Industry Overview - The cannabis sector has experienced a turnaround in the second half of 2025, with industry leaders like Tilray Brands seeing nearly a 200% increase in share prices over the past six months, indicating potential for continued momentum into 2026 [1] - The cannabis industry has faced dismal performance in recent years, but recent regulatory developments in the U.S. have sparked renewed investor interest [2] Regulatory Changes - President Donald Trump signed an executive order to reclassify marijuana, moving it from Schedule 1 to Schedule 3, which has significant implications for the cannabis industry [3][4] - Schedule 1 drugs are considered the most dangerous with no accepted medical use, while Schedule 3 drugs have lower potential for abuse and some accepted medical uses [3] Implications of Reclassification - The reclassification will facilitate research into potential medical uses for cannabis, improve access to banking services for pot growers, and alter tax implications for cannabis companies [4][5] - Companies in the cannabis sector will be able to deduct normal business expenses from their income, potentially leading to higher operating profits and margins [5] Impact on Tilray - Despite the positive regulatory changes, Tilray's current business model does not generate revenue from marijuana sales in the U.S., as it primarily offers hemp-based products, which are not classified as controlled substances [8] - The recent surge in Tilray's shares is driven by expectations surrounding cannabis reclassification, which has now materialized, but significant challenges remain for the company moving forward [7]

President Donald Trump signed an executive order on December 18, 2025 that expedites the reclassification of marijuana, meaning it would be considered a less dangerous drug. Reclassification would make it easier to conduct research on medical marijuana and for Medicare and Medicaid recipients to access cannabidiol (CBD) products. It could also spur investment in an industry that’s seen its share of ups and downs. Must Read This comes at a time when cannabis use among boomers is, well, booming. The num ...

特朗普还承诺将很快公布一项住房改革计划。本周五，特朗普政府还宣布，包括诺华、默沙东在内的九 家医药巨头达成药价折扣协议。这些密集的政策发布被视为试图扭转不利舆论、为2026年中期选举造势 的努力。 住房、能源价格和生活成本问题预计将成为2026年国会中期选举的核心议题。如果共和党失去对国会一 院或两院的控制权，民主党将获得更大权力调查白宫，甚至可能对特朗普进行第三次弹劾。 特朗普将这笔支出归功于关税带来的额外收入，尽管他没有直接说明资金来源。上述官员透露，根据国 会今年夏天通过的特朗普政策议程，国防部得到拨款29亿美元，用于补充基本住房补贴。 联邦雇员获得史无前例的五天圣诞假期 美国总统特朗普在约24小时内接连推出多项惠民举措。他宣布向现役军人发放1776美元的"战士红利"， 史无前例地给联邦政府雇员额外增加两天圣诞假期，并签署了放松大麻监管、重启登月计划这些影响广 泛的行政命令。 这些举措正值特朗普面临支持率下滑和经济不确定性的双重压力。益普索（Ipsos）的民调显示，他的 支持率已跌至39%。共和党战略家Annalyse Keller对媒体表示，共和党意识到在生活成本和中期选举问 题上面临挑战。 向军人发 ...

Tilray Brands (NASDAQ:TLRY), a global medical cannabis producer, closed Thursday at $12.34, down 4.2%. Tilray Brands IPO'd in 2018 and has fallen 94% since going public. Trading volume reached 66.7 million shares, coming in 514% above its three-month average of 10.9 million shares. How the markets moved today Thursday’s session saw cannabis names reacting to a Trump executive order reclassifying marijuana, and investors are watching how the U.S. cannabis industry will evolve. The S&P 500 (SNPINDEX:^GSPC) ...

周四美国总统特朗普将大麻从最严格的管制药物类别中降级，放宽限制但并未完全合法化。 根据该行政令，大麻将从毒品的一类管制药物降至三类，与氯胺酮同级。但美国高级政府官员表示，此举不会改变执法部门对大 麻相关逮捕的处理方式。特朗普表示： 大麻命令并非法律，此命令在任何形式上都不会将大麻合法化。 同时，该命令还授权启动一项试点计划，允许美国联邦医保为癌症等患者的CBD（大麻二酚，一种非精神活性大麻化合物）产品 提供报销。这一医保计划预计将于明年启动。 特朗普的决定在共和党内部引发分歧。18名共和党参议员和26名众议院共和党议员近期致信总统反对重新分类，保守派非营利组 织CatholicVote也对此表示反对。 大麻股走势普遍下挫，ETF CNBS跌近16%、MSOS跌15.77%、MJ跌超10%，VFF的涨幅则收窄至3.71%。尽管遭到抛售，但相 关股票在行政令签署前仍录得大幅上涨，分析认为这或是投资者"买预期，卖事实"，了结获利资金离场。 虽然大麻重新分类将占据头条，但他革命性的医保试点项目将为数百万患有慢性疼痛和衰弱性疾病的老年人带来即时 的、改变生活的缓解和大麻素疗法的获取途径。 政策调整承认大麻医疗价值 此次 ...

Core Viewpoint - The president has signed an executive order to reclassify marijuana from a Schedule I drug to a Schedule III drug, indicating a shift towards less regulation and acknowledging the therapeutic potential of marijuana, particularly for patients with serious illnesses like cancer [1][2]. Industry Impact - The reclassification of marijuana is expected to have significant implications for the cannabis industry, potentially leading to increased investment and market activity as stocks have already begun to move positively in anticipation of this change [2]. Market Reaction - Following the announcement of the reclassification, cannabis stocks have been on the rise for about a week, indicating strong market interest and investor confidence in the sector's future prospects [2].

Cannabis stocks rallied Wednesday morning following fresh reports that President Donald Trump is poised to sign an executive order rescheduling marijuana from Schedule I to Schedule III. CGC stock is climbing. See the chart and price action here. The news sent a wave of optimism through the cannabis sector as investors anticipated long-awaited financial liberation associated with Schedule III: the removal of IRS Section 280E. Read Next: Elon Musk Prepares SpaceX IPO Valued At More Than RTX, Boeing, Lockheed ...

报道称特朗普预计最快将于下周一签署行政令，将大麻从Schedule I重新分类为管制较宽松的Schedule III药物，预计将于明年初实施。消息传出后， 大麻股周五交易时段大幅飙升。大麻生产商Tilray Brands飙涨44%，Canopy Growth暴涨53%。 12月12日，据媒体援引知情人士透露， 美国总统特朗普最快将于下周一签署行政令，将大麻重新分类为管制较宽松的药物。 该政策将允许大麻企业适用不同的税收规则，并鼓励投资流入该行业。消息传出后，大麻股周五交易时段大幅飙升。 大麻生产商Tilray Brands飙涨44%，Canopy Growth暴涨53%。Amplify Seymour Cannabis ETF飙升超54%，创下该基金有史以来最佳单日表现。 监管框架将发生重大调整 周四据媒体首次报道，特朗普预计将通过行政令指示美国联邦机构将 大麻从Schedule I重新分类为管制较宽松的Schedule III药物。 我比以往任何时候都更加乐观。 报道称，这一潜在的重新分类将使大麻从毒品所在的最严格管制类别，降至类固醇和含可待因泰诺等危险性较低药物的级别，预计将于明年初实施。 来源：华尔街见 ...

Core Viewpoint - The cannabis industry, particularly Tilray Brands, is characterized by significant volatility and risks, with the stock experiencing a dramatic decline despite earlier gains [1][2]. Company Performance - Tilray's stock has decreased over 91% in the past five years and is currently down 66% from its 52-week high [2]. - The stock was once up as much as 58% earlier this year but has since fallen back to a decline of over 40% [4][5]. - The company's market capitalization stands at $8 billion, with a current stock price of $7.06 [4]. Market Expectations - There were high hopes for marijuana rescheduling in the U.S., which would have eased research and tax burdens, but these hopes have not materialized [2][3]. - Despite being a leading cannabis producer in Canada, Tilray has not made significant progress towards its ambitious revenue target of $4 billion by 2024, with trailing revenue at only $831 million [5][6]. Financial Health - The company has been reducing its cash burn but continues to face operating losses and lacks organic growth [7][8]. - Management's forecasts for revenue growth in international markets remain unfulfilled, leading to investor skepticism [6][7]. Speculative Nature - Tilray is considered a highly speculative stock, with potential for sudden surges in value based on positive industry news, but such rallies are often short-lived [9][10]. - The overall sentiment suggests that investors should maintain caution due to the stock's volatility and unpredictability [10].

Industry Overview - The U.S. administration is considering reclassifying marijuana from Schedule I to Schedule III under the Controlled Substances Act, which could significantly impact the marijuana industry by allowing businesses to access standard banking and reducing their effective tax rates [2] - Currently, marijuana's Schedule I classification limits business deductions under Section 280E of the federal tax code, which could change with reclassification, potentially increasing profitability and attracting institutional investors [2] Analyst Insights - TD Cowen analyst Jaret Seiberg suggests that former President Trump may revive efforts to move cannabis to Schedule III, allowing for government regulation [3] Best Marijuana Stocks - **Aurora Cannabis Inc. (NASDAQ: ACB)**: Analysts project an upside potential of 4.55%. The company launched the Physician Experience Platform (PEP) to provide healthcare professionals with access to clinical insights on medicinal cannabis treatments [8] - **Turning Point Brands, Inc. (NYSE: TPB)**: Analysts project an upside potential of 5.47%. The company launched Stoker's Fine Cut Wintergreen in a compact can, responding to consumer demand and enhancing its moist smokeless tobacco line [9][10] - **The Scotts Miracle-Gro Company (NYSE: SMG)**: Analysts project an upside potential of 12.90%. The company made significant strides in sustainability, including reducing water usage for greenhouse irrigation by over 50% and achieving 100% recyclable packaging for its products [11][12]