Core Viewpoint - Four cannabis stocks are showing significant technical momentum despite new regulatory challenges from Washington, particularly a provision in a government funding bill that could re-criminalize many hemp-derived THC products [1][2]. Group 1: Stock Performance - The stocks demonstrating gains include Tilray Brands Inc. (NASDAQ:TLRY), Cronos Group Inc. (NASDAQ:CRON), Organigram Global Inc. (NASDAQ:OGI), and SNDL Inc. (NASDAQ:SNDL) [2]. - Benzinga Edge's Stock Rankings indicate that all four companies exhibit strong positive momentum, particularly over the last six months [3]. - The six-month returns for the stocks are as follows: TLRY at 156.82%, CRON at 20.39%, OGI at 26.23%, and SNDL at 32.81% [4]. Group 2: Individual Stock Analysis - TLRY shows a weaker price trend in the short term but strong trends in medium and long terms, with a pre-market decline of 1.77% [6]. - CRON maintains a weaker short-term price trend but strong medium and long-term trends, with a pre-market increase of 3.63% [6]. - OGI has a weaker price trend in the short and medium terms but a strong long-term trend, with a pre-market decline of 1.95% [6]. - SNDL has a moderate growth ranking despite weaker trends across all timeframes, with a pre-market increase of 2.35% [6]. Group 3: Regulatory Environment - A new legislative provision in the funding package re-criminalizes intoxicating hemp products, which could significantly impact the market [7]. - Senator Rand Paul criticized the provision, stating it could eliminate nearly 100% of legal hemp products overnight, adversely affecting farmers [7]. - The regulatory changes may benefit multi-state operators by reducing "gray-market" competition but are expected to negatively impact Canadian companies like Tilray, which viewed the hemp-derived product segment as a key entry point into the U.S. market [8].

Core Viewpoint - Four cannabis stocks are showing significant technical momentum despite new regulatory challenges from Washington, particularly a provision in a government funding bill that could re-criminalize many hemp-derived THC products [1][2]. Group 1: Stock Performance - The stocks demonstrating gains include Tilray Brands Inc. (NASDAQ:TLRY), Cronos Group Inc. (NASDAQ:CRON), Organigram Global Inc. (NASDAQ:OGI), and SNDL Inc. (NASDAQ:SNDL) [2]. - Benzinga Edge's Stock Rankings indicate that all four companies exhibit strong positive momentum, particularly over the last six months [3]. - The six-month returns for the stocks are as follows: TLRY at 156.82%, CRON at 20.39%, OGI at 26.23%, and SNDL at 32.81% [4]. Group 2: Individual Stock Analysis - TLRY shows a weaker price trend in the short term but strong trends in medium and long terms, with a pre-market decline of 1.77% [6]. - CRON maintains a weaker short-term price trend but strong medium and long-term trends, with a pre-market increase of 3.63% [6]. - OGI has a weaker price trend in the short and medium terms but a strong long-term trend, with a pre-market decline of 1.95% [6]. - SNDL has a weaker price trend across all timeframes but a moderate growth ranking, with a pre-market increase of 2.35% [6]. Group 3: Regulatory Environment - A new legislative provision in the funding package re-criminalizes intoxicating hemp products, which could significantly impact the market [7]. - Senator Rand Paul criticized the provision, stating it could eliminate nearly 100% of legal hemp products overnight, adversely affecting farmers [7]. - The regulatory changes may benefit multi-state operators by reducing "gray-market" competition but are expected to negatively impact Canadian companies like Tilray, which had aimed to enter the U.S. market through hemp-derived products [8].

Core Points - Pub Beer, a brand under Tilray Brands, Inc., has launched a collaboration with Big Buck Hunter for a campaign called Cheap Fun Hunting SZN, featuring limited-edition merchandise and a sweepstakes for a custom arcade machine valued at over $10,000 [1][4] - The campaign includes a special "Hunter Orange" can design, available while supplies last, aimed at celebrating the hunting season [2] - The sweepstakes is open until November 30, 2025, for legal residents aged 21 and older in select states [1] Company Overview - Tilray Brands, Inc. is a global lifestyle and consumer packaged goods company with operations across multiple regions, including North America and Europe, focusing on cannabis, beverages, wellness, and entertainment [5] - The company aims to be a leading premium lifestyle brand with a diverse portfolio of over 40 brands in more than 20 countries, offering products that inspire joy and create memorable experiences [5]

With Congress passing the funding bill on Wednesday, ending the record-long government shutdown, a controversial provision has made its way into the bill’s provisions, one that is sparking alarm across the hemp and cannabis industry. Move To Re-Criminalize Hemp-Derived ProductsA last-minute provision in the funding package that the Senate passed on Monday comes with a surprise catch: the criminalization of several THC-infused and hemp-derived products across the country, which were legalized as part of the ...

Core Viewpoint - Tilray Brands advocates for sensible regulations on hemp-derived THC products, emphasizing the need for a taxed pathway that ensures consumer safety and promotes economic growth [1][3][4]. Industry Position - Tilray Brands aligns with a coalition of major operators in the alcohol and beverage sectors to push for responsible regulations, arguing that prohibition leads to unregulated markets and unsafe products [3][4]. - The hemp-derived THC beverage market is valued at $1 billion in the U.S., supported by small business investments and job creation [5]. Regulatory Framework - The company supports a federal baseline framework for hemp-derived THC product regulation, proposing a cap of 10mg of delta-9 THC per serving to ensure responsible consumption and public safety [4][6]. - Tilray Brands opposes any bans on hemp-derived THC products, stating that such measures would drive products underground rather than eliminate them [4]. Consumer Demand - A McLaughlin & Associates poll indicates that over 70% of Americans favor the legality and availability of hemp products, highlighting strong public demand for fair regulation [5]. Commitment to Innovation - Although hemp-derived THC products currently do not significantly contribute to Tilray's revenue, the company is dedicated to collaborating with lawmakers and enhancing its hemp-wellness offerings [6].

Core Insights - Tilray Medical is expanding its global medical cannabis operations with significant international developments, including a joint venture in Panama and new product launches in Germany and Australia [1][2][3] Group 1: International Expansion - Tilray Medical established Solana Life Group in Panama, receiving a medical cannabis license to cultivate, manufacture, and distribute locally, aiming to improve patient access [1] - The company expanded its Tilray Craft portfolio in Germany by launching five new cannabis flower products at its EU GMP certified facility in Neumünster, reinforcing its leadership in medical cannabis [2] - A strategic partnership with Italy's Molteni aims to enhance the availability of Tilray Medical cannabis extracts for patients in Italy [3] Group 2: Product Innovation - Tilray introduced its first medical cannabis edible, Good Supply Pastilles, in Australia, highlighting its commitment to innovative and patient-focused treatment solutions [3] Group 3: Peer Updates - Village Farms International reported a 690% year-over-year increase in international medical export sales, with commercial shipments to the Netherlands contributing $2.4 million to revenues [4] - Curaleaf Holdings is expanding its international business, recently obtaining a license to operate in Turkey and launching products in Australia, while also achieving EU-MDR certification for a cannabis inhalation device [5] Group 4: Financial Performance - Tilray Brands' shares increased by 34.8% over the past three months, significantly outperforming the industry, which saw a 3.2% decline [6] - The company currently trades at a forward 12-month Price-to-Sales (P/S) ratio of 2.94X, below the industry average of 3.16X [8]

Core Insights - Tilray Brands (TLRY) shares have surged 94.5% over the past three months, significantly outperforming the industry which saw a 2.5% decline [1][9] - The stock's rise is attributed to optimism regarding potential federal regulations for hemp-derived products and indications of relaxed marijuana restrictions by President Donald Trump [2][9] - The company reported record first-quarter net revenues of $210 million, contributing to a strengthened balance sheet [2][9] Financial Performance - In the first quarter of fiscal 2026, Tilray Brands achieved a net income of $1.5 million, a significant turnaround from a net loss of $34.7 million in the same period last year [7][9] - Adjusted net income improved to $3.9 million from an adjusted net loss of $6 million year-over-year, driven by lower selling, general and administrative expenses and reduced amortization [7][9] Global Expansion - Tilray Medical is expanding its global footprint, establishing Solana Life Group in Panama to cultivate and distribute medical cannabis [4][9] - The company launched five new cannabis flower products in Germany and entered a strategic partnership with Italy's Molteni to enhance the availability of medical cannabis extracts [5][9] - In Australia, Tilray introduced its first medical cannabis edible, Good Supply Pastilles, emphasizing innovation in patient-focused treatment solutions [6][9] Competitive Landscape - Tilray Brands operates in a competitive market, facing challenges from peers like Village Farms International and Curaleaf Holdings, both pursuing international expansion and cost optimization [10] - As Tilray gains traction in international markets, competitive responses from these companies may intensify [10] Market Estimates and Challenges - The Zacks Consensus Estimate for fiscal 2026 sales indicates a year-over-year improvement of 6.8%, while loss per share is expected to deteriorate by 600% year-over-year [11] - The company faces challenges from price compression and regulatory issues in Canada, including high excise taxes and limited retail channels for cannabis beverages [12][14] - In Europe, growth is hindered by permit delays in Portugal and quota restrictions in Germany, along with currency volatility impacting performance [13][14] Valuation - Tilray shares are currently trading at a forward one-year price-to-sales (P/S) ratio of 1.52X, which is a discount compared to the industry average of 3.16X [15]

Core Insights - The Canadian cannabis market is evolving with global demand increasing and U.S. legalization being a significant topic of interest [1][13] - Major producers are focusing on profitability, cost reduction, and high-margin opportunities like medical exports and branded products [1][13] Company Summaries Tilray Brands, Inc. (TLRY) - Tilray is expanding its U.S. presence through hemp-derived THC beverages and wellness products, focusing on consumer engagement and product innovation [3][5] - For fiscal 2025, Tilray's total net revenue increased by approximately 4% year over year to over $820 million, with gross profit in its cannabis division rising to nearly $100 million and gross margin expanding from 33% to 40% [5][12] - Despite facing a net loss due to impairment charges, management is confident in its restructuring plan and international expansion strategy [5][12] Cronos Group Inc. (CRON) - Cronos is focused on innovation and cannabinoid research, preparing for potential federal legalization in the U.S. while serving international medical and wellness markets [7][9] - In 2024, Cronos's annual net revenue rose by over 30%, with quarterly results in early 2025 showing continued progress and net income turning positive for the first time in years [9][12] - The company maintains a strong balance sheet with substantial cash reserves and minimal debt, positioning itself for sustained growth [9][12] Aurora Cannabis Inc. (ACB) - Aurora serves both medical and recreational markets across more than 25 countries, focusing on medical exports and high-quality production [10][12] - The company reported over 35% year-over-year revenue growth in 2025, with medical cannabis sales rising over 50% [12] - Aurora's strategic pivot towards the higher-margin medical market has improved profitability and stabilized cash flow, positioning it well for future growth [12][13] Industry Outlook - The Canadian cannabis sector is navigating a critical transformation period, with companies like Tilray, Cronos, and Aurora leading the charge [13][14] - Investors are encouraged to monitor technical patterns and apply strict risk management to capitalize on potential growth opportunities in November 2025 [14]

Core Insights - Tilray Medical has announced significant updates to its pricing programs in Canada, aimed at enhancing affordability and accessibility for medical cannabis patients [1][5] Group 1: Pricing Program Updates - The Compassionate Pricing program has increased the annual income eligibility threshold from $32,500 CAD to $65,000 CAD, allowing more patients to qualify for support [2] - Patients enrolled in the Compassionate Pricing program will continue to benefit from promotional campaigns and additional savings opportunities [2] - The 'Seniors Pricing' program has been strengthened to better support elderly patients, while dedicated programs for first responders and pediatric patients remain in place [3] Group 2: Specialized Support Programs - Tilray Medical continues to provide specialized support through the 'Warrior Wellness' program for Veterans and the 'First Responders Appreciation' program, ensuring personalized care and streamlined access to medical cannabis [4] - The company emphasizes its commitment to health equity, empowering various groups, including seniors, veterans, and families, to access medical cannabis affordably [5] Group 3: Company Overview - Tilray Medical is a leading supplier of medical cannabis, with a global portfolio of brands and products designed to meet patient needs [6] - The company has evolved from being one of the first licensed producers of medical cannabis in Canada to establishing GMP-certified production facilities in Portugal and Germany [6]

Core Viewpoint - Tilray Brands has faced challenges in increasing its stock price and attracting growth investors, primarily being perceived as a cannabis company despite diversifying into alcohol [1] Group 1: Financial Position and Digital Assets - As of the end of August, Tilray Brands held 9.16 units of Bitcoin, with digital assets totaling just under $1 million, a significant increase from zero three months prior [3] - The management indicated plans to consider holding other cryptocurrencies like Ethereum and Solana, and to accept Bitcoin on its websites, recognizing the cryptocurrency holdings of its users [4] Group 2: Investment Strategy - Investing in Bitcoin could be beneficial for Tilray Brands if the company maintains sufficient cash flow for operations and growth, allowing for potential investment in crypto with remaining funds [5] - However, the volatility of Bitcoin poses risks, as significant declines in value could impact the company's growth strategy if funds are needed for operational purposes [6] Group 3: Current Challenges - Tilray Brands' current position in crypto is relatively small compared to larger holders, and the company continues to experience cash burn, complicating the balance between crypto investments and growth strategy [7]