Core Viewpoint - Tilray Brands has shown some improvement in its financial performance, with a significant increase in international cannabis sales and a reduction in operating losses, but overall growth remains inconsistent and the company continues to face challenges in the cannabis market [1][2][4]. Financial Performance - The company reported a record revenue of $217.5 million for the second quarter of fiscal 2026, marking a 3% increase year over year [2]. - International medical cannabis sales surged by 36%, while beverage sales declined by 21% to $50.1 million [3]. - Operating loss was reduced to $22.3 million from $42.2 million a year ago, attributed to a decline in restructuring costs and amortization expenses [4]. Market Context - The cannabis industry remains volatile, with the potential for short-term gains driven by market excitement, but long-term investment prospects are uncertain [9][10]. - Recent regulatory changes, such as President Trump's executive order to reschedule marijuana, may facilitate research and reduce tax burdens, but do not significantly enhance growth prospects for companies like Tilray [7][8]. Growth Prospects - Despite some positive indicators, Tilray's growth has been inconsistent, often reliant on acquisitions for short-term boosts rather than sustainable organic growth [6]. - The lack of consistent growth and ongoing uncertainty in the cannabis market make Tilray a risky investment, appealing primarily to speculative investors [9][11].

Core Viewpoint - Pot Inc. is lobbying the Trump administration, arguing that Wall Street is obstructing the implementation of the president's executive order that classifies marijuana as a medical drug [1][6]. Group 1: Executive Order and Banking Issues - The Trump executive order reclassifies marijuana from a Schedule 1 drug to a Schedule 3 drug, similar to Tylenol with codeine, but does not grant banks the authority to provide services to the marijuana industry [2][4]. - Major banks, including JPMorgan, Bank of America, and Citigroup, have expressed that they cannot support the marijuana industry until it is formally classified as a Schedule III drug and the law changes [4][5]. - The U.S. Attorney General Pam Bondi has yet to finalize the executive order, which is necessary for full implementation [4]. Group 2: Market Potential and Advocacy - The recreational marijuana market, which includes products like joints and gummies, is not addressed in the executive order, leading to concerns from bankers about their ability to support this segment [3][4]. - Marc Cohodes, a former hedge fund manager, argues that banks are misinterpreting the executive order and emphasizes the need for banking services in the medical marijuana sector, which is projected to be a $35 billion market [10][14]. - Pot Inc. is a $60 billion industry, and advocates believe that the reclassification will lead to significant growth opportunities for dispensaries and related businesses [14][15]. Group 3: Exchange Listings and Regulatory Challenges - Current policies of major U.S. stock exchanges, such as NYSE and Nasdaq, prevent the listing of U.S. marijuana companies, although Canadian companies are listed due to their foreign domicile [5][7]. - The inability to access banking services poses significant hurdles for marijuana companies in their expansion plans, as banking is heavily regulated at the federal level [15].

Core Perspective - The recent executive order signed by President Trump reclassifies marijuana to a "Schedule III" drug, significantly changing its legal status and implications for the industry [2][5]. Industry Implications - The reclassification allows the $60 billion marijuana industry in the US to access banking services, which were previously restricted due to its "Schedule I" status [6][9]. - Wall Street is expected to become more involved in the marijuana sector, providing easier financing options for companies that handle marijuana, moving away from reliance on alternative funding methods [7][10]. Regulatory and Economic Benefits - A Schedule III classification enables safer regulation of marijuana, potentially reducing income for drug cartels and increasing tax revenues as the industry expands [11]. - The medical community may benefit from increased marijuana use as an alternative to opioids, which are more dangerous and addictive [11]. Political Context - The move is seen as politically advantageous for Trump, appealing to a demographic of single-issue voters who support marijuana legalization [13][14]. - Public perception of marijuana has shifted, with many Americans viewing it as less dangerous than alcohol, aligning with the president's decision [14].

Regulatory Landscape & Policy - The executive order directs the Attorney General to expedite the process for marijuana reclassification from schedule one to schedule three, but it doesn't enact any new changes [13] - The reclassification process started in the last administration as a political issue [14] - The executive order does not legalize banking for the marijuana industry, which caused pot stocks to fall [14] - The reclassification will allow for tax breaks for the marijuana industry, which could increase advertising and promotion [15][16] Health & Societal Concerns - Today's marijuana is 10 to 30 times stronger than it once was, with some cases reaching 99% THC [4] - Increased THC levels are linked to psychosis, violence, reduction in IQ, heart failure, diabetes, and stroke [5] - Medical associations worldwide agree that marijuana consumption is not beneficial and is causing addiction [7] - 30% of medical marijuana users are addicted to marijuana [10] - Concerns exist regarding the impact of marijuana legalization on the workforce, including pilots, doctors, and bus drivers [10] Market & Investment - Investors were disappointed that the executive order didn't legalize banking, leading to a drop in pot stocks [14] - Some marijuana stocks increased due to potential tax breaks, but not as much as anticipated [15] - There is no momentum in Congress for federal legalization [26] - Some states are considering repealing marijuana sales legalization [12][26]

President Trump has signed an executive order to reclassify marijuana from a schedule one to a schedule three drug. While not making it fully legal, it would ease federal restrictions. Joining us right now with what this means for the marijuana industry and personal consumption is Kevin Sabbat.He is the CEO of Smart Approaches to Marijuana, a former White House Drug Policy Advisor, and he's the author of One Nation Under the Influence. Kevin, first of all, thank you uh for being here. It's been a while sinc ...

Industry Overview - The marijuana industry is currently experiencing volatility, with potential changes in legislation under the Trump administration that may lead to the reclassification of marijuana for therapeutic use [2][3] - The cannabis sector is described as "the wild west," characterized by a lack of standardization and a diverse range of products from various suppliers, making it challenging for companies to achieve steady revenue growth [5][6] Company Insights - Company Tillray operates in the marijuana space, including CBD oils and beverages, and is noted as the fourth largest craft brew company in the U.S. [3] - Despite the potential for short-term opportunities due to legislative changes, Tillray faces significant challenges in standardizing its products and maintaining profitability [5][6] - Tillray's sales were approximately $830 million last year, with growth in the mid-single digits, but the company reported a loss of around $2 billion, which continues to pressure its equity [8] Market Dynamics - The cannabis ETF has seen a decline of over 85% from its peak, indicating a loss of enthusiasm in the market despite positive headlines regarding legalization [6] - Positive news in the marijuana sector often leads to short-term price increases, but these gains are not sustainable due to the industry's profitability challenges [7]

Core Point - The order being signed does not legalize marijuana or sanction its use as a recreational drug, emphasizing that it is not related to future legalization efforts [1] Group 1 - The statement highlights the distinction between the order and the legalization of marijuana, clarifying that it does not endorse recreational use [1]

Core Points - President Trump signed an executive order to reclassify marijuana as a Schedule III drug, easing some federal restrictions and allowing for more research opportunities [1][3] - The reclassification is aimed at addressing the medical needs of individuals suffering from extreme pain and incurable diseases, positioning marijuana as a substitute for opioid painkillers [2][4] - Marijuana stocks experienced a surge in value following rumors of the executive order prior to its announcement [3] Industry Impact - The reclassification could provide tax relief for marijuana businesses in states where the substance is already legalized, potentially boosting the industry [2] - Trump's campaign for a third term in 2024 indicates a shift towards a more favorable stance on marijuana, suggesting future legislative support for the industry [4][5] - The executive order does not fully legalize marijuana but represents a significant step towards more lenient regulations, which could enhance market conditions for marijuana-related businesses [1][4]

For hardly the first time in recent days, investors have become excited about the prospect of a significant change in U.S. drug laws.Will he or won't he? This is the question that's been front of mind for many marijuana stock investors over the past few days, as both credible media reports and President Trump himself fueled speculation that he will begin the process of decriminalizing the drug. Comments from the President late Monday injected new bullishness into weed stocks the following day. Sector mainst ...

Industry Overview - The cannabis sector is experiencing significant upward movement, driven by investor interest across a range of stocks following news of President Trump's potential reclassification of marijuana [1][2] - Reclassification could enhance medical research opportunities and broaden legal use cases, potentially leading to increased business activity in the medical cannabis sector [2] Company Focus: WM Technology - WM Technology (MAPS) has seen a notable stock increase of 17%, indicating strong investor enthusiasm, especially after a period of decline [4] - The company operates an online cannabis marketplace, providing e-commerce capabilities for legal cannabis purchases, which positions it well for growth if federal legalization occurs [5] - WM Technology's offerings include a Weedmaps marketplace, enhancing consumer access to local retailers and brands, which could drive future growth and improve valuation multiples [6] Financial Performance - WM Technology has reported positive earnings over the past year, although negative earnings are anticipated in the upcoming year due to slim profit margins [8] - The company's relative financial strength is appealing compared to many unprofitable peers in the cannabis sector, which has led investors to explore other sectors for growth opportunities [8]