Tilray Brands 株価情報 (NASDAQ: TLRY)

最新ニュース Tilray Brands (NASDAQ:TLRY) 株価情報

Tilray Brands

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

Tilray Brands Inc

Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) is set to face a multibillion-dollar lawsuit following the <a href="https://www.benzinga.com/general/social-media/24/06/39259832/metas-legal-battle-over-cambridge-analytica-scandal-heads-to-supreme-court">dismissal of its appeal</a> by the U.S. Supreme Court over the Cambridge Analytica data scandal.
What Happened: The Supreme Court, which heard arguments on Meta's appeal on Nov. 6, gave no explanation for the dismissal.&nbsp;
It only stated that the case was being "dismissed as improvidently granted," <a href="https://www.bloomberg.com/news/articles/2024-11-22/facebook-appeal-over-shareholder-suit-dropped-by-supreme-court?srnd=phx-technology">reported</a> Bloomberg.&nbsp;
This dismissal increases the likelihood of Mark Zuckerberg's Meta facing a costly settlement, potentially as large as $2 billion, according to Bloomberg Intelligence analyst Matthew Schettenhelm.
In a statement, Meta has expressed disappointment and maintained that the plaintiff&#8217;s claims are baseless. "We will continue to defend ourselves as this case is considered by the district court."
See Also: <a href="https://www.benzinga.com/24/11/42053396/why-chinese-tech-giants-alibaba-bytedance-and-meituan-are-expanding-their-ai-footprints-in-silicon-valley-amid-us-efforts-to-block-progress?itm_source=parsely-api">China&#8217;s Tech Giants Alibaba, ByteDance, And Meituan Are Expanding Their Silicon Valley AI Footprints Amid US Efforts To Block Progress</a>
Meta is accused of misleading shareholders about the risks associated with the 2018 Cambridge Analytica scandal, involving the unauthorized use of personal data from over 30 million users.
The shareholders argue that revelations about the breach eventually led to two 2018 price drops that cost the company more than $200 billion in market value.
Meta did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga&#8217;s</a> request for a statement.
Why It Matters: Meta faced another legal setback in October when a U.S. District Judge rejected the company's attempt to dismiss claims made in two separate lawsuits filed by U.S. states.
The lawsuits accused <a href="https://www.benzinga.com/news/24/10/41349398/mark-zuckerbergs-meta-to-face-lawsuits-over-teen-social-media-addiction-judge-rejects-dismissal-moti">Meta of contributing to mental health</a> issues among teenagers by making its platforms addictive.
Moreover, shareholder lawsuits have been a common occurrence in the tech industry. For instance, In October Alibaba Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) agreed to a $433.5 million settlement in a class-action l<a href="https://www.benzinga.com/markets/equities/24/10/41559403/alibaba-agrees-to-433-5m-settlement-in-shareholder-class-action-lawsuit">awsuit filed by its shareholders</a>.
Similarly, Tilray Brands Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) also <a href="https://www.benzinga.com/news/legal/24/11/42015978/shareholder-lawsuit-challenges-tilrays-voting-tactics-for-authorized-share-increase">faced a shareholder lawsuit</a> accusing the company of misleading voting practices.
Currently, the Supreme Court is also reviewing an appeal by <a href="https://www.benzinga.com/news/legal/24/11/41960485/nvidias-crypto-past-returns-to-haunt-as-supreme-court-signals-green-light-for-lawsuit">Nvidia Corporation</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), which faces a lawsuit alleging it <a href="https://www.benzinga.com/news/legal/24/11/41960485/nvidias-crypto-past-returns-to-haunt-as-supreme-court-signals-green-light-for-lawsuit">misled shareholders about</a> its dependence on crypto-mining revenue ahead of a market crash.
Price Action: Meta&#8217;s shares dropped 0.7% on Friday, ending the day at $559.14. In after-hours trading, the stock gained 0.098%, reaching $559.69 as of this writing, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next:
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<li><a href="https://www.benzinga.com/24/11/42132292/mark-zuckerbergs-meta-takes-on-64b-pig-butchering-scams-targeting-people-through-dating-apps-social-media-crypto-investing-and-other-apps">Mark Zuckerberg&#8217;s Meta Cracks Down On $64B &#8216;Pig Butchering&#8217; Scams Involving Dating Apps, Social Media And Crypto Investing</a></li>
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Meta Faces Multibillion-Dollar Lawsuit As Supreme Court Dismisses Appeal In Cambridge Analytica Data Scandal

Germany&#8217;s medical cannabis imports reached 20.1 tons in Q3 2024, a substantial increase from previous quarters. This surge follows the April 2024 revision of the country&#8217;s narcotics law, which has facilitated greater access to medical cannabis. 
Despite this growth, medical cannabis users still represent less than 0.3% of the population, indicating significant potential for market expansion.
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<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can't afford to miss out if you&#8217;re serious about the business.</li>
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<h3 class="wp-block-heading">Rejection Rates And Market Dynamics</h3>
Historically, approximately 40% of imported cannabis in Germany has been either rejected or re-exported, with pharmacies purchasing about 60% of imports, according to analyst <a href="https://zuanicgroup.com/">Pablo Zuanic</a> of Zuanic and Associates.
In Q3 2024, as importers rushed to build inventories, rejection rates likely increased, potentially resulting in pharmacies purchasing between 50% and 55% of imports. 
This suggests that out of the 20.1 tons imported, pharmacies acquired between 10 and 11 tons, doubling the levels seen before the April reforms.
<h3 class="wp-block-heading">Shifts In Exporter Market Shares</h3>
<a href="https://www.benzinga.com/topic/canada-cannabis">Canada</a> remains the largest supplier, exporting 8.1 tons to<a href="https://www.benzinga.com/topic/germany-cannabis"> Germany</a> in Q3 2024. However, its market share declined to 40% from 59% in Q1.&nbsp;Several Canadian companies actively operate in Germany's cannabis market, including Aurora Cannabis Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACB#NASDAQ">ACB</a>), Canopy Growth Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>), and Tilray Brands Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>), leveraging their expertise in cultivation and distribution to meet the growing demand.
<a href="https://www.benzinga.com/topic/portugal-cannabis">Portugal</a>&#8216;s share increased to 21%, with <a href="https://www.benzinga.com/topic/denmark">Denmark</a> at 13%, and Spain and Uruguay each contributing 5%. Notably, the Netherlands&#8217; share dropped to 2% from 8% in 2023.
Read Also: <a href="https://www.benzinga.com/general/market-summary/24/11/42100955/the-u-s-cannabis-strategy-no-ones-talking-about-inside-canopys-300m-plan">The U.S. Cannabis Strategy No One&#8217;s Talking About: Inside Canopy&#8217;s $300M Plan</a>
<h3 class="wp-block-heading">Implications For The Market</h3>
The annualized value of Germany&#8217;s medical cannabis market is estimated at €352 million (US$375 million). According to Zuanic, "With less than 0.3% of the population currently using medical cannabis, the market remains underdeveloped but has immense growth potential."
Zuanic explains that if Germany reaches a 1% penetration rate, similar to Canada&#8217;s, "that would imply more than 4-5x upside." However, achieving this growth will require <a href="https://www.benzinga.com/general/biotech/24/08/40298228/think-you-can-do-it-all-20-000-reasons-why-automation-outperforms-a-broad-approach-in-cannabis">addressing key challenges</a>. "More consistent and ample supplies across price and quality spectrums, new formats being allowed, and streamlined prescription systems."
Despite these hurdles, Zuanic says he is still optimistic. "It is still early days, but the German medical cannabis market could accelerate as these issues along the supply chain improve," he added, signaling the potential for significant expansion in this nascent market.
Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/11/41997646/tilray-joins-german-cannabis-fiesta-with-first-locally-grown-strains">Tilray Joins German Cannabis Fiesta With First Locally Grown Strains</a>

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German Cannabis: 20 Tons, 10M Grams - And That's Only 0.3% Of The Market, What's Missing?

Cannabis stocks reacted with mixed results on Thursday after Matt Gaetz <a href="https://www.benzinga.com/24/11/42119848/matt-gaetz-withdraws-name-from-ag-nomination-calls-sex-trafficking-controversy-a-distraction">withdrew his nomination</a> for U.S. Attorney General amid <a href="https://www.benzinga.com/news/legal/24/11/42078192/trumps-attorney-general-pick-matt-gaetz-resigned-from-congress-ethics-committee-to-decide-if-report-will-be-released">allegations</a> of sexual misconduct, drug use, lack of legal experience and more. Last week, President-elect Donald Trump <a href="https://www.benzinga.com/news/legal/24/11/41959036/trump-nominates-another-cannabis-supporter-to-cabinet-rep-matt-gaetz-for-attorney-general">nominated</a> Gaetz who is a long-time supporter of cannabis legalization. 
While Gaetz's exit may not be directly tied to the sector's performance, multi-state operators (MSOs) and cannabis ETFs recorded notable declines, reflecting ongoing investor jitters in a politically sensitive market.
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<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can&#8217;t afford to miss out if you're serious about the business.</li>
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<h3 class="wp-block-heading">MSOs Slides, Sector Faces Pressure</h3>
The AdvisorShares Pure US Cannabis ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSOS#NYSE">MSOS</a>), often viewed as a benchmark for MSOs, dropped by -4.31%, closing at $4.56. This decline highlights the continued uncertainty in the cannabis space, as investors reassess the implications of a reshuffling political landscape.
Curaleaf Holdings Inc. (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTCQX">CURLF</a>), one of the largest MSOs in the U.S., shed -4.10%, finishing the day at $1.99. Trulieve Cannabis Corp. (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTCQX">TCNNF</a>) was not far behind, falling -1.93% to $6.11. Meanwhile, Cresco Labs Inc. (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/CRLBF#OTCQX">CRLBF</a>) dropped -5.74%, closing at $1.15.While some MSOs struggled, Green Thumb Industries (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTCQX">GTBIF</a>) managed to stay in positive territory closing at $9.30.
<h3 class="wp-block-heading">Sundial Stands Out</h3>
Sundial Growers Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNDL#NASDAQ">SNDL</a>) defied the broader sector trends, climbing 1.79% to end the day at $1.995. Other gainers included Tilray Brands Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>), which rose 1.94% to $1.315, and Canopy Growth Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>), up 2.53% to $3.855.
<h3 class="wp-block-heading">Deep Declines&nbsp;</h3>
Thursday saw significant losses among smaller players, with Cansortium Inc. (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/CNTMF#OTCQX">CNTMF</a>) plunging -22.72%, closing at $0.0711. iAnthus Capital Holdings Inc. (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/ITHUF#OTCQX">ITHUF</a>) also struggled, dropping -11.43% to $0.00558.
Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/11/42122634/gop-bathroom-battle-cannabis-advocate-nancy-mace-will-stand-in-the-way-of-any-man-who-tries-to-get-into-womens-room">GOP Bathroom Battle: Cannabis Advocate Nancy Mace Will &#8216;Stand In The Way Of Any Man&#8217; Who Tries To Get Into Women&#8217;s Room</a>

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Cannabis Stocks Feel The Burn: Matt Gaetz Bows Out As Trump's Attorney General Nominee

Tilray Brands's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NYSE">TLRY</a>) short percent of float has fallen 4.63% since its last report. The company recently reported that it has 112.73 million shares sold short, which is 12.56% of all regular shares that are available for trading. Based on its trading volume, it would take traders 5.43 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Tilray Brands Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732023924_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Tilray Brands has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Tilray Brands's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Tilray Brands's peer group average for short interest as a percentage of float is 17.86%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

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How Is The Market Feeling About Tilray Brands?

Tilray Brands Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) faces a new shareholder lawsuit accusing the Canadian cannabis company of misleading voting practices for a second consecutive year. 
The legal complaint, filed on October 31, 2024 in the Delaware Court of Chancery, alleges that Tilray misled investors regarding the voting requirements to increase its authorized shares, <a href="https://www.investing.com/news/company-news/tilray-faces-shareholder-lawsuit-over-voting-standards-93CH-3707585">reported</a> Investing.com.
<h3 class="wp-block-heading">Disputed Voting Standards And Shareholder Allegations</h3>
According to the lawsuit, Tilray's proxy statements for the 2023 and 2024 annual meetings inaccurately presented the voting standards needed for approval. The plaintiff argues that the company required only a majority of votes cast, rather than a majority of all outstanding shares, to pass proposals that increased the number of authorized shares. This discrepancy, the complaint claims, invalidates the approval and subsequent issuances of new common stock.
The lawsuit contends that Tilray's board of directors breached their fiduciary duties by failing to provide accurate information.
The plaintiff seeks to block the company from holding a vote on the 2024 Authorized Shares Proposal at the upcoming annual meeting scheduled for November 21, 2024. Additionally, the lawsuit demands reimbursement of legal fees and related costs for the affected shareholders.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/11/41997646/tilray-joins-german-cannabis-fiesta-with-first-locally-grown-strains">Tilray Joins German Cannabis Fiesta With First Locally Grown Strains</a>
Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.
<h3 class="wp-block-heading">Tilray's Defense And Institutional Support</h3>
Tilray, however, firmly denies the allegations, stating that its voting practices comply with the 2023 amendments to Delaware's General Corporation Law. 
The company maintains that the lower threshold for stockholder approval aligns with legal standards for corporations listed on national exchanges. Tilray's management argues that the increase in authorized shares is necessary for enhancing financial flexibility and facilitating strategic acquisitions.
Institutional Shareholder Services (ISS) has endorsed Tilray's proposal, recommending shareholders vote in favor of the increase, citing no significant concerns over past share usage.
<ul>
<li>Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/10/41273594/tilray-reports-200m-q1-net-revenue-up-13-yoy-as-net-loss-improves">Tilray Reports $200M Q1 Net Revenue, Up 13% YoY As Net Loss Improves</a></li>
</ul>
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Shareholder Lawsuit Challenges Tilray's Voting Tactics For Authorized Share Increase

Tilray Medical, a division of Tilray Brands (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>), <a href="https://www.globenewswire.com/en/news-release/2024/11/14/2981031/0/en/Tilray-Medical-Launches-its-First-Commercial-Grown-in-Germany-Medical-Cannabis-Products-Under-its-Newly-Expanded-Cultivation-License.html">announced</a> the launch of its first commercial <a href="https://www.benzinga.com/topic/germany-cannabis">medical cannabis</a> products cultivated in <a href="https://www.benzinga.com/topic/germany-cannabis">Germany</a>. 
The debut comes from its Aphria RX facility, marking a milestone under the country's recently updated cultivation regulations, MedCanG. 
<h3 class="wp-block-heading">New Cultivation License Drives Local Production</h3>
Tilray was the first company to secure the new cannabis cultivation license under MedCanG in July 2024. 
This regulatory shift allows Aphria RX to grow and manufacture a variety of popular medical cannabis strains that were previously imported. 
The indoor-grown products are expected to offer consistent quality tailored to German patients&#8217; preferences:
"Our Made in Germany premium cannabis products represent a significant step forward in delivering high-quality medical cannabis to patients," said Denise Faltischek, Tilray's chief strategy officer. "This achievement strengthens our position as a leader in cultivation, production, and distribution, while demonstrating our commitment to the German medical cannabis community."
Read Also: <a href="https://www.benzinga.com/government/regulations/24/11/41885393/germanys-govt-coalition-crisis-is-cannabis-reform-at-risk">Germany&#8217;s Govt. Coalition Crisis, Is Cannabis Reform At Risk?</a>
Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.
<h3 class="wp-block-heading">Medical Cannabis Market Shows Strong Growth</h3>
Germany's medical cannabis market is rapidly expanding, driven by increased patient adoption that came after cannabis was re-listed as a<a href="https://www.benzinga.com/government/regulations/24/11/41885393/germanys-govt-coalition-crisis-is-cannabis-reform-at-risk"> non narcotic</a> substance. 
Companies like <a href="https://www.benzinga.com/markets/cannabis/24/09/40783859/european-cannabis-producer-cantourage-reports-62-revenue-increase-projects-positive-ebitda">Cantourage</a> Group Sell, <a href="https://www.benzinga.com/markets/cannabis/24/06/39277081/german-company-launches-largest-digital-platform-for-medical-cannabis-in-all-europe">Bloomwell</a> and <a href="https://www.benzinga.com/government/regulations/24/11/41884236/exclusive-persistence-pays-off-for-only-cannabis-distributor-in-bavarias-developing-market">Drapalin</a> have reported record revenue, with projections suggesting continued robust growth. 
The shift toward local cultivation by companies like Tilray reflects the broader industry trend of securing supply chains, since most cannabis in Germany is <a href="https://www.benzinga.com/markets/cannabis/24/08/40369868/medical-marijuana-imports-in-germany-increase-51-yoy-following-reform-cannabis-clubs-still-face-">imported</a>, mainly from Canada. 
Medical cannabis, however, continues to gain traction, with sales projected to reach <a href="https://www.benzinga.com/markets/cannabis/24/09/40783859/european-cannabis-producer-cantourage-reports-62-revenue-increase-projects-positive-ebitda">$1.09 billion</a> by 2028. Recent regulatory changes have streamlined access, treating medical cannabis similarly to over-the-counter medications like ibuprofen. 
While Germany has taken steps toward partial cannabis legalization, full-scale recreational sales <a href="https://www.benzinga.com/government/regulations/24/11/41885393/germanys-govt-coalition-crisis-is-cannabis-reform-at-risk">remain on hold</a>. 
<ul>
<li>Read Next: <a href="https://www.benzinga.com/government/regulations/24/11/41884236/exclusive-persistence-pays-off-for-only-cannabis-distributor-in-bavarias-developing-market">EXCLUSIVE: Persistence Pays Off For Only Cannabis Distributor In Bavaria&#8217;s Developing Market</a></li>
</ul>
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Tilray Joins German Cannabis Fiesta With First Locally Grown Strains

Charlotte&#8217;s Web Holdings, Inc. (TSX:<a class="ticker" href="https://www.benzinga.com/stock/CWEB#TSX">CWEB</a>) (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/CWBHF#OTCQX">CWBHF</a>) a producer of hemp-derived CBD and other botanical wellness products, reported its financial results on Thursday for the third quarter ended Sept. 30, 2024.  
&#8220;Our return to quarter-over-quarter growth in 2024 signals that our strategic direction is paying off,&#8221; said Bill Morachnick, CEO of Charlotte&#8217;s Web. &#8220;We&#8217;ve seen positive impacts from our e-commerce platform upgrades, recent product launches, and additional retailers, highlighted by our new partnership with Walmart that brings our CBD topicals to another 827 stores.&#8221;
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/08/40525826/exclusive-new-wana-brands-marketplace-brings-together-martha-stewart-cbd-charlottes-web-cann-pro">EXCLUSIVE: New Wana Brands Marketplace Brings Together Martha Stewart CBD, Charlotte&#8217;s Web, Cann Products</a>
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<h3 class="wp-block-heading">Q3 Financial Highlights</h3>
<ul>
<li>Consolidated net revenue totaled $12.6 million, down from $14.3 million in the third quarter, reflecting challenges in the CBD industry such as ambiguity around regulatory advancements and consumer spending trends.</li>
<li>Gross profit was $6.7 million &#8211; accounting for 53% of revenue &#8211; compared to $7.9 million in the prior year's quarter, due to lower revenue and price reductions on tinctures.</li>
<li>Net loss was $5.8 million, representing an improvement from the net loss of $15.2 million in the prior year's quarter.</li>
<li>Adjusted EBITDA came in negative at $3.9 million, improved from a $6 million adjusted EBITDA loss in the third quarter of 2023.</li>
<li>Selling, general and administrative expenses were $12.7 million, representing a 36.2% decrease from $19.9 million in the third quarter of 2023, due to cost-cutting measures and streamlining operations.</li>
<li>Net cash used in operations was $7.6 million, with $0.3 million in capital expenditures for manufacturing upgrades.</li>
<li>On Sept. 30, 2024, the company&#8217;s cash and working capital were $24.6 million and $33.5 million, respectively, compared to $47.8 million and $54.5 million, respectively, at Dec. 31, 2023.&nbsp;</li>
</ul>
<h3 class="wp-block-heading">Product Innovations And Expansions</h3>
The company recently launched:
<ul>
<li>Soft Gel Capsules which are full-spectrum CBD capsules with positive consumer feedback.</li>
<li>Functional Mushroom Gummies &#8211; a new line of gummies with three formulations following wellness trends.</li>
</ul>
In terms of the Walmart Partnership, the company expanded its CBD topicals to 827 Walmart (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) stores.
Charlotte's Web launched CBD gummies in Canada, through a <a href="https://www.benzinga.com/markets/cannabis/24/10/41213325/two-cannabis-power-houses-team-up-tilray-brings-cbd-gummies-from-us-medical-marijuana-pioneer-to">partnership</a> with Tilray Brands, Inc. &nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>), leveraging local production and distribution.
<h3 class="wp-block-heading">Outlook</h3>
Despite a challenging regulatory environment, the company is positioning itself for long-term growth with new product categories and international expansions.
<h3 class="wp-block-heading">CWBHF Price Action</h3>
Charlotte&#8217;s Web's shares traded 0.72% higher at 14 cents per share after the market close on Wednesday afternoon.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cannabis/24/08/40418137/industrial-hemps-14b-projected-growth-an-investment-opportunity-too-good-to-miss">Industrial Hemp&#8217;s $14B Projected Growth: An Investment Opportunity Too Good To Miss</a></li>
</ul>

Earnings

CWBHF

CWEB

TSX:CWEB

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

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

General

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

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

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

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

WIIM

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

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

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

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

Analyst Color

Commodities

Global

Analyst Ratings

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

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

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

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

Sector ETFs

CXXIF

JUSHI HLDGS INC CL B by Jushi Holdings Inc.

JUSHF

MJNA

TCNFF

VEXTF

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

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

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

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

AAWH

ALEAFIA HEALTH INC ORD by Aleafia Health Inc.

ALEAF

AUSAF

AVTBF

AYRWF

BBRRF

BHHKF

BLOZF

BMMJ

CANN

CBDY

CBMJ

CANNABIS WHEATON INCOME by Cannabis Wheaton Income Corp.

CBWTF

CHOOF

CLSH

CLVR

CNBS

CNBX

CNGGF

CNPOF

CNVCF

CPHRF

CURE PHARMA HLDG CORP by CURE Pharmaceutical Holding Corp.

CURR

CVHIF

CVSI

CANNIBIS GROWTH OPTY CORP by Cannabis Growth Opportunity Corp.

CWWBF

ELLXF

EMOR

ETST

EVIO

FFLWF

FFNTF

FUTURE FARM TECHNOLOGIES by Future Farm Technologies Inc.

FFRMF

FLGC

FLOOF

FLWPF

FINCANNA CAPITAL CORP by Fincanna Capital Corp.

FNNZF

FUAPF

GABRIELLAS KITCHEN INC by Gabriella's Kitchen Inc.

GABLF

GBHPF

GENE

GHBWF

GLASF

GNLN

GRAMF

GRNH

GREEN SPIRIT INDUSTRIES by Green Spirit Industries Inc.

GSRX

HBOSF

HEMP

HERTF

HHPHF

HMLSF

IIPR

INCR

INLB

ISODIOL INTERNATIONAL ORD by Isodiol International Inc.

ISOLF

IVITF

JWCAF

KALY

KAYS

KHIRON LIFE SCIENCES CORP by Khiron Life Sciences Corp.

KHRNF

LEAFBUYER TECHNOLOGIES by Leafbuyer Technologies, Inc.

LBUY

LFCOF

LIFD

LMLLF

LNLHF

LOVFF

LRSNF

LVRLF

LXLLF

MGCLF

MGWFF

MJNE

MJUS

MMNFF

MPXOF

MRMD

NDVAF

NOBDF

NWVCF

OILFF

PHOT

PKPH

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

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

HITI

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

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

Movers

Cannabis Stocks Sink Amid Broader Market Decline And Election Jitters

Tilray (TLRY) Medical, a division of Tilray Brands, announced the launch of its first commercial German grown medical cannabis flowers from its Aph...

Tilray Medical launches first commercial German grown medical cannabis products

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