Market Overview - The US stock market is experiencing fluctuations near historical highs, with the S&P 500 index dropping 0.25% to 6373.45 points, the Nasdaq down 0.3% to 21385.4 points, and the Dow Jones down 0.45% to 43975.09 points [1][3] Economic Indicators - The upcoming US July CPI report is seen as a catalyst for market sentiment, with predictions that if the core CPI month-on-month growth is below 0.25%, the S&P 500 could rise by 1.5%-2%, while exceeding 0.4% could lead to a drop of 2%-2.75% [3] Investor Sentiment - A monthly survey by Bank of America indicates that approximately 91% of respondents believe US stocks are overvalued, marking the highest level since the survey began in 2001 [3] Sector Performance - The lithium sector saw significant gains due to production halt news from a project under CATL, with companies like American Lithium up 9.32% and Sigma Lithium up 22.79% [3] - AI application stocks faced declines, with C3.ai dropping 25.58% due to disappointing sales performance attributed to organizational restructuring and health issues of the CEO [4] - Another AI stock, BigBear.ai, also reported weaker-than-expected earnings, leading to a nearly 30% drop in its stock price [5] - Cannabis stocks experienced notable movements, with Tilray Brands rising 41.82% and Canopy Growth up 26.40% due to policy rumors [6] - Chocolate producer Hershey's stock fell 4.8% amid rising cocoa futures [7] Notable Stock Movements - Major tech stocks showed mixed results, with Apple down 0.83%, Microsoft down 0.05%, and Tesla up 2.85% [8] - Chinese concept stocks had a varied performance, with Alibaba down 1.43% and NIO up 1.45% [8]

Core Viewpoint - Trump's consideration of reclassifying cannabis to a lower danger level has led to a significant surge in cannabis stocks, indicating potential positive changes for the industry [1]. Group 1: Market Reaction - Cannabis-related stocks experienced strong performance on Monday, with Canopy Growth rising over 26%, Tilray Brands soaring more than 41%, and Cronos Group jumping over 14% to reach a 52-week high [1][2]. - Many cannabis stocks are currently priced below $1 per share, meaning small price changes can lead to substantial percentage increases [2]. Group 2: Regulatory Changes - Under current U.S. federal law, cannabis is classified as a Schedule I controlled substance, similar to cocaine [3]. - Discussions have focused on reclassifying cannabis to Schedule III, which includes steroids and products containing codeine [3]. - Tilray's CEO, Irwin Simon, anticipates that the reclassification process may take about a year, but Trump's public discussion has generated optimism within the industry [3][4]. Group 3: Political Support - Tim Seymour noted that the change in cannabis classification appears to have bipartisan support, suggesting a favorable environment for investment in the sector [5]. - Trump's involvement is seen as a potential catalyst for change, although he cannot unilaterally reclassify the drug [6][7].

Core Viewpoint - Cannabis stocks surged on Monday, with Canopy Growth (CGC.US) and Tilray Brands (TLRY.US) rising nearly 20%, Aurora Cannabis (ACB.US) up nearly 13%, and Cronos Group (CRON.US) increasing by nearly 12% due to reports that Trump is considering reclassifying cannabis as a lower-risk substance [1] Group 1 - Canopy Growth (CGC.US) experienced a significant price increase of nearly 20% [1] - Tilray Brands (TLRY.US) also saw a rise of nearly 20% [1] - Aurora Cannabis (ACB.US) rose nearly 13% [1] - Cronos Group (CRON.US) increased by nearly 12% [1] Group 2 - The surge in cannabis stocks is linked to a report from The Wall Street Journal regarding Trump's potential reclassification of cannabis [1]

Investor Presentation FY26 Q1 June 2025 Disclaimer CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Certain information contained in this presentation constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this presentation that are not statements of historical fact may be deemed to be forward-looking statements. Forward looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend ...

Industry Overview - The cannabis industry has experienced significant volatility, leading to concerns among investors, but there is potential for recovery and long-term gains [1][2] - Regulatory reforms and market changes are expected to improve trading conditions, particularly with banking reforms [3] Company Highlights - **Planet 13 Holdings Inc.**: Engages in cultivating and providing cannabis products for medical and retail markets in the U.S. Recently entered a partnership with Ovation Science Inc. to introduce topical cannabis products in Florida [4][6] - **FLUENT Corp**: Cultivates and sells medical cannabis products across several states including Florida and New York. Announced a share debt settlement involving the issuance of 2,750,000 common shares to settle US$137,500 in director fees [7][10][11] - **Ascend Wellness Holdings, Inc.**: Focuses on the cultivation and distribution of cannabis consumer packaged goods. Recently launched a revamped eCommerce ecosystem aimed at enhancing customer experience and loyalty [8][12]

Financial Data and Key Metrics Changes - In Q1 2025, the company achieved a net profit with an 87% improvement in gross margin compared to Q1 2024 [5] - Adjusted EBITDA in Q1 2025 resulted in a profit of $600,000, an improvement of almost $3,000,000 from an adjusted EBITDA loss of $2,200,000 in Q1 2024 [8] - Revenues for Q1 2025 were $12,500,000, a 4% increase from $12,100,000 in Q1 2024, primarily driven by growth in Germany [8][10] - Gross profit for Q1 2025 was $3,400,000, a 94% increase from $1,800,000 in Q1 2024 [10] - Net profit for Q1 2025 was approximately $200,000, compared to a loss of $6,000,000 in Q1 2024, marking a $6,200,000 improvement [11] Business Line Data and Key Metrics Changes - The German business grew by 569% compared to Q1 2024, significantly offsetting a 66% revenue decline in Israel [6][8] - The company launched 12 new strains in Germany, contributing approximately €3,000,000 or 39% of cannabis flower sales in that market [5] - The decline in Israeli revenue was attributed to the cancellation of the Orenin deal, resulting in a decrease of approximately $3,500,000 compared to Q1 2024 [9] Market Data and Key Metrics Changes - Germany's share of total revenue in Q1 2025 increased to 62%, reflecting favorable market conditions and growing demand [9] - The cost of revenue decreased by 12% to $9,100,000 in Q1 2025, down from $10,300,000 in Q1 2024 [9] Company Strategy and Development Direction - The company is focusing on execution and resource allocation to areas with the highest return on investment (ROI) [5] - The strategic shift towards the German market is evident, with significant growth in that region while managing operational efficiencies [6][8] Management's Comments on Operating Environment and Future Outlook - Management expressed pride in the team's efforts and noted that the efficiencies and integration from the past two years are starting to reflect in financial results [6][11] - The company aims to continue executing its strategy and maintain profitability moving forward [7] Other Important Information - Total assets as of March 31, 2025, were $44,934,000, an increase of 15% from $39,188,000 as of December 31, 2024 [11] - Total liabilities increased by 16% to $41,761,000 as of March 31, 2025, compared to $36,042,000 as of December 31, 2024 [12] Q&A Session Summary Question: Importance of the upcoming meeting for accepting 25% ownership of Focus - Management indicated that this is a long process on the regulatory side and is crucial for clearing balances between companies and moving long-term loans to equity [17][18] - The need to hold 100% of the Focus shares is based on tax regulations to avoid issues with tax authorities [19]