Will Market Changes Impact Marijuana StocksThere have been many changes and phases to legal cannabis around the globe. With the USA being the biggest market and Canada becoming the first to outright legalize the plant. This has been a slow uphill climb as laws and regulatory matters have made things anything but easy. However, this has not deterred potential investors from seeing an opportunity. Marijuana stocks have offered the average investor or person a chance to enter the space.Most of the public secto ...

year-to-date results show a continued growth trend."I am truly excited to embark on this new chapter as our company joins forces with Organigram. Sanity's strong focus in Europe is highly complementary to Organigram's strengths, and I have tremendous confidence in their vision and ambitious business plan to scale internationally. Together, we are poised to unlock significant growth opportunities, especially as new European markets open to both medical and recreational cannabis programs. Organigram has alrea ...

Core Insights - Organigram Global Inc. (NASDAQ:OGI) is recognized as one of the top cannabis stocks to invest in currently [1] - The company reported Q1 revenue of $97.3 million, surpassing the consensus estimate of $73.15 million, with an adjusted EBITDA of $5.3 million, up from $1.4 million year-over-year [2] - The growth in revenue and profits is attributed to higher flower yields, synergies from the Motif integration, increased international sales, and improved operational efficiency [2] - Canaccord initiated coverage of OGI with a price target of C$3 and a Buy rating, highlighting the Canadian cannabis market as a global benchmark despite existing challenges [3] Financial Performance - Q1 revenue reached $97.3 million, exceeding the consensus of $73.15 million [2][7] - Adjusted EBITDA increased to $5.3 million from $1.4 million in the previous year, indicating significant profit growth [2] Market Position and Strategy - Organigram is a market leader in pre-rolls, extracts, and milled flower, and is transitioning to a globally integrated, vertically integrated cannabis corporation [3] - The company aims to expand its global presence through international business alliances [4]

Industry Overview - The cannabis industry is expected to see significant changes by 2026, with potential for increased momentum in marijuana stocks due to U.S. federal reform aimed at improving profitability among leading operators [1] - Expanding international medical markets are also anticipated to play a crucial role for investors in the cannabis sector [1] Market Dynamics - Global partnerships between different cannabis markets are emerging as a key trend, suggesting selective but compelling investment opportunities for informed investors [2] - Staying updated on trends and company developments is essential for determining the performance of individual marijuana stocks [2] Investment Strategy - Despite the volatility in the cannabis sector, the potential rewards may justify the risks, with 2026 seen as a transitional year from speculative hype to fundamental value creation [3] - Investors who focus on regulatory awareness, financial analysis, and strategic diversification will be well-positioned to benefit from the next growth phase in marijuana stocks [3] Company Highlights - **Planet 13 Holdings Inc.** has exited the California cannabis market as of February 12, 2026, to concentrate on other growth markets, reflecting a strategic decision to streamline operations [7][8] - **Jushi Holdings Inc.** has opened a new Beyond Hello™ location in Ohio, marking its second retail outlet in Cincinnati, which is part of its strategic growth plan in the state [10][11]

Core Viewpoint - TerrAscend Corp. will host a conference call to discuss its financial results for the fourth quarter and full year ended December 31, 2025, on March 12, 2026, at 5:00 p.m. Eastern Time [1]. Group 1: Conference Call Details - The conference call is scheduled for Thursday, March 12, 2026, at 5:00 p.m. Eastern Time [2]. - A webcast of the conference call will be available at the provided link [2]. - The dial-in number for the call is 1-888-510-2154, with a replay available until midnight Eastern Time on March 26, 2026 [2]. Group 2: Company Overview - TerrAscend is a leading cannabis company listed on the TSX, with operations across North America, including states like Pennsylvania, New Jersey, Maryland, Ohio, and California [3]. - The company operates retail locations such as The Apothecarium and has scaled cultivation, processing, and manufacturing facilities [3]. - TerrAscend offers a diverse product selection for both medical and legal adult-use markets, owning or licensing several brands including Cookies, Ilera Healthcare, and Wana [3].

Core Insights - Canopy Growth Corporation reported mixed results for Q3, with revenue exceeding estimates and a narrower loss, although per-share results fell short of expectations [2][3] Financial Performance - Net revenue for the quarter was C$74.5 million, roughly unchanged from the previous year and above the C$70.5 million consensus estimate [3] - The company reported a loss of C$0.18 per share, an improvement of approximately 84% year-over-year, but higher than the expected loss of C$0.08 per share [3] - Net loss narrowed by 49% year-over-year, while adjusted EBITDA loss decreased by 17%, attributed to stronger sales execution and reduced SG&A expenses [4] Revenue Breakdown - Cannabis net revenue increased by 4% to C$52 million [4] - Canadian medical cannabis revenue rose by 15% to C$23 million, driven by growth in insured patients and larger order sizes [4] - Canadian adult-use revenue increased by 8% to C$23 million, supported by growth in infused pre-rolls and new all-in-one vape products [4] - International cannabis revenue declined by 31% year-over-year due to supply chain challenges in Europe, but increased by 22% sequentially as shipments improved [5] Cost Management - Consolidated gross margin decreased to 29% from 32% a year ago, reflecting lower international cannabis sales and changes in product mix [6] - Selling, general, and administrative expenses fell on an adjusted basis due to headcount reductions and lower third-party costs [6] - The company achieved C$29 million in annualized cost savings since March 2025 and continues to seek additional efficiencies [6] Strategic Developments - The acquisition of MTL Cannabis is on track to close in the current quarter, expected to strengthen the company's global cannabis platform [7] - CEO Luc Mongeau noted that the third quarter reflects improving fundamentals and a more focused operating model, particularly in Canada [7] - Following the report, shares of Canopy Growth increased by 1.9% [8]

Core Viewpoint - Tilray Brands stock has experienced a significant decline, dropping over 68% from its peak in October, with a current price of $7.45, indicating a bearish trend but potential for a bullish reversal pattern to emerge [1] Group 1: Stock Performance - Tilray Brands stock price has fallen to its lowest level since December, with a notable drop from $15.75 in December to $7.45 currently [1] - The AdvisorShares Pure US Cannabis ETF has also seen a decline, falling from $7.25 in December to $4.10 [1] Group 2: Reasons for Decline - The stock's decline is attributed to the lack of progress in cannabis rescheduling, as Attorney General Pam Bondi has not taken steps to reschedule cannabis from Schedule 1 to Schedule 3, despite requests from former President Donald Trump [1] - The rescheduling process is expected to take months or years, and it is not anticipated to provide immediate benefits to companies like Tilray Brands, which face challenges in the banking sector [1] Group 3: Business Performance - Tilray Brands reported a 3% increase in revenue for the second quarter, totaling $217 million, but gross profit decreased from $61.2 million to $57.5 million [1] - Cannabis revenue remained stable at $65.7 million, while distribution revenue increased significantly from $67.6 million to $85.3 million, becoming the largest segment [1] - The beverage segment, however, saw a decline in revenue from $63 million to $50 million, and the wellness segment remained flat at $14.6 million [1] - The net loss improved slightly from $43.5 million to $41.8 million, with analysts projecting single-digit revenue growth moving forward [1] Group 4: Technical Analysis - The stock has moved below key technical levels, including the 78.6% Fibonacci Retracement level at $7.73 and the 50-day and 100-day Exponential Moving Averages [1] - Signs of a potential double-bottom pattern are emerging at $7, with a neckline at $15, suggesting a possible rebound in the coming weeks [1] - The next resistance level to monitor is the Major S&R Pivot Point at $12.5, with historical volatility indicating potential for a pullback following any rebound [1]

Core Viewpoint - Village Farms International, Inc. (VFF) is currently valued as a balanced agriculture company, despite significant changes in its business structure since the 2025 transaction that deconsolidated most of its produce operations [1] Group 1: Company Overview - The company has shifted its focus primarily towards cannabis, with reported earnings, margins, and operating leverage reflecting this transition [1]

Core Viewpoint - Village Farms International (VFF) is currently valued as a balanced agriculture company, but its financial performance is predominantly driven by its cannabis operations following the 2025 transaction that deconsolidated most of its produce business [1] Group 1: Company Overview - Village Farms International is involved in both vegetable and cannabis production, but the market perception is lagging behind its actual operational focus [1] - The deconsolidation in 2025 has shifted the company's earnings, margins, and operating leverage significantly towards cannabis, indicating a need for reevaluation of its market valuation [1]

Financial Data and Key Metrics Changes - High Tide reported record revenue of CAD 164 million for Q4 2025, representing a 19% year-over-year increase and a 10% sequential increase [7][26] - The annual revenue run rate exceeded CAD 650 million, with record Adjusted EBITDA of CAD 12.4 million, up 51% year-over-year [7][28] - Consolidated gross margins were 26% in Q4, consistent with the previous year, while Adjusted EBITDA margins reached a new record of 9.4% [27][28] Business Line Data and Key Metrics Changes - The brick-and-mortar segment led revenue growth, achieving a 15% year-over-year increase, driven by same-store sales growth of 5.5% [7][26] - Cabanalytics, the business data and insight platform, generated CAD 13.1 million in Q4, up 20% year-over-year [26] - The adjusted EBITDA for the brick-and-mortar segment was CAD 14.1 million, highlighting strong cost controls and operational efficiency [28] Market Data and Key Metrics Changes - Canna Cabana's market share in the five provinces increased to 12%, up from 11% a year ago, while total industry sales in these provinces grew by only 4% [11][12] - The average Canna Cabana store generated an annual revenue run rate of CAD 2.6 million, significantly higher than the peer average of CAD 1.2 million [11] - The company has expanded its store count by 27% in Ontario, accounting for all growth in the province, while the rest of the industry remained flat [15] Company Strategy and Development Direction - High Tide aims to add another 20-30 new stores in 2026, continuing its focus on organic growth [8] - The company is exploring M&A opportunities, with discussions ongoing regarding potential acquisitions [8][56] - High Tide's strategy includes leveraging relationships with licensed producers to enhance procurement and operational efficiency, particularly in the German market through the acquisition of Remaxion [19][70] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future growth, particularly in the German medical cannabis market, despite short-term challenges related to inventory [22][40] - The company anticipates that the U.S. regulatory environment may shift positively, creating opportunities for strategic partnerships and market entry [75] - Management highlighted the resilience of the business model, noting that competitors are exiting the market, which could provide further growth opportunities [56] Other Important Information - High Tide generated CAD 12 million of Free Cash Flow for the fiscal year, meeting its goal of remaining positive [32] - The company has a strong balance sheet with total debt of CAD 65.5 million and CAD 47.9 million in cash and cash equivalents [32] - The Cabana Club loyalty program has grown to 2.5 million members, up 45% year-over-year, contributing to customer retention and sales growth [9][47] Q&A Session Summary Question: Impact of inventory issues in Germany on Q1 results - Management acknowledged that inventory issues in Portugal would impact Q1 results but expressed confidence in future growth once these challenges are resolved [36][40] Question: Brick-and-mortar business margins and growth - Management confirmed that brick-and-mortar margins have increased for four consecutive quarters, driven by strong sales and operational efficiencies [41][46] Question: M&A environment and competitor exits - Management noted that smaller competitors are exiting the market, creating opportunities for potential acquisitions, and expressed optimism about future M&A activity [56][57] Question: Budtender training and engagement - Management emphasized the importance of budtender training and engagement to enhance customer experience and brand loyalty [64] Question: January performance and Remaxion's outlook - Management reported improved performance in January compared to previous months and expressed optimism about future gross margins for Remaxion [67][68]