesday.</a>
The 19th Benzinga Cannabis Capital Conference is returning to Chicago this Oct. 8-9. <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">Get your tickets now</a> before prices surge by following <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">this link</a>.
See also: <a href="https://www.benzinga.com/markets/cannabis/24/03/37913874/how-to-make-your-cannabis-business-more-attractive-for-investors-in-2024-advice-on-financial-hea">How To Make Your Cannabis Business More Attractive For Investors In 2024: Advice On Financial Health &amp; Innovatio</a><a href="https://www.benzinga.com/markets/cannabis/24/03/37913874/how-to-make-your-cannabis-business-more-attractive-for-investors-in-2024-advice-on-financial-hea">n</a>
<h3 class="wp-block-heading">Capitalizing On Volatile Opportunity</h3>
Berger who is behind <a href="https://marketfy.com/item/420investor/">Benzinga PotProfits</a> and focuses on helping investors and traders navigate cannabis market highs and lows was genuinely surprised to see a limited interest in trading cannabis stocks among the crowd gathered at gathered at the Benzinga Cannabis Capital Conference in Florida in April.
Benzinga&#8217;s <a href="https://www.benzinga.com/author/javier-hasse">Javier Hasse</a> said the reason is probably a fear of losing hard-earned money by investing in a volatile opportunity.
But now, with regulation come out at the federal level, many can capitalize.
"The opportunity to capitalize on cannabis is now," Berger said. "We help you now navigate these choppy waters, we help you find the alpha and we want to make sure that you&#8217;re able to capitalize on this."
Berger recommended not the be "overexposed" in such a volatile market as cannabis. Instead, he proposes putting "25 of your plant and investment in there and watch out goes." 
"That&#8217;s the strategy we take with the mock portfolio, we make sure that we have, we have powder on the sidelines," Berger explained. "We are ready to capitalize on these swing trades. And if a stock tanks, we&#8217;re able to buy the dip."
He prefers the U.S. cannabis stocks over Canadian, highlighting Green Thumb Industries Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTC">GTBIF</a>), Trulieve Cannabis Corp. (CSE:<a class="ticker" href="https://www.benzinga.com/stock/TRUL#CSE">TRUL</a>) (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTCQX">TCNNF</a>) and Curaleaf Holdings, Inc. (CSE:<a class="ticker" href="https://www.benzinga.com/stock/CURA#CSE">CURA</a>) (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTCQX">CURLF</a>).
"We&#8217;re focusing on plays that have that global reach, global opportunity and companies that actually have something called free cash flow," Berger said adding other financial metrics to watch out for are net income and adjusted EBITDA.
Now read: <a href="https://www.benzinga.com/markets/cannabis/24/04/38302710/exclusive-focus-on-selling-numbers-not-dreams-thats-what-makes-cannabis-a-good-investment">EXCLUSIVE: Focus On Selling Numbers, Not Dreams, That&#8217;s What Makes Cannabis A Good Investment</a>

EXCLUSIVE: 'Cannabis Is Just Getting Started,' Says This Top Stock Expert Who Knows How To Capitalize On Swing Trades

The recent decision by the DEA <a href="https://www.benzinga.com/markets/cannabis/24/04/38530190/breaking-dea-reportedly-moves-to-reschedule-cannabis-stocks-rise-sharply-on-the-news">to reschedule cannabis</a> to Schedule III has triggered notable volatility in the market valuations of multi-state operators (MSOs).
According to <a href="https://dealtracker.viridianca.com/credit-tracker-by-industry-sector/">Viridian Capital Advisors&#39;</a> latest weekly credit report, the MSO index surged by 25% immediately after the announcement, indicating a strong initial market reaction. However, this enthusiasm quickly faded, with the index dropping by 15% the following day.
These shifts are significant as they influence the perceived financial health of these companies, judged by their market value and their ability to manage their debts.
<h3>MSOs Adjust To DEA Rescheduling</h3>
How are these shifts reflected in the financial trajectories of major MSOs? According to Viridian Capital Advisors&#39; analysis, several MSOs are navigating different financial paths post-DEA rescheduling.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37707380/green-thumbs-edge-over-s-p-500-etfs-cannabis-investor-confidence-propels-expansion-">Green Thumb Industries Inc. </a>(GTI) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/gtbif#OTC">GTBIF</a>) has secured a deal promising a 7% return by April 2025, a notably high rate. This favorable arrangement boosts GTI&#39;s position in Viridian&#39;s credit rankings, though at a cost higher than that of its industry peers.
<img alt="viridian_capital_advisors_credit_strength.png" src="https://www.benzinga.com/files/u503488/viridian_capital_advisors_credit_strength.png" style="height:537px; width:633px" />
In contrast, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38470560/landing-in-floridas-cannabis-market-legal-adult-use-marijuana-could-yield-874m-in-2">Trulieve&#39;s</a> (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tcnnf#OTC">TCNNF</a>) current yield stands at 8.7% with a 380 basis point over the curve, suggesting a potentially more balanced risk-return profile.
Meanwhile, companies like Verano (OTC: <a class="ticker" href="https://www.benzinga.com/stock/vrnof#OTC">VRNOF</a>), Cresco (OTC: <a class="ticker" href="https://www.benzinga.com/stock/crlbf#OTC">CRLBF</a>), and Curaleaf (OTC: <a class="ticker" href="https://www.benzinga.com/stock/curlf#OTC">CURLF</a>)&nbsp;are trading yields in the 11-11.5% range, highlighting varying degrees of risk and investment attractiveness.
<h3>Ascend Wellness: High Yield, High Risk</h3>
Ascend Wellness Holdings, Inc. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/aawh#OTC">AAWH</a>) emerges as a particularly interesting case. Despite a high yield of 13.7% on its $275M first lien term loan due in August 2025, its high liabilities relative to market cap&mdash;approximately 83% of its total valuation&mdash;may be restraining <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38386324/whos-winning-in-weed-analyst-looks-at-cannabis-markets-big-players-where-are-the-be">stock performance</a>.
Additionally, Ascend&rsquo;s complex market position and diverse geographic presence pose challenges for potential acquisitions. According to <a href="https://dealtracker.viridianca.com/credit-tracker-by-industry-sector/">Viridian</a>, addressing its upcoming debt maturity proactively could significantly improve its financial standing and market valuation.
Understanding how recent changes affect credit rankings and valuations is just the beginning. Join us at the <a href="https://www.benzinga.com/events/cannabis-conference/?UTM_source=article">19th Benzinga Cannabis Capital Conference</a> in Chicago this October 8-9 to discuss these developments in depth. Engage with top executives, investors, policymakers, and advocates to gain insights into the future of the industry. Secure your tickets now before prices increase by following <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator">this link</a>.
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Credit Check: What Does DEA Rescheduling Mean For Cannabis Credit Ratings? Big Companies' Risk-Return Profiles

<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 86.36% at $0.04</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 18.72% 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 17.54% at $0.03</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 13.76% at $0.33</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/LVRLF">CordovaCann</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LVRLF#OTC">LVRLF</a>) shares closed up 9.89% at $0.08</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 7.14% at $0.00</li>
<li><a href="https://www.benzinga.com/quote/RMHB">Rocky Mountain High</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RMHB#OTC">RMHB</a>) shares closed up 4.26% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/XXII">22nd Century Group</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XXII#NASDAQ">XXII</a>) shares closed up 3.61% at $1.65</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 69.60% 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 47.24% 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 25.67% at $11.44</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 25.17% 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 down 24.37% at $0.09</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 21.98% at $0.64</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 20.15% at $7.36</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 19.24% at $0.19</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 18.76% at $0.03</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 18.73% at $2.45</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 18.22% at $2.01</li>
<li><a href="https://www.benzinga.com/quote/BMMJ">Body and Mind</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMMJ#OTC">BMMJ</a>) shares closed down 17.94% at $0.07</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 17.19% at $11.90</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 16.60% at $0.04</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 16.34% at $1.33</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 15.91% at $0.02</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 down 13.88% at $13.22</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 13.46% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/CRLBF">Cresco Labs</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CRLBF#OTC">CRLBF</a>) shares closed down 13.31% at $2.15</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 11.11% at $0.04</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 11.11% at $0.00</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 10.12% at $2.21</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 down 9.91% at $1.92</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 9.25% at $0.37</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 8.26% at $0.20</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 7.93% at $0.04</li>
<li><a href="https://www.benzinga.com/quote/CRON">Cronos Group</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRON#NASDAQ">CRON</a>) shares closed down 7.82% at $2.71</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 7.22% at $0.04</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/MRMD">MariMed</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MRMD#OTC">MRMD</a>) shares closed down 6.40% at $0.30</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 5.86% at $0.02</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 4.64% at $0.09</li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ACNNF

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BMMJ

CANNABIS WHEATON INCOME by Cannabis Wheaton Income Corp.

CBWTF

CNBX

CNPOF

CNTMF

CRON

CVSI

CWBHF

CXXIF

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GNLN

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LEAFBUYER TECHNOLOGIES by Leafbuyer Technologies, Inc.

LBUY

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MJNE

MRMD

NDVAF

RMHB

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XXII

Marijuana Stock Movers For May 1, 2024

Tuesday&#39;s&nbsp;announcement that the&nbsp;DEA is moving towards&nbsp;rescheduling cannabis from <a href="https://www.benzinga.com/markets/cannabis/24/04/38530190/breaking-dea-reportedly-moves-to-reschedule-cannabis-stocks-rise-sharply-on-the-news">Schedule I to Schedule III</a>, has already injected billions into the publicly traded market for cannabis companies. But what does this mean in terms of actual numbers for the industry&#39;s biggest players?
To quantify the market cap added to the publicly traded market for some of the <a href="https://www.benzinga.com/markets/cannabis/24/04/38531355/cannabis-stocks-and-etfs-surge-as-dea-moves-to-reschedule-marijuana">bigger names in the cannabis industry</a>, we need to calculate the difference between their market capitalizations at their public debut or the earliest available data point and their market capitalizations as of the latest available date.
<h2>Market Projections&nbsp;</h2>
Before we dive into the size&nbsp;of the cannabis market and how it grew, it is worth noting the&nbsp;total economic impact generated by&nbsp;<a href="https://www.benzinga.com/topic/cannabis-retail-sales" rel="noopener noreferrer" target="_blank">regulated marijuana sales</a>&nbsp;in the U.S. is estimated to surpass $112.4 billion in 2024, marking a 12% increase from the previous year.&nbsp;
According&nbsp;to the recent&nbsp;<a href="http://mjbizdaily.com/marijuana-industry-will-add-112-4-billion-to-us-economy-in-2024-mjbiz-factbook/">MJBiz Factbook</a>,&nbsp;this economic impact will continue to rise, reaching over $200 billion by 2030.&nbsp;The total amount of U.S. adult-use and medical cannabis sales is forecasted to reach $32.1 billion in 2024 and is projected to surge to $58 billion by 2030.
The Factbook editor, Andrew Long says that for every <a href="https://www.benzinga.com/topic/cannabis-sales">dollar spent</a> by consumers at cannabis shops, an additional $2.50 is injected into the economy, with significant benefits at the local level. This surge reflects a 250% increase in the economic impact of every dollar spent on legal marijuana.
With cannabis rescheduling imminent, join us to discuss its impact on the industry&#39;s future.&nbsp;Hear directly for top executives, investors, policymakers, and advocates at the 19th Benzinga Cannabis Capital Conference, coming to Chicago this Oct. 8-9.&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" rel="noopener noreferrer" target="_blank">Get your tickets now</a>&nbsp;before prices surge by following&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" rel="noopener noreferrer" target="_blank">this link</a>.
<h2>Cannabis Industry: 24-Hour Market Cap Surge</h2>
<h3>Trulieve:</h3>
<ul>
<li>Market Cap on April 30, 2024: $2.72 billion</li>
<li>Market Cap on April 29, 2024: $2.04 billion</li>
<li>Difference: $2.72 billion - $2.04 billion = $680 million</li>
</ul>
<h3>Tilray:</h3>
<ul>
<li>Market Cap on April 30, 2024: $1.91 billion</li>
<li>Market Cap on April 29, 2024: $1.37 billion</li>
<li>Difference: $1.91 billion - $1.37 billion = $540 million</li>
</ul>
<h3>Aurora:</h3>
<ul>
<li>Market Cap on April 30, 2024: $439.30 million</li>
<li>Market Cap on April 29, 2024: $300.80 million</li>
<li>Difference: $439.30 million - $300.80 million = $138.5 million</li>
</ul>
<h3>Canopy:</h3>
<ul>
<li>Market Cap on April 30, 2024: $1.36 billion</li>
<li>Market Cap on April 29, 2024: $758.10 million</li>
<li>Difference: $1.36 billion - $758.10 million = $602 million</li>
</ul>
<h3>Curaleaf:</h3>
<ul>
<li>Market Cap on April 30, 2024: $4.61 billion</li>
<li>Market Cap on April 29, 2024: $3.70 billion</li>
<li>Difference: $4.61 billion - $3.70 billion = $910 million</li>
</ul>
<h3>Green Thumb Industries:</h3>
<ul>
<li>Market Cap on April 30, 2024: $3.64 billion</li>
<li>Market Cap on April 29, 2024: $2.97 billion</li>
<li>Difference: $3.64 billion - $2.97 billion = $670 million</li>
</ul>
<h3>Cresco Labs:</h3>
<ul>
<li>Market Cap on April 30, 2024: $833.51 million</li>
<li>Market Cap on April 29, 2024: $741.65 million</li>
<li>Difference: $833.51 million - $741.65 million = $91.86 million</li>
</ul>
<h2>Stock Performance Post-DEA Announcement</h2>
<h3>Trulieve</h3>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36745790/2024-oscars-of-marijuana-equity-analyst-nominations-spotlight-key-state-performers">Trulieve&#39;s</a> stock (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tcnnf#OTC">TCNNF</a>) increased from $10.28 to $14.37 following the DEA announcement, a 38.17% increase, and then declined to $11.90 the next day, a 17.19% decrease. Correspondingly, the market cap rose to $2.72 billion on April 30, 2024 (a 33.06% increase), and then dropped to $2.25 billion on May 1, 2024 (a 17.19% decrease). The announcement added approximately $680 million to Trulieve&#39;s market cap in one day.
<h3>Tilray</h3>
Tilray&rsquo;s stock (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tlry#NASDAQ">TLRY</a>) surged from $1.77 to $2.47 (a 39.55% increase) on the announcement day and fell to $2.02 (an 18.22% decrease) the following day. The <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38386324/whos-winning-in-weed-analyst-looks-at-cannabis-markets-big-players-where-are-the-be">market cap</a> reflected these changes, growing to $1.91 billion on April 30, 2024, and then declining to $1.56 billion on May 1, 2024. The DEA announcement increased Tilray&#39;s market cap by approximately $540 million.
<h3>Canopy Growth</h3>
Canopy Growth&rsquo;s stock&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cgc#NASDAQ">CGC</a>) <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38149371/nasdaq-listed-marijuana-stocks-tilray-canopy-aurora-rally-whats-behind-the-surge">jumped </a>from $8.20 to $14.88 (a 78.85% increase) on April 30, 2024, and decreased to $11.44 the next day (a 23.12% decrease). The market cap followed a similar trajectory, increasing to $1.36 billion on the day of the announcement and then decreasing to $1.04 billion on May 1, 2024. The announcement added about $602 million to Canopy Growth&#39;s market cap.
<h3>Aurora</h3>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38149371/nasdaq-listed-marijuana-stocks-tilray-canopy-aurora-rally-whats-behind-the-surge">Aurora&#39;s stock</a> (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/acb#NYSE">ACB</a>) price rose from $6.32 to $9.23 (a 46.04% increase) on April 30, 2024, and then fell to $7.36 (a 20.26% decrease) on May 1, 2024. The market cap increased to $439.30 million on the announcement day and decreased to $350.30 million the following day. The announcement added roughly $138.5 million to Aurora&#39;s market cap.
<h3>Curaleaf</h3>
Curaleaf (OTC: <a class="ticker" href="https://www.benzinga.com/stock/curlf#OTC">CURLF</a>) saw its stock price increase from $5.10 to $6.28 (a 24.60% increase) on the announcement day and decrease to $5.66 (a 9.87% decrease) the next day. The market cap increased to $4.61 billion on April 30, 2024, and then decreased to $4.39 billion on May 1, 2024. The announcement added approximately $910 million to Curaleaf&#39;s market cap.
<h3>Green Thumb Industries</h3>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37707380/green-thumbs-edge-over-s-p-500-etfs-cannabis-investor-confidence-propels-expansion-">Green Thumb Industries</a>&rsquo; stock (OTC: <a class="ticker" href="https://www.benzinga.com/stock/gtbif#OTC">GTBIF</a>) price increased from $12.39 to $15.35 (a 22.31% gain) on April 30, 2024, and decreased to $13.22 (a 13.88% drop) the next day. The market cap rose to $3.64 billion on the announcement day and fell to $3.13 billion on May 1, 2024. The announcement added approximately $670 million to Green Thumb Industries&#39; market cap.
<h3>Cresco Labs</h3>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36745790/2024-oscars-of-marijuana-equity-analyst-nominations-spotlight-key-state-performers">Cresco Labs</a>&rsquo; stock price (OTC: <a class="ticker" href="https://www.benzinga.com/stock/crlbf#OTC">CRLBF</a>) increased from $2.14 to $2.48 (a 13.76% increase) on the day of the announcement and decreased to $2.15 (a 13.31% decrease) the following day. The market cap increased to $843.72 million on April 30, 2024, and decreased to $779.08 million on May 1, 2024. The announcement added about $102.07 million to Cresco Labs&#39; <a href="https://www.benzinga.com/markets/cannabis/24/04/38279554/cannabis-valuations-more-mathematical-more-balance-sheet-driven-than-before-insights-from-indust">market</a> cap.
<h2>Market Cap Fluctuations Among Leading Cannabis Players Since They Went Public</h2>
Since 2018, Curaleaf, Canopy, Tilray, and other major players in the cannabis industry have experienced fluctuating market capitalizations.
Curaleaf&#39;s market cap decreased from $5 billion at its public debut to $1.65 billion in mid-2023, before rebounding to $4.63 billion by April 30, 2024. Canopy&#39;s market cap varied from $5.40 billion in 2018 to $1.36 billion in 2024.
Tilray&#39;s market cap peaked at $6.57 billion in 2018, declined to $1.64 billion in 2022, and rose to $1.91 billion in 2024. Aurora (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/acb#NYSE">ACB</a>) also witnessed significant fluctuations, with its market cap reaching $18.55 billion in 2017 and declining to $439.30 million by 2024.
Green Thumb Industries, Curaleaf, and Trulieve, key players in the cannabis industry, have also experienced varying market capitalizations since 2018.
Green Thumb Industries&#39; market cap fluctuated from $2.05 billion in 2018 to $3.60 billion in 2024. Curaleaf&#39;s market cap ranged from $2.93 billion in 2019 to $7.91 billion in 2020, before settling at $3.65 billion in 2024. Trulieve&#39;s market cap showed similar volatility, moving from $1.31 billion in 2019 to $3.79 billion in 2020 and reaching $1.97 billion in 2024.
Photo: AI-Generated Image.

Guidance

Billions On The Move: Tracking Market Cap Changes In Top Cannabis Firms After DEA Rescheduling Announcement

<h3>GAINERS:</h3>
<ul>
<li><a href="https://www.benzinga.com/quote/ELLXF">Elixinol Wellness</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ELLXF#OTC">ELLXF</a>) shares closed up 110.00% 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 100.00% at $0.0002</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 82.09% at $14.88</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 43.99% at $9.23</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 43.55% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/TLRY">Tilray Brands</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) shares closed up 38.98% at $2.47</li>
<li><a href="https://www.benzinga.com/quote/SOLCF">SOL Glb Inv</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SOLCF#OTC">SOLCF</a>) shares closed up 38.13% at $0.04</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 36.65% at $0.12</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 34.15% at $0.22</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 30.00% at $2.99</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 28.66% at $0.41</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 24.09% at $0.29</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 23.35% at $0.05</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 22.22% at $0.02</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 21.47% at $2.09</li>
<li><a href="https://www.benzinga.com/quote/SNDL">SNDL</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNDL#NASDAQ">SNDL</a>) shares closed up 20.41% at $2.47</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 20.00% at $0.00</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 18.87% at $0.10</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 17.56% at $1.53</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 17.02% at $0.04</li>
<li><a href="https://www.benzinga.com/quote/CRON">Cronos Group</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRON#NASDAQ">CRON</a>) shares closed up 16.08% at $2.94</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 13.27% at $0.03</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 12.49% at $0.05</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 11.94% at $0.77</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 11.76% at $2.12</li>
<li><a href="https://www.benzinga.com/quote/TGIFF">1933 Industries</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TGIFF#OTC">TGIFF</a>) shares closed up 11.58% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/BMMJ">Body and Mind</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMMJ#OTC">BMMJ</a>) shares closed up 7.84% at $0.09</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 up 5.66% at $1.02</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 5.48% at $14.37</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 4.76% at $0.06</li>
<li><a href="https://www.benzinga.com/quote/IIPR">Innovative Ind Props</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IIPR#NYSE">IIPR</a>) shares closed up 4.75% at $103.40</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 3.93% at $37.04</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 3.45% at $0.60</li>
</ul>
<h3>LOSERS:</h3>
<ul>
<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 26.26% at $0.24</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 25.23% at $0.02</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 21.14% at $0.05</li>
<li><a href="https://www.benzinga.com/quote/LVRLF">CordovaCann</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LVRLF#OTC">LVRLF</a>) shares closed down 18.20% at $0.07</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 15.47% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/GBHPF">Global Hemp Group</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GBHPF#OTC">GBHPF</a>) shares closed down 12.00% 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 6.82% at $0.18</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 $1.58</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 4.61% at $0.01</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 3.70% at $0.32</li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Bullish Tuesday For Marijuana Stocks - Elixinol Wellness, Item 9 Labs Among Top Gainers

The cannabis sector saw a notable upswing on Tuesday on news of the Drug Enforcement Administration&#39;s (DEA) historic decision to align its stance with a recommendation from the Department of Health and Human Services and move <a href="https://www.benzinga.com/markets/cannabis/24/04/38530190/breaking-dea-reportedly-moves-to-reschedule-cannabis-stocks-rise-sharply-on-the-news">marijuana from Schedule I to Schedule III under the Controlled Substances Act (CSA).</a>
Earlier this year the Dept. of Health and Human Services (HHS) released 252 pages of documents confirming for the first time it recommended to the DEA to reschedule cannabis from Schedule I to Schedule III under the Controlled Substances Act.
The documents explained that cannabis &ldquo;has a currently accepted medical use in treatment in the United States&rdquo; and that it has a &ldquo;potential for abuse less than the drugs or other substances in Schedules I and II.&quot;
Now, investors seem optimistic about potential regulatory changes that could benefit the cannabis industry.
See also: <a href="https://www.benzinga.com/markets/cannabis/24/01/36624064/deas-cannabis-classification-time-to-right-a-decades-old-mistake-as-feds-confirm-marijuanas-medi" rel="noreferrer noopener" target="_blank">DEA&#39;s Cannabis Classification: Time To Right A Decades-Old Mistake As Feds Confirm Marijuana&#39;s Medical Benefits</a>
Pro tip: Learn all about the future of the cannabis industry at the Benzinga Cannabis Capital Conference this October in Chicago. Hear directly from key industry players and policymakers. Get your tickets now by following <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" rel="noreferrer noopener" target="_blank">this link</a>, and access a 20% discount using the code JAVI20.
Here&rsquo;s how some of the top US and Canadian cannabis stocks are trading at the moment of writing on Tuesday:
<ul>
<li>Curaleaf Holdings Inc&lsquo;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTC">CURLF</a>) shares are trading 17.78% higher at $5.94 per share.</li>
<li>Green Thumb Industries Inc&lsquo;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTC">GTBIF</a>) shares are trading 21.23% higher at $15.22 per share.</li>
<li>Cresco Labs Inc&lsquo;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CRLBF#OTC">CRLBF</a>), shares are trading 14.68% higher at $2.5 per share.</li>
<li>Verano Holdings Corp&lsquo;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VRNOF#OTC">VRNOF</a>) shares are trading 17.62% higher at $5.94 per share.</li>
<li>Trulieve Cannabis Corp&lsquo;s (CSE:<a class="ticker" href="https://www.benzinga.com/stock/TRUL#CSE">TRUL</a>) (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTCQX">TCNNF</a>) shares are trading 27.12% higher at $13.22 per share.</li>
<li>The Cannabist Company Holdings Inc&rsquo;s (NEO: CBST) (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/CBSTF#OTCQX">CBSTF</a>) (FSE: 3LP) shares are trading 29.95% higher at $0.3697 per share.</li>
<li>WM Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAPS#NASDAQ">MAPS</a>) shares are trading 38.1201% higher at $1.4400 per share.</li>
<li>Canopy Growth Corporation (TSX:<a class="ticker" href="https://www.benzinga.com/stock/WEED#TSX">WEED</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) shares are trading 35.34% higher at $11.26 per share.</li>
<li>Tilray Brands Inc&lsquo;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) shares are trading 29.9379% higher at $2.2999 per share.</li>
<li>Aurora Cannabis, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACB#NASDAQ">ACB</a>) shares are trading 22.94% higher at $7.77per share.</li>
</ul>
Here&rsquo;s how some of the best-performing cannabis ETFs are trading at the moment of writing on Tuesday:
<ul>
<li>AdvisorShares Pure US Cannabis ETF&lsquo;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSOS#NYSE">MSOS</a>) shares are trading 21.01% higher at $10.91 per share.</li>
<li>Amplify Alternative Harvest ETF&#39;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MJ#NYSE">MJ</a>) shares are trading 17.62% higher at $4.5050 per share.</li>
<li>AdvisorShares MSOS 2x Daily ETF&rsquo;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSOX#NYSE">MSOX</a>) shares are trading 43.26% higher at $6.92 per share.</li>
<li>AdvisorShares Pure Cannabis ETF&lsquo;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YOLO#NYSE">YOLO</a>) shares are trading 17.15% higher at $4.4399 per share.</li>
<li>Amplify Seymour Cannabis ETF&lsquo;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNBS#NYSE">CNBS</a>) shares are trading 20.27% higher at $6.17 per share.</li>
<li>Amplify U.S. Alternative Harvest ETF&#39;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MJUS#NYSE">MJUS</a>) shares are trading 18.79% higher at $2.3401 per share.</li>
</ul>
Now read: <a href="https://www.benzinga.com/markets/cannabis/24/01/36632145/reschedule-cannabis-or-abolish-the-dea-says-physician-examining-the-50-year-old-trillion-dollar-" rel="noreferrer noopener" target="_blank">Reschedule Cannabis Or &lsquo;Abolish The DEA,&#39; Says Physician: Examining The 50-Year-Old, Trillion-Dollar Agency</a>
Pro tip: Learn all about the future of the cannabis industry at the Benzinga Cannabis Capital Conference this October in Chicago. Hear directly from key industry players and policymakers. Get your tickets now by following&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" rel="noreferrer noopener" target="_blank">this link</a>, and access a 20% discount using the code JAVI20.<a href="https://cannabismarketspotlight.com/" rel="noreferrer noopener" target="_blank">here</a>.

THE CANNABIST CO HLDG by THE CANNABIST COMPANY HOLDINGS INC.

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Cannabis Stocks And ETFs Surge As DEA Moves To Reschedule Marijuana

With the potential legalization of adult-use marijuana under Amendment 3, Florida&#39;s cannabis market is set for a significant transformation. <a href="https://www.benzinga.com/topic/florida-cannabis">Florida&#39;s legal cannabis</a> spending is projected to grow at a 12% CAGR from 2023 to 2028, with total sales expected to reach $4.5 billion by 2028, positioning Florida as the second-largest U.S. cannabis market after California.
<h3>Competitive Landscape And Consumer Behavior</h3>
Florida&#39;s retail cannabis landscape has already shown significant growth, with the number of dispensaries rising to 628 by April 2024, as per&nbsp;<a href="https://www.benzinga.com/topic/bdsa">BDSA</a> data.&nbsp;
The state&#39;s medical cannabis sector remains robust, with patient numbers surpassing 878,000 this month and sales reaching $2.6 billion in 2023, marking an 18% increase from the previous year.
As Florida prepares for a November ballot initiative on adult-use legalization, BDSA analyst Brendan Mitchel-Chesebro underscores the legislative uncertainty around <a href="https://www.benzinga.com/markets/cannabis/24/04/38299011/its-on-the-ballot-the-future-of-adult-use-cannabis-in-florida-whats-the-contingency-plan-if-lega">Amendment 3</a>, which allows but does not require the expansion of adult-use cannabis licenses.
This leaves the future market landscape uncertain. If the initiative passes, BDSA forecasts sales of $874 million in 2025 for the adult-use segment.
In this context, existing operators like <a href="https://www.benzinga.com/markets/cannabis/24/04/38313915/cannabis-in-florida-the-bellamy-brothers-tell-trulieve-ceo-we-rolled-a-fat-one-when-legalization">Trulieve</a> (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tcnnf#OTC">TCNNF</a>) are advised to refine their strategies to cater to a potentially larger and more diverse consumer base.
As consumer penetration rates are expected to surge&mdash;mirroring trends observed in other states transitioning to adult use&mdash;companies must adeptly navigate evolving preferences across different product forms and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37666783/marijuana-shoppers-favorite-strains-2024">usage motivations</a> to maintain or enhance their market shares.
Mitchel-Chesebro points out that, unlike other adult-use markets, only 31% of Florida consumers currently prioritize <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38341510/how-to-max-profits-this-420-smart-discounts-amid-sales-spike-of-premium-marijuana">low-cost</a>, compared to 36% in general adult-use markets.
However, the typical initial price increase following legalization might heighten price sensitivity among <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38037571/floridas-6b-cannabis-market-anticipates-400-growth-following-court-decision-allowin">Florida shoppers</a>.
This, along with the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/12/36268367/u-s-cannabis-market-premium-products">growing popularity of infused pre-rolls</a> and a notable 47% year-over-year growth in <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/07/33369455/sweet-treats-take-over-gummie-consumption-outpaces-flower-in-latest-consumer-data-h">edibles sales</a>, indicates significant upcoming shifts in consumer behavior as the market expands.
<h3>Strategies For Market Entry And Expansion</h3>
As the Florida market braces for a likely uptick in mergers and acquisitions, Mitchel-Chesebro advises new entrants and expanding firms to adopt a nuanced pricing strategy.
Using BDSA&rsquo;s Price Tiers analysis, he highlights the potential for brands to capitalize on specific product segments where premium offerings are underrepresented relative to their market performance.
For example, in <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/11/35991290/analyst-inside-look-trends-and-opportunities-in-ohios-emerging-recreational-cannabi">markets like Ohio</a>, premium-priced flower products disproportionately contribute to sales relative to their market availability. Identifying and targeting these lucrative price tiers can be a key strategy for newly introduced brands aiming for rapid growth in new markets.
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Landing In Florida's Cannabis Market: Legal Adult-Use Marijuana Could Yield $874M In 2025

<h3>GAINERS:</h3>
<ul>
<li><a href="https://www.benzinga.com/quote/FLWPF">The Flowr</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FLWPF#OTC">FLWPF</a>) shares closed up 9900.00% at $0.0001</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 50.00% at $0.00</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 25.00% 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 20.34% at $0.64</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 13.64% at $0.03</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 13.43% at $0.08</li>
<li><a href="https://www.benzinga.com/quote/FFNTF">4Front Ventures</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FFNTF#OTC">FFNTF</a>) shares closed up 12.67% at $0.10</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 10.26% at $0.04</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 up 9.38% at $0.28</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 9.05% at $0.31</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 8.51% at $0.01</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 7.27% at $0.11</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 6.42% at $0.58</li>
<li><a href="https://www.benzinga.com/quote/CRLBF">Cresco Labs</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CRLBF#OTC">CRLBF</a>) shares closed up 5.13% at $2.05</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 5.05% at $0.06</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 3.94% at $1.35</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 3.83% at $10.57</li>
<li><a href="https://www.benzinga.com/quote/CRON">Cronos Group</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRON#NASDAQ">CRON</a>) shares closed up 3.61% at $2.59</li>
<li><a href="https://www.benzinga.com/quote/SNDL">SNDL</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNDL#NASDAQ">SNDL</a>) shares closed up 3.08% at $2.01</li>
</ul>
<h3>LOSERS:</h3>
<ul>
<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 27.54% at $0.01</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 23.73% at $0.33</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 19.35% 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 16.92% at $0.01</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 down 16.47% at $0.03</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 14.01% 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 down 10.38% at $0.01</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 9.29% at $1.75</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 7.16% at $0.05</li>
<li><a href="https://www.benzinga.com/quote/CVSI">CV Sciences</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CVSI#OTC">CVSI</a>) shares closed down 5.16% 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 down 3.21% at $0.87</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 3.04% at $0.19</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 26, 2024

The conversation around cannabis legalization in Pennsylvania&nbsp;is pivoting towards a potential state-run model, akin to the existing system for alcohol sales.
This approach, which would involve using the framework of state-run liquor stores to manage and distribute recreational marijuana, aims to streamline operations and enhance revenue, positioning state-run weed shops as pivotal to <a href="https://www.benzinga.com/topic/pennsylvania-cannabis">PA&#39;s strategy</a> for regulating and capitalizing on the burgeoning cannabis market.
<h2>Governor&rsquo;s Proposal</h2>
Democratic Governor Josh Shapiro has reignited the push to legalize recreational marijuana in Pennsylvania, following in the footsteps of his predecessor, Tom Wolf. Shapiro&#39;s proposal suggests regulating and taxing cannabis like alcohol to boost state revenue&nbsp;and <a href="https://www.benzinga.com/general/biotech/24/04/38252079/weed-or-hemp-kansas-strict-thc-laws-nebraska-cuts-cbd-tax-supply-risks-in-minnesota-and-more">reform social injustices</a>.
The governor emphasized that the industry should create jobs and invest in communities disproportionately affected by past criminalization, proposing that taxes on legal&nbsp;sales could generate approximately $250 million annually within five years.
<h3>Legislative Dynamics</h3>
Even the GOP-dominated state Senate shows signs of shifting perspectives, with key figures open to discussing legalization.
The proposal sets the stage for a highly contested debate, with significant implications for the <a href="https://www.benzinga.com/topic/pennsylvania-cannabis">economy </a>and residents, particularly those with prior nonviolent marijuana offenses, whom Shapiro believes should have their records expunged.
<h3>Industry And Legislative Responses</h3>
Legislative proposals<a href="https://www.spotlightpa.org/news/2024/02/pennsylvania-marijuana-cannabis-legalization-josh-shapiro-legislature/"> differ notably</a> between the state House and Senate. The House bill, backed by 20 Democrats, advocates for state-run cannabis shops with the idea of&nbsp;maximizing&nbsp;revenue through direct state management and taxation of growers and processors.
In contrast, the Senate bill proposes leveraging existing medical marijuana dispensaries to facilitate quicker market entry for recreational use. This approach is favored by large industry players like Cresco Labs (OTC: <a class="ticker" href="https://www.benzinga.com/stock/crlbf#OTC">CRLBF</a>) and Trulieve (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tcnnf#OTC">TCNNF</a>), which argue it ensures safety and swift<a href="https://www.benzinga.com/general/biotech/23/09/34799636/pennsylvanias-farm-to-table-cannabis-bill-big-tobacco-vs-illicit-market-and-more"> market adaptation</a>.
<h3>Taxation And Market Concerns</h3>
The industry is split on Shapiro&rsquo;s proposed 20% tax on cannabis, in addition to the state&rsquo;s 6% sales tax. Critics argue that high taxation could drive consumers to neighboring states or the illicit market, undermining the legalization effort&rsquo;s goals of safety and regulation. Meanwhile, proponents of state control believe it would accelerate the start of sales and provide more substantial revenue streams.
<h3>Pennsylvania Cannabis Companies Shine Amid&nbsp;Sector Struggles</h3>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38386324/whos-winning-in-weed-analyst-looks-at-cannabis-markets-big-players-where-are-the-be">Local operators have shown resilience </a>with a 3% increase in Q1 2024. Key multi-state operators (MSOs) like Cresco Labs and Green Thumb Industries (OTC: <a class="ticker" href="https://www.benzinga.com/stock/gtbif#OTC">GTBIF</a>) play significant roles in this market. These companies, alongside others such as TerrAscend (OTC: <a class="ticker" href="https://www.benzinga.com/stock/trssf#OTC">TRSSF</a>), <a href="https://www.benzinga.com/markets/cannabis/24/02/37242307/jushi-holdings-revs-up-unleashing-torque-in-pennsylvania-and-virginias-cannabis-expansion">Jushi Holdings</a> (OTC: <a class="ticker" href="https://www.benzinga.com/stock/jushf#OTC">JUSHF</a>), and 4Front Ventures (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ffntf#OTC">FFNTF</a>), contribute to a robust industry landscape that is defying broader economic downturns by capitalizing on strategic market positioning and a solid existing infrastructure. This upward trend highlights Pennsylvania&#39;s potential as a pivotal state for cannabis growth and investment opportunities.
<h3>Pennsylvania Liquor Control Board</h3>
The Pennsylvania Liquor Control Board (PLCB) has emerged as a <a href="https://www.spotlightpa.org/news/2024/02/pennsylvania-marijuana-cannabis-legalization-josh-shapiro-legislature/">potential model for managing recreational marijuana sales</a>.
Discussions in legislative hearings have explored the PLCB&#39;s ability to handle increased responsibilities, such as enhanced ID checks, security measures, tax collection, and product approvals.
The board has expressed readiness to adapt to new regulations, emphasizing the need for clear guidance on managing these additional duties. The suggestion to utilize the PLCB&#39;s infrastructure for cannabis sales parallels the existing system for alcohol, aiming to ensure compliance and streamline the transition to legal marijuana sales.
Watch Thursday&#39;s discussion on the role of the PLCB below.&nbsp;
<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" frameborder="0" height="315" src="https://www.youtube.com/embed/uVrz56g9T_U?si=Z7hnu3Nrg2foBStL" width="560"></iframe>
Photo: AI-Generated Image.&nbsp;

JUSHI HLDGS INC CL B by Jushi Holdings Inc.

JUSHF

TRSSF

State-Run Vs. Private: Pennsylvania Debates Transition Of Liquor Store Model To Cannabis Distribution

<h3>GAINERS:</h3>
<ul>
<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 35.40% at $0.44</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 33.56% at $0.04</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 22.86% at $0.10</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 17.95% at $0.01</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 14.29% at $0.08</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 11.11% at $0.07</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 10.24% at $1.83</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 8.56% at $0.01</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 up 4.23% at $0.70</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 3.37% at $0.27</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 26.67% at $0.02</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 9.84% at $0.17</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 9.60% at $0.01</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 9.06% at $0.28</li>
<li><a href="https://www.benzinga.com/quote/GRWG">GrowGeneration</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRWG#NASDAQ">GRWG</a>) shares closed down 6.38% at $2.20</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 6.26% at $10.18</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 6.25% at $6.71</li>
<li><a href="https://www.benzinga.com/quote/CURLF">Curaleaf Holdings</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTC">CURLF</a>) shares closed down 5.94% at $4.75</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 5.74% at $33.50</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 down 5.60% at $11.80</li>
<li><a href="https://www.benzinga.com/quote/CRLBF">Cresco Labs</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CRLBF#OTC">CRLBF</a>) shares closed down 5.34% at $1.95</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 4.35% at $1.75</li>
<li><a href="https://www.benzinga.com/quote/FFNTF">4Front Ventures</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FFNTF#OTC">FFNTF</a>) shares closed down 3.80% at $0.09</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 3.37% at $0.19</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 3.20% at $0.20</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 3.11% at $2.18</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 3.03% at $1.27</li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

CARA

GENE

Marijuana Stock Movers For April 25, 2024

Recent insights from Viridian Capital Advisors shed light on the bewildering trends in cannabis stocks. Year-to-date (YTD) data indicates that U.S. multi-state operators (MSOs) and Canadian licensed producers (LPs) have experienced drastically different fates.
At a glance, U.S. MSOs show an average return of 26.4%, towering over Canadian LPs&#39; modest 1.3%.
However, this picture is deceiving.
If we remove the outliers&mdash;Trulieve Cannabis (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tcnnf#OTC">TCNNF</a>), which saw significant gains, and Tilray Brands (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tlry#NASDAQ">TLRY</a>), which experienced sharp declines&mdash;the true performance is closer: MSOs at 16.79% and LPs at 25.97%.
<h3>Market Irrationality</h3>
According to <a href="https://www.benzinga.com/topic/viridian-capital-advisors">Viridian</a>, these fluctuations suggest an <a href="http://dealtracker.viridianca.com/viridian-key-insights/">irrational market behavior</a>. Before 4/20 a few Canadian stocks rose by more than 50% YTD. The volatility reflects not just company performance but broader economic factors like regulatory changes and market speculation.
<img alt="mso-2.png" src="https://www.benzinga.com/files/u503488/mso-2.png" style="height:459px; width:633px" />
<h2>Understanding Outliers: Tilray Brands, Inc. Struggles Despite Revenue Gains</h2>
Despite operational advances, Tilray&nbsp;faces <a href="https://www.benzinga.com/news/24/04/38168839/why-tilray-brands-shares-are-trading-lower-by-around-22-here-are-other-stocks-moving-in-tuesdays-mid">considerable market challenges</a>. The company reported a 30% year-over-year increase in third-quarter net revenue to $188.3 million but also a significant net loss of $105 million, a slight improvement from the previous year&rsquo;s $1.2 billion loss.
However, a revision in the <a href="https://www.benzinga.com/markets/cannabis/24/04/38160302/cannabis-giant-tilray-reports-30-yoy-increase-in-q3-net-revenue-updates-fy-2024-guidance">financial outlook</a>&mdash;including an expected inability to generate positive adjusted free cash flow for fiscal year 2024&mdash;prompted a sharp 22.2% stock price drop.
<h3>Analyst Caution And Long-Term Performance Concerns</h3>
Market analysts <a href="https://www.benzinga.com/markets/cannabis/24/04/38168118/tilray-stock-is-tumbling-tuesday-whats-going-on">remain cautious</a>, downgrading Tilray&#39;s stock target amidst ongoing operational challenges. Over the past five years, Tilray&rsquo;s stock has declined annually by 48.47%. Continued trends could <a href="https://www.benzinga.com/markets/cannabis/24/04/38278781/whats-going-on-with-marijuana-grower-tilrays-stock">diminish stock value</a> to as low as $0.07, highlighting a critical need for operational improvements.
<h2>Trulieve Cannabis Corp.: Strategic Success And Market Growth</h2>
Conversely, Trulieve&nbsp;has surpassed revenue expectations with Q4 reporting $287 million, credited to strategic cash preservation and growth-focused investments.
With <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37321465/cannabis-stocks-gear-up-for-germanys-new-market-check-out-whos-set-to-win-big">Germany&rsquo;s </a>recent cannabis legalization and potential<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38037571/floridas-6b-cannabis-market-anticipates-400-growth-following-court-decision-allowin"> market expansion in Florida</a>, Trulieve is poised for significant growth, potentially increasing its valuation by over 150% with the upcoming 2024 legalization ballot.
<h3>Dominance And Expansion In&nbsp;Core Markets</h3>
Trulieve maintains a <a href="https://www.benzinga.com/markets/cannabis/24/02/37391486/weed-giant-trulieve-beats-q4-revenue-estimates-reports-higher-net-loss-for-full-year">strong market presence</a>, leading in flower and extract sales, particularly in Florida where it operates 193 dispensaries. The company&#39;s proactive expansion and strategic acquisitions, including the HEXO acquisition, solidify its market dominance and operational efficiency, supporting robust stock performance despite broader market volatility.
<h3>Why It Matters</h3>
For new investors, understanding these dynamics is crucial. The cannabis market is influenced by regulatory shifts, such as those in <a href="https://www.benzinga.com/topic/canada-cannabis">Canada</a>, and the potential for new markets like <a href="https://www.benzinga.com/topic/germany-cannabis">Germany</a>.
This makes the sector particularly prone to rapid changes and speculation.
Recognizing these factors helps investors discern between temporary hype and genuine growth potential, providing a safeguard against common market pitfalls and helping to navigate the sector&#39;s notorious highs and lows.
Photo: AI-Generated Image.&nbsp;

Cannabis Companies' Gains - U.S. Versus Canada: Averages Can Be Deceiving, Irrational Market Behavior To Blame?

<h3>GAINERS:</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 up 235.71% at $0.02</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 22.64% at $0.01</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 18.87% at $0.03</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 17.00% at $0.01</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 13.00% at $0.32</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 12.80% at $0.09</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 10.18% at $1.84</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 7.91% at $0.02</li>
<li><a href="https://www.benzinga.com/quote/CRLBF">Cresco Labs</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CRLBF#OTC">CRLBF</a>) shares closed up 4.98% at $2.06</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 4.63% at $0.18</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 4.61% at $0.04</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 4.29% at $0.03</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 4.03% at $0.31</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 3.55% at $0.07</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 3.43% at $0.20</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 3.09% at $0.05</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 3.07% at $10.86</li>
</ul>
<h3>LOSERS:</h3>
<ul>
<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 23.84% at $0.01</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 23.75% at $0.00</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 19.40% at $0.01</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 18.68% at $0.03</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 14.38% at $0.03</li>
<li><a href="https://www.benzinga.com/quote/OILFF">Nextleaf Solutions</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/OILFF#OTC">OILFF</a>) shares closed down 13.22% at $0.08</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 8.17% at $0.55</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 7.84% at $0.01</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 6.02% at $1.66</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 5.67% at $0.21</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 5.26% at $0.06</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 5.19% at $0.26</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 4.15% at $6.23</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 3.25% at $2.35</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 3.04% at $0.01</li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

CPHRF

Bullish Sentiment Across The Cannabis Space - Check Full Movers For April 24, 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 28.89% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/SOLCF">SOL Glb Inv</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SOLCF#OTC">SOLCF</a>) shares closed up 26.67% at $0.04</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 18.33% at $0.29</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 17.20% at $7.42</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 14.90% at $9.02</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 13.64% at $0.01</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 10.00% at $0.02</li>
<li><a href="https://www.benzinga.com/quote/GRWG">GrowGeneration</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRWG#NASDAQ">GRWG</a>) shares closed up 9.29% at $2.45</li>
<li><a href="https://www.benzinga.com/quote/SNDL">SNDL</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNDL#NASDAQ">SNDL</a>) shares closed up 9.07% at $2.07</li>
<li><a href="https://www.benzinga.com/quote/VFF">Village Farms Intl</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFF#NASDAQ">VFF</a>) shares closed up 8.26% at $1.37</li>
<li><a href="https://www.benzinga.com/quote/TLRY">Tilray Brands</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) shares closed up 6.98% at $1.84</li>
<li><a href="https://www.benzinga.com/quote/CRLBF">Cresco Labs</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CRLBF#OTC">CRLBF</a>) shares closed up 6.57% at $2.01</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 6.18% at $0.03</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 up 6.14% at $1.08</li>
<li><a href="https://www.benzinga.com/quote/CRON">Cronos Group</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRON#NASDAQ">CRON</a>) shares closed up 4.66% at $2.47</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 4.50% at $6.50</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 3.75% at $0.10</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 3.70% at $0.04</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 3.49% at $10.64</li>
<li><a href="https://www.benzinga.com/quote/CNBX">CNBX Pharmaceuticals</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CNBX#OTC">CNBX</a>) shares closed up 3.13% at $0.01</li>
</ul>
<h3>LOSERS:</h3>
<ul>
<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 42.36% at $0.06</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 20.00% at $0.00</li>
<li><a href="https://www.benzinga.com/quote/RMHB">Rocky Mountain High</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RMHB#OTC">RMHB</a>) shares closed down 18.03% at $0.01</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 12.33% at $0.08</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 11.11% at $0.02</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 10.74% at $0.07</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 9.68% at $0.03</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 7.81% 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 down 7.49% at $0.03</li>
<li><a href="https://www.benzinga.com/quote/FFNTF">4Front Ventures</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FFNTF#OTC">FFNTF</a>) shares closed down 7.02% at $0.09</li>
<li><a href="https://www.benzinga.com/quote/ZDPY">Zoned Props</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ZDPY#OTC">ZDPY</a>) shares closed down 6.81% at $0.54</li>
<li><a href="https://www.benzinga.com/quote/CNTMF">Cansortium</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CNTMF#OTC">CNTMF</a>) shares closed down 6.72% at $0.17</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 6.66% at $0.91</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 6.43% at $0.60</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 6.00% at $0.05</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 5.32% at $0.19</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 4.33% at $2.59</li>
<li><a href="https://www.benzinga.com/quote/CARA">Cara Therapeutics</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CARA#NASDAQ">CARA</a>) shares closed down 3.19% at $0.71</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 3.11% at $1.66</li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

BLGVF

Marijuana Stock Movers For April 23, 2024

In the first quarter of 2024, the cannabis sector faces a mixed economic landscape with a notable sequential decline in sales across several states.
<a href="https://www.benzinga.com/topic/pablo-zuanic">Pablo Zuanic</a>, senior analyst&nbsp;of Zuanic &amp; Associates has detailed insights into the sector&#39;s performance, particularly focusing on multi-state operators (MSOs) and their exposure across pivotal states such as Arizona, Connecticut, Florida, and others.
<h2>Q1 2024 Sector-Wide Financial Highlights</h2>
Overall, Q1 saw a downward trend in sales, except for a few states like Florida and Pennsylvania.
The most significant sales declines were observed in <a href="https://www.benzinga.com/topic/connecticut-cannabis">Connecticut</a> (-6%) and Illinois (-4%), with moderate decreases across <a href="https://www.benzinga.com/topic/massachusetts-cannabis">Massachusetts</a> (-3%), <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/11/35991290/analyst-inside-look-trends-and-opportunities-in-ohios-emerging-recreational-cannabi">Ohio</a> (-2%), and both Michigan and <a href="https://www.benzinga.com/topic/maryland-cannabis">Maryland</a> experiencing a -1% change.
Pennsylvania, by contrast, reported a 3% increase, showing resilience amidst broader sector struggles. Each state showcased unique trends affecting both sales and market dynamics.
<h3>Q1 2024 State-by-State Financial Performance And Leading Companies</h3>
<ul>
<li>California: Faced a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37971495/californias-weed-sales-decline-market-ripe-for-consolidation-biggest-companies-like">6% year-on-year decline</a>, adjusting to a $5 billion market size. Notable MSOs like Cresco Labs (OTC: <a class="ticker" href="https://www.benzinga.com/stock/crlbf#OTC">CRLBF</a>) and Green Thumb Industries (OTC: <a class="ticker" href="https://www.benzinga.com/stock/gtbif#OTC">GTBIF</a>) have scaled back operations, reflecting a <a href="https://www.benzinga.com/topic/california-cannabis">strategic pivot within the state</a>. Other prominent MSOs include TerrAscend (OTC: <a class="ticker" href="https://www.benzinga.com/stock/trssf#OTC">TRSSF</a>) and 4Front Ventures (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ffntf#OTC">FFNTF</a>).</li>
<li>Michigan: A standout in the sector with a robust 24% year-on-year growth, leading to $793 million in sales for the quarter. Despite stable retail prices, the wholesale market has presented challenges with narrower retailer spreads. <a href="https://www.benzinga.com/topic/michigan-cannabis">Leading MSOs in Michigan</a> include Ascend Wellness (OTC: <a class="ticker" href="https://www.benzinga.com/stock/aawh#OTC">AAWH</a>), Cresco Labs, and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37681427/marijuana-company-verano-holdings-worth-2-1b-outprices-its-expected-2024-earnings">Verano Holdings</a> (OTC: <a class="ticker" href="https://www.benzinga.com/stock/vrnof#OTC">VRNOF</a>).</li>
<li>Illinois: While there was a sequential sales dip, the year-on-year figures were up by 6%, hinting at a market still finding its footing with <a href="https://www.benzinga.com/topic/illinois-cannabis">increased retail establishments </a>but facing pricing pressures. <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38282615/cannabis-brands-leading-market-expansion-in-east-midwest-a-look-at-prices-and-trend">Dominant players</a> include Cresco Labs, Green Thumb Industries, and Curaleaf Holdings (OTC: <a class="ticker" href="https://www.benzinga.com/stock/curlf#OTC">CURLF</a>).</li>
<li>Florida: Displayed growth stability with a slight 1% sequential increase and a 14% rise compared to the previous year. The market benefits from a <a href="https://www.benzinga.com/topic/florida-cannabis">consistent expansion</a> in both retail locations and patient registration, indicating sustained demand. Leading companies are Trulieve Cannabis (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tcnnf#OTC">TCNNF</a>) and Curaleaf Holdings, with significant market shares.</li>
<li>New Jersey and Nevada: Both states are grappling with market saturation and deflation, although <a href="https://www.benzinga.com/topic/nevada-cannabis">Nevada&rsquo;s</a> tourism boost offers some cushion against declining retail prices. In <a href="https://www.benzinga.com/topic/new-jersey-cannabis">New Jersey</a>, key operators include Curaleaf Holdings and Green Thumb Industries. In Nevada, the market is led by companies like Planet 13 Holdings (OTC: <a class="ticker" href="https://www.benzinga.com/stock/plnhf#OTC">PLNHF</a>) and Curaleaf Holdings, both benefiting from the tourist influx in Las Vegas.</li>
</ul>
<h3>Q1 2024 Operational Insights And MSO Performance</h3>
The rising number of retail locations, particularly in Illinois and New Jersey, has diluted revenues per store, pointing to an over-expansion that the market may not sustain in the longer term.
Leading MSOs like Ascend Wellness, Cresco Labs, and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37707380/green-thumbs-edge-over-s-p-500-etfs-cannabis-investor-confidence-propels-expansion-">Green Thumb Industries</a> have effectively managed their brand distribution, which is crucial as the market shifts towards more mainstream retail models.
<h2>Comparative Analysis: 4Q23 vs. 1Q24 Cannabis Market Trends</h2>
<h3>Sales Trends and Economic Indicators</h3>
Analyzing quarterly changes, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36745790/2024-oscars-of-marijuana-equity-analyst-nominations-spotlight-key-state-performers">the end of 2023</a> and the beginning of 2024 saw varying sales trends across key cannabis markets.
California saw a continuation of downward trends, moving from a 12% YoY decrease in 4Q23 to a 6% YoY decrease in 1Q24, suggesting a slight improvement in the market&#39;s decline rate. Conversely, Michigan exhibited strong growth in both quarters, with a 24% YoY increase in 1Q24 following a 27% YoY increase in 4Q23, highlighting its robust market expansion.
In <a href="https://www.benzinga.com/topic/arizona-cannabis">Arizona</a>, sales slightly recovered in 1Q24 with a decline of 6% YoY, compared to a 6% YoY decline in 4Q23, indicating consistent market challenges year-over-year.
<h3>Retail And Pricing Dynamics</h3>
The sector&#39;s retail landscape reflected notable differences in store economics and pricing pressures. For example, Illinois reported a sales decrease of 4% sequentially in 1Q24 after a positive trend in 4Q23 (+3% seq).
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38037571/floridas-6b-cannabis-market-anticipates-400-growth-following-court-decision-allowin">Florida&#39;s market showed stable growth</a> in both quarters but with a slight increase in sales velocity from flat sequential growth in 4Q23 to +1% sequentially in 1Q24. Retail prices across these states continued to stabilize or decline slightly, impacting overall revenue per store and pointing to a trend of market saturation and increased competition.
<h3>Strategic Shifts And MSO Activities</h3>
Multi-state operators (MSOs) adjusted their operations strategically to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38226873/analyst-reacts-to-fda-commish-comments-medical-and-recreational-cannabis-could-have">accommodate changing conditions</a>, scaling their activities in saturated markets like New Jersey and Nevada while expanding in states like Florida and <a href="https://www.benzinga.com/markets/cannabis/24/02/37242307/jushi-holdings-revs-up-unleashing-torque-in-pennsylvania-and-virginias-cannabis-expansion">Pennsylvania</a>, where positive sales trends offered growth opportunities that companies like Trulieve and Curaleaf capitalized on.
Photo: AI-Generated Image.&nbsp;

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PLNHF

Who's Winning In Weed? Analyst Looks At Cannabis Market's Big Players, Where Are The Best Bets?

As the marijuana industry expands, it is important to develop appropriate safety procedures in the working environment. As with any new industry, those safety protocols are often established only after an unfortunate incident. 
In Jan. 2022, the <a href="https://www.benzinga.com/markets/cannabis/23/11/35844553/cannabis-employee-died-from-occupational-asthma-fed-report-confirms-first-such-case-in-us" target="_blank" rel="noreferrer noopener">first <a href="https://www.benzinga.com/markets/cannabis/23/11/35844553/cannabis-employee-died-from-occupational-asthma-fed-report-confirms-first-such-case-in-us" target="_blank" rel="noreferrer noopener">occupational-related </a>cannabis death from asthma</a> occurred in Holyoke, Massachusetts when Lorna L. McMurrey (27) died while working at a Trulieve (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTCQX">TCNNF</a>) production facility.
Last week, two officials with the federal Occupational Safety and Health Administration held a webinar presenting the agency's latest guidance for "protecting workers within the cannabis industry," <a href="https://www.marijuanamoment.net/federal-osha-officials-discuss-marijuana-industry-worker-safety/" target="_blank" rel="noreferrer noopener">writes</a> Marijuana Moment's Ben Adlin. 
Yasmine Daniels, an industrial hygienist talked about OSHA's federal and state regulations, and Virginia Weaver, an MD and medical officer talked about McMurrey's death and ways to prevent such incidents. 
During the online event organized by the Board of Certified Safety Professionals Weaver said, "The most important thing is involvement from the industry to train workers and managers to identify and report symptoms of occupational allergy. Workers who develop a runny nose, rhinitis, congestion, eye or throat irritation, skin rash or hives—or, even more importantly, if it's already progressed to lung symptoms, with cough, wheezing or shortness of breath—they need to know who to report that to in their workplace as soon as these develop."
<h2 class="wp-block-heading">Marking Hazardous Chemicals&nbsp;</h2>
With cannabis being illegal at the federal level, and legal in many states, federal OSHA or State Plans don't regulate its production, sale or use in legal states. However, OSHA's or State's Plans' safety and health standards and regulations apply to employers engaged in commercial cannabis production and sales, reads Daniels' <a href="https://on24static.akamaized.net/event/43/94/32/4/rt/1/documents/resourceList1713284144587/bcspcannabistalk04042410am1713284144587.pdf" target="_blank" rel="noreferrer noopener">presentation</a>. 
She also stressed that employers&#8217; duties include marking containerizes of hazardous chemicals. "It is in fact the employer's responsibility to do a workplace hazard assessment to determine the employees' potential of being exposed to that chemical hazard," Daniels said. "And if in fact there is, then the employer should have a hazard communication program in place."
<h2 class="wp-block-heading">Occupational Setting Exposure Versus Recreational Use&nbsp;</h2>
Weaver, who led the investigation of McMurrey&#8217;s death, said that the key point she wanted to highlight is that "the magnitude of exposures in the occupational setting is way, way more than the recreational setting. There are some who think that because a number of cannabis employees may also use the product recreationally, they couldn't possibly develop any work-related symptoms from it," she said. "That's in fact not the case. The exposures in the occupational setting are much greater."
She added that there were 10 cases of cannabis-related occupational asthma in Washington State where a 2020 survey of cannabis workers revealed that 22 of 31 respondents had one or more work-related symptoms, such as respiratory troubles and eye, nasal and skin-related issues. 
To improve health and safety standards across this booming industry it is important to establish improved detection protocols, referrals to appropriate specialists and have robust research, Weaver pointed out.
"Importantly, we need research because we need to know which exposures and job titles are the highest risk for these respiratory outcomes," she said. "Because you can't prevent what you aren't able to identify."
In November Laura Bruneau, the mother of Lorna McMurrey filed a lawsuit against Trulieve <a href="https://www.benzinga.com/markets/cannabis/23/11/35915235/mother-of-deceased-cannabis-worker-sues-marijuana-giant-claiming-wrongful-death-and-negligence" target="_blank" rel="noreferrer noopener">claiming wrongful death and negligence. </a>
Following the incident and the lawsuit, the Massachusetts Department of Public Health (DPH) started to work on safety guidance for cannabis workers. Dr. Robert Goldstein of the DPH called on the state to work with healthcare providers to protect people who work in similar jobs to that of McMurrey&#8217;s.
"The legalized cannabis industry is relatively new, and the impact on the health and safety of workers demands our careful attention," Goldstein said in November.&nbsp;
See Also:<a href="https://www.benzinga.com/markets/cannabis/22/10/29271592/family-of-late-trulieve-worker-speaks-up-to-prevent-similar-tragedies-as-company-contests-findin" target="_blank" rel="noreferrer noopener">&nbsp;Family Of Late Trulieve Worker Speaks Up To Prevent Similar Tragedies As Company Contests Findings</a>
Photo: Courtesy of&nbsp;<a target="_blank" href="https://www.shutterstock.com/g/NattawitKhomsanit" rel="noreferrer noopener">Nattawit Khomsanit</a>&nbsp;via Shutterstock

Federal OSHA Experts Discuss Safety Strategies To Protect Cannabis Industry Workers Whose Exposure Is Greater Than In Recreational Setting

This&nbsp;4/20 cannabis retailers anticipate <a href="https://www.benzinga.com/markets/cannabis/23/04/31898603/exclusive-bdsa-analyst-digs-into-new-cannabis-markets-behaviors-trends-social-bonds-on-420">record-breaking sales</a> fueled by last year&#39;s +130% spike and the fortunate alignment of this year&#39;s celebration falling on&nbsp;a Saturday.
As dispensaries gear up for the influx of customers, all eyes are on the leading brands and cannabis companies poised to dominate the market.
But, which cannabis companies are strategically positioned to capitalize on the anticipated surge in demand for cannabis products on 4/20? And, what brands are leading in sales across different product categories and states?
<h3>Brand Dominance In The East And Midwest</h3>
A sector analysis by <a href="https://www.benzinga.com/topic/pablo-zuanic">Pablo Zuanic </a>of Zuanic &amp; Associates sheds light on the evolving landscape of the cannabis industry, particularly in Eastern states. <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38282615/cannabis-brands-leading-market-expansion-in-east-midwest-a-look-at-prices-and-trend">Notable brands </a>like MariMed&#39;s Betty&rsquo;s Eddies (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mrmd#OTC">MRMD</a>) and Cresco&#39;s High Supply (OTC: <a class="ticker" href="https://www.benzinga.com/stock/crlbf#OTC">CRLBF</a>) have emerged as frontrunners in key segments across Massachusetts,<a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/07/33329222/the-maryland-effect-a-game-changer-for-the-east-coast-cannabis-industry"> Maryland</a>, and Michigan.
In <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37041204/illinois-weed-scorecard-super-bowl-edition-market-leaders-store-surge-and-sales-ana">Illinois</a>, Cresco&#39;s High Supply leads the flower category with a 13.2% market share, showcasing a competitive market with diverse pricing strategies.
Massachusetts sees Ascend Wellness&#39;s Simply Herb (OTC: <a class="ticker" href="https://www.benzinga.com/stock/aawh#OTC">AAWH</a>) and Cresco&#39;s High Supply as leading brands in the flower segment, with a significant decrease in average retail prices observed across product formats.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37081838/fast-track-recap-colorado-michigan-weed-sales-decline-virginia-eyes-legal-market-st">Michigan&#39;s market</a> remains highly fragmented, with Red White &amp; Bloom Brands Inc. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/rwbyf#OTC">RWBYF</a>), TerrAscend (OTC: <a class="ticker" href="https://www.benzinga.com/stock/trssf#OTC">TRSSF</a>), 4Front (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ffntf#OTC">FFNTF</a>), Cresco&#39;s High Supply&nbsp;and Ascend Wellness&#39;s Ozone emerging as top contenders in the flower category.
<h3>California&#39;s Retail Landscape</h3>
In California, despite facing a decline in cannabis sales, several brands and companies continue to dominate the market. Gold Flora (OTC: <a class="ticker" href="https://www.benzinga.com/stock/gram#OTC">GRAM</a>) and Glasshouse (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ghbwf#OTC">GHBWF</a>) have been recognized for their significant <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37971495/californias-weed-sales-decline-market-ripe-for-consolidation-biggest-companies-like">market shares and financial performance</a>. Additionally, StateHouse (OTC: <a class="ticker" href="https://www.benzinga.com/stock/sthzf#OTC">STHZF</a>) remains a key player, navigating through the challenging market dynamics to maintain its presence and market share.
<h3>Nevada&#39;s Cannabis Scene: Key Brands And Companies</h3>
Nevada&#39;s cannabis market presents a dynamic landscape with a mix of established brands and emerging players. Leading brands such as STIIIZY, Alternative Medicine, WYLD &amp; Shine (by Green Thumb (OTC: <a class="ticker" href="https://www.benzinga.com/stock/gtbif#OTC">GTBIF</a>))&nbsp;and CAMP (by The Source) have solidified their positions in the <a href="https://www.benzinga.com/partner/biotech/24/04/38267704/theriva-biologics-hits-several-milestones-in-2023-positioning-itself-for-growth-as-the-firm-targe">market</a>.
Public multi-state operators (MSOs) like AYR Wellness (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ayrwf#OTC">AYRWF</a>), Curaleaf Holdings (OTC: <a class="ticker" href="https://www.benzinga.com/stock/curlf#OTC">CURLF</a>), Green Thumb Industries, Planet 13 Holdings (OTC: <a class="ticker" href="https://www.benzinga.com/stock/plnhf#OTC">PLNHF</a>), iAnthus (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ithuf#OTC">ITHUF</a>) and Verano (OTC: <a class="ticker" href="https://www.benzinga.com/stock/vrnof#OTC">VRNOF</a>) are actively shaping Nevada&#39;s competitive environment.
<h3>Florida&#39;s Cannabis Industry: Main Players And Brands</h3>
Florida&#39;s burgeoning cannabis industry is marked by <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36745790/2024-oscars-of-marijuana-equity-analyst-nominations-spotlight-key-state-performers">diverse MSO performance</a>. Key players including Trulieve (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tcnnf#OTC">TCNNF</a>), Verano&nbsp;and AYR are capitalizing on the state&#39;s growing market.
With Trulieve leading with the highest number of stores, followed closely by Verano, the competition among MSOs intensifies as they seek to capture market share and establish dominance in this lucrative market.
<h3>New York&#39;s Emerging Market: Companies And Brands</h3>
New York&#39;s cannabis market is on the brink of significant expansion, presenting opportunities for established players and newcomers alike.
With the potential for over 1,000 recreational stores to open MSOs&nbsp;are <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/12/36250035/a-2024-investor-guide-to-new-yorks-cannabis-market-expansion-the-mso-wealth-roadmap">strategically positioning themselves to capitalize on this growth</a>.
companies like Curaleaf, The Cannabist Company Holdings Inc. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/cbstf#OTC">CBSTF</a>) (formerly Columbia Care), Goodness Growth (OTC: <a class="ticker" href="https://www.benzinga.com/stock/gdnsf#OTC">GDNSF</a>) MedMen (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mmnff#OTC">MMNFF</a>) and Green Thumb Industries (OTC: <a class="ticker" href="https://www.benzinga.com/stock/gtbif#OTC">GTBIF</a>) are poised to lead the charge in this evolving market.
<h3>Pre-Roll Market Insights</h3>
The <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/05/32286591/exclusive-why-infused-pre-rolls-are-the-next-big-thing-in-the-cannabis-industry-say">pre-roll segment exhibits distinct characteristics</a> across Eastern states, with brands like Dogwalkers and Happy Valley commanding significant market shares in Illinois and Massachusetts, respectively.
As the cannabis industry braces for another 4/20 frenzy, the competition among leading brands and cannabis companies intensifies, promising both challenges and opportunities in a rapidly evolving market landscape. Stay tuned as retailers gear up for what could be one of the most lucrative 4/20 celebrations yet.
Photo: AI-Generated Image.&nbsp;

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4/20 Cannabis Retail Frenzy: Leading Brands Ready For Record Sales Surge - Who Will Lead?

<h3>GAINERS:</h3>
<ul>
<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 72.62% 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 up 26.96% at $0.06</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 21.02% at $0.08</li>
<li><a href="https://www.benzinga.com/quote/CNBX">CNBX Pharmaceuticals</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CNBX#OTC">CNBX</a>) shares closed up 9.62% at $0.01</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 8.57% at $0.00</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 8.09% at $0.04</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 7.42% at $39.24</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 7.10% 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 up 4.22% at $0.22</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 up 3.85% at $0.27</li>
</ul>
<h3>LOSERS:</h3>
<ul>
<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 26.67% 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 10.95% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/OILFF">Nextleaf Solutions</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/OILFF#OTC">OILFF</a>) shares closed down 8.98% at $0.09</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 8.89% at $0.09</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 8.19% at $1.62</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 7.92% at $0.07</li>
<li><a href="https://www.benzinga.com/quote/BLGVF">Belgravia Hartford Cap</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BLGVF#OTC">BLGVF</a>) shares closed down 7.19% at $0.01</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 6.59% at $0.31</li>
<li><a href="https://www.benzinga.com/quote/TCNNF">Trulieve Cannabis</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>) shares closed down 5.95% at $10.74</li>
<li><a href="https://www.benzinga.com/quote/GENE">Genetic Technologies</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GENE#NASDAQ">GENE</a>) shares closed down 4.92% at $2.32</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 4.76% at $2.00</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 down 4.33% at $12.37</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 3.04% at $0.63</li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Cannabis Stock Movers For April 19, 2024

<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.

AUSAF

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The cannabis sector dropped 18.8% in the last 3 days and it probably has further to go, based on historical data.so the question now is how much further it will drop before stabilizing. Time will tell. Stay tuned. 

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Press Releases

Trulieve Announces April 2024 Event Participation

Trulieve Cannabis Corp. to Hold First Quarter 2024 Results Conference Call on May 9, 2024