GAINERS: Body and Mind (OTC:BMMJ) shares closed up 6900.00% at $0.01 Global Compliance (OTC:FUAPF) shares closed up 70.00% at $0.00 Canopy Gwth (NASDAQ:CGC) shares closed up 20.90% at $1.66 4Front Ventures (OTC:FFNTF) shares closed up 20.00% at $0.00 Tilray Brands (NASDAQ:TLRY) shares closed up 11.20% at $0.49 Village Farms Intl (NASDAQ:VFF) shares closed up 9.43% at $1.04 Rocky Mountain High (OTC:RMHB) shares closed up 6.67% at $0.00 Full story available on Benzinga.com

From the death of a cannabis legalizer to the revival of a meme war, this week brought sharp contrasts across the cannabis world. Global innovation advanced, with Canada's GrowerIQ landing in Thailand and Curaleaf's medical vaporizer getting EU clearance, while in the U.S., outdated enforcement strategies resurfaced at the DEA. Sales are up, jobs are down, California is raising taxes and DoorDash is delivering hemp drinks. In New York, padlocked illegal shops may soon reopen. In Indonesia, a basketball player faces a possible death sentence over cannabis candy. And from Berlin to Bogotá, Uruguay's public health cannabis model—crafted by José "Pepe" Mujica—still offers a beacon, even as it risks being left behind. Earnings & Market Moves Organigram lights up Q2 Organigram (NASDAQ:OGI) reported a 74% year-over-year revenue increase, reaching $45.7 million and beating the consensus estimate of $42.28 million. The boost came from international and recreational sales, including contributions from its Motif acquisition. Adjusted EBITDA reached CA$4.9 million, up from a CA$1 million loss a year ago. Read more on Benzinga Planet 13 grows revenue, swings to EBITDA loss Planet 13 (OTCQX:PLNH) posted Q1 2025 revenue of $28 million, a 22.5% increase from Q1 2024, largely driven by new Florida dispensaries. Gross margin dropped to 42.8%, while adjusted EBITDA came in at a $2.5 million loss, down from break-even last year. Village Farms repositions with produce spin-off Village Farms International (NASDAQ:VFF) announced a $40 million cash deal to offload its produce division into a joint venture backed by Sweat Equities. The company posted Q1 revenue of $77.1 million and a net loss of $6.7 million, though its Canadian cannabis business generated $3 million in net income. Glass House beats expectations Glass House Brands (OTC:GLASF) reported Q1 revenue of $44.8 million, up 49% year-over-year, with biomass volume up 149% and cost per pound down 41%. Adjusted EBITDA came in at $4.4 million, exceeding guidance. LEEF Brands taps Glass House in strategic deal LEEF Brands (OTC:LEEF) announced a dispensary management and biomass supply agreement with Glass House Brands. The deal allows each to focus on core strengths—retail for Glass House, extraction for LEEF. iAnthus swings to profit iAnthus (OTC:ITHUF) reported Q1 revenue of $38.1 million, down from Q4 2024. However, it recorded $5.1 million in net income, driven by asset sales. Adjusted EBITDA was $3.2 million. Ascend stays cash-flow positive Ascend Wellness Holdings (OTC:AAWH) reported Q1 revenue of $128 million, down 5.9% sequentially, with retail and wholesale both declining. Net loss widened to $19.3 million, but the company generated $5.9 million in operating cash flow. Hydrofarm restructures amid sales drop Hydrofarm Holdings (NASDAQ:HYFM) reported Q1 net sales of $40.5 million, a 25% drop year-over-year, and a ...Full story available on Benzinga.com

GAINERS: Nextleaf Solutions (OTC:OILFF) shares closed up 13.87% at $0.04 FLUENT (OTC:CNTMF) shares closed up 12.00% at $0.06 Urban-gro (NASDAQ:UGRO) shares closed up 8.67% at $0.38 CNBX Pharmaceuticals (OTC:CNBX) shares closed up 7.81% at $0.00 Maple Leaf Green World (OTC:MGWFF) shares closed up 7.30% at $0.01 Rocky Mountain High (OTC:RMHB) shares closed up 7.14% at $0.00 Mexco Energy (AMEX:MXC) shares closed up 6.87% at $7.00 Zoned Properties (OTC:ZDPY) shares closed up 5.38% at $0.44 CV Sciences (OTC:CVSI) shares closed up 4.73% at $0.03 1933 Industries (OTC:Full story available on Benzinga.com

As THC pouches slowly gain traction in the cannabis industry, new commentary from economist Beau Whitney suggests the potential may be far greater than previously understood—if key barriers are addressed. Whitney, founder of Whitney Economics and one of the most cited cannabis economists in the U.S., told Benzinga that THC pouches could act as a direct substitute for chewing tobacco, which is a global market estimated to be worth between $20 billion and $30 billion annually. "This is about the same as all of the cannabis sold in the U.S. in 2024, regardless of delivery mechanism," Whitney noted. The comparison casts new light ...Full story available on Benzinga.com

Veteran hedge fund manager Doug Kass isn't mincing words about the state of the cannabis industry. In a recent column titled “Picking the Cannabis Winners in an Industry Full of the Walking Dead,” the Seabreeze Partners president outlined why he believes most public cannabis companies are distressed and structurally unsound — but also identified a small group he still considers investable. ‘The Walking Dead’ Of Weed Stocks According to Kass, a majority of cannabis equities today are effectively "walking dead," their survival contingent on the ability to refinance mounting debt. And even for those that manage to raise capital, significant equity dilution could leave shareholders with little value. "The cannabis industry now consists of only a handful or two of private and public companies that are healthy and who reside in the land of the living," Kass wrote. "Most of the other public equities are among the walking dead." He argues the industry's earlier projections for market size, sales and profitability were dramatically overstated, leading to disappointing results and poor investor returns. That disillusionment has been compounded by structural headwinds — oversupply, inconsistent state-level rollouts and sluggish legalization progress — all contributing to weak dispensary unit economics and price compression. Kass also noted that access to capital has dried up, leading some operators ...Full story available on Benzinga.com

California's cannabis industry was dealt a serious blow this week as Gov. Gavin Newsom's revised state budget confirmed the scheduled increase in the cannabis excise tax from 15% to 19%, effective July 1. The change, originally triggered by Assembly Bill 195 in 2022, will move forward despite calls from industry leaders and lawmakers to delay or freeze the hike amid ongoing market contraction and widespread business closures. ‘A More Than 25% Tax Increase’ On A Declining Market The California Cannabis Operators Association (CaCOA), which represents over 300 licensed businesses across the state, warned the increase could be catastrophic. "California's legal cannabis industry cannot withstand a more than 25% tax increase when sales have already declined by 19% and thousands of businesses have closed their doors," said Amy O'Gorman Jenkins, executive director of CaCOA. "Raising taxes on a struggling industry—especially one already undercut by untaxed, unregulated operators—defies economic sense and contradicts Proposition 64's core intent." The tax bump stems from a 2022 policy change that eliminated California's cannabis cultivation tax and shifted revenue collection downstream to retail. Under that law, the excise tax rate was set to adjust based on revenue trends and the California Department of Tax and Fee Administration (CDTFA) ...Full story available on Benzinga.com

GAINERS: Leafbuyer Techs (OTC:LBUY) shares closed up 58.05% at $0.03 Greenlane Hldgs (NASDAQ:GNLN) shares closed up 13.21% at $0.01 Blueberries Medical (OTC:BBRRF) shares closed up 9.66% at $0.01 EnWave (OTC:NWVCF) shares closed up 7.78% at $0.25 Zoned Properties (OTC:ZDPY) shares closed up 7.68% at $0.42 Cannabix Technologies (OTC:BLOZF) shares closed up 6.62% at $0.45 Auxly Cannabis Group (OTC:CBWTF) shares closed up 6.45% at $0.07 Charlottes Web Holdings (OTC:CWBHF) shares closed up ...Full story available on Benzinga.com

This week's cannabis earnings highlighted a widening divergence between U.S. operators. LEEF Brands (OTCQB:LEEEF) saw its stock jump nearly 25% after striking a new dispensary management and supply deal with Glass House Brands (OTCQX:GLASF). Meanwhile, Glass House rose 4.5% on solid Q1 results, Charlotte's Web (OTCQX:CWBHF) traded flat despite its first year-over-year revenue growth in years and AFC Gamma (NASDAQ:AFCG) dipped almost 2% as it worked to de-risk its lending book. Here's a breakdown of each company's report and what investors need to know. LEEF Brands Shares of LEEF Brands surged nearly 25% Wednesday after announcing a new management services agreement with Glass House Brands to operate The LEAF El Paseo, a Palm Desert dispensary. The deal gives Glass House control over daily operations, while LEEF secures a significant biomass supply agreement to fuel its extraction lines. "This partnership is a true win-win," said LEEF CEO Micah Anderson. "It allows us to sharpen our focus on concentrates while strengthening production capacity." The agreement marks Glass House's first formal retail management deal and offers both companies strategic upside. For Glass House, it expands retail reach without the capital requirements of building new stores. For LEEF, it enhances supply chain security while offloading operational complexity in retail. Glass ...Full story available on Benzinga.com

By Javier Hasse via El Planteo As debates over cannabis reform continue across the globe, one country has a full decade of experience to draw from—and it just lost the man who helped make it happen. This week, José "Pepe" Mujica, the former Uruguayan president who oversaw the world's first full legalization of adult-use cannabis, passed away at the age of 89. Widely revered for his humility, progressive ideals and radical honesty, Mujica's cannabis law was never about business; it was about dismantling hypocrisy and improving public health. A decade later, the legacy of that 2013 law was front and center at C-Days 2025, a global cannabis and psychedelics summit held in Barcelona. Speaking at the event, Mercedes Ponce de León, founder of Latinnabis and director of Expo Cannabis Uruguay, offered a data-rich overview of Uruguay's cannabis model: its results, its limits and what it can teach the rest of the world. Three Legal Channels, Over 100,000 Registered Consumers Uruguay's adult-use system offers three legal pathways for non-medical cannabis access: Home grow: Up to ...Full story available on Benzinga.com

Carlos "Los" Arias spent years building one of California's most ambitious cannabis companies. But the moment that mattered most didn't happen under grow lights or in a boardroom. It happened at Cedars-Sinai Hospital, where Arias, then deep in Colorado's cannabis industry, begged a doctor to recommend medical cannabis to his skeptical Cuban-American father, Manuel F. Arias. "I saw cannabis as a drug, and my son was telling me he wanted to be a drug dealer," Manuel would later recall. "How could I be happy about that?" What followed changed both of their lives and laid the groundwork for a new legacy. From Misunderstanding To Reconciliation In 2012, Manuel was preparing to hand over the family's health insurance brokerage to his son Los, who, fresh out of law school, had other plans. He wanted to get into the cannabis industry—an idea his father couldn't support. Then came Manuel's stroke in 2014. During recovery, Manuel's physician at Cedars-Sinai turned out to be a medical cannabis advocate. On his son's urging, Manuel began taking edibles and tinctures. Sleep improved. Healing accelerated. And slowly, something else happened: the wall between father and son ...Full story available on Benzinga.com

Tilray Brands, Inc. (NASDAQ:TLRY) shares are trading relatively flat in the premarket session on Wednesday. The firm has announced a product line expansion through its subsidiary, High Park Holdings Ltd., entering deeper into Canada's cannabis-infused consumer market. The launch of XMG Atomic Sours, a new lineup of sour-flavored cannabis drinks and gummies, is the latest move in Tilray's bid to diversify its product portfolio and tap into emerging customer preferences. Tilray said that the XMG Atomic Sours beverages is available nationwide via select retailers. Also Read: Germany’s Cannabis Industry Hits 500 Million ...Full story available on Benzinga.com

José "Pepe" Mujica, former president of Uruguay and one of the world's most respected progressive leaders, passed away at 89. Known globally for his humility, straight talk and devotion to public service, Mujica is perhaps most widely remembered for his role in making Uruguay the first country in the world to legalize recreational cannabis. A Historic First In 2013, while serving as president, Mujica led Uruguay through the passage of a groundbreaking cannabis regulation law, transforming marijuana from a criminalized substance into a state-regulated market. The move wasn't designed for commercial gain or global recognition. Mujica framed it instead as a pragmatic response to drug trafficking, arguing that the real solution was to undercut illegal markets. As he put it in 2012: "We believe we're spoiling the market for drug traffickers because the real problem is drug trafficking, not marijuana." More than a decade later, Uruguay remains a model for cannabis policy reform around the world. Mujica's leadership continues to influence global ...Full story available on Benzinga.com

GAINERS: Village Farms Intl (NASDAQ:VFF) shares closed up 35.12% at $0.96 1933 Industries (OTC:TGIFF) shares closed up 25.00% at $0.01 Charlottes Web Holdings (OTC:CWBHF) shares closed up 17.28% at $0.10 C21 Investments (OTC:CXXIF) shares closed up 10.57% at $0.15 Blueberries Medical (OTC:BBRRF) shares closed up 9.70% at $0.01 4Front Ventures (OTC:FFNTF) shares closed up 7.14% at $0.00 Curaleaf Holdings (OTC:CURLF) shares closed up 5.89% at ...Full story available on Benzinga.com

As the cannabis industry continues to navigate macroeconomic headwinds and regulatory uncertainty, a number of U.S. and Canadian operators reported first-quarter 2025 earnings this week. From margin stabilization and restructuring efforts to international expansion and asset divestitures, the results show a sector trying to find a sustainable footing. One standout: Village Farms International, which saw its stock surge nearly 33% on Tuesday following its earnings and a major divestiture announcement. Here's how four key players performed. Hydrofarm Hydrofarm (NASDAQ:HYFM), a leading supplier of hydroponic equipment, reported net sales of $40.5 million, down 25.2% year-over-year. The company cited continued oversupply in the cannabis industry as the main driver. Gross profit dropped to $6.9 million (17.0% margin), while adjusted gross profit fell to $8.5 million (21.0% margin). Hydrofarm posted a net loss of $14.4 million, widening from $12.6 million in Q1 2024. Adjusted EBITDA came in at negative $2.4 million, compared to a slight gain in the same period last year. Still, management highlighted progress in shifting toward higher-margin proprietary products and trimming SG&A costs, which declined by 11% on an adjusted basis. The ...Full story available on Benzinga.com

As cannabis goes global, some of the world's largest companies are starting to show their hand. One of them is Philip Morris International Inc. (NYSE:PM), the world's biggest tobacco company by market cap and one of the most deliberate players in the cannabis space. While peers like Altria and British American Tobacco (BAT) have made splashier moves into recreational marijuana markets, PMI has taken a quieter, more clinical approach: targeting medical cannabis, forming R&D alliances and testing products in tightly regulated markets like Canada. While often overlooked, its cannabis strategy is beginning to take shape, and its latest partnerships suggest this is just the beginning. A Decade In The Making: PMI's Measured Cannabis Timeline PMI's interest in cannabis began almost a decade ago. In 2016, it made a strategic investment in Syqe Medical, an Israeli company known for its precision-dose cannabis inhaler. That investment eventually culminated in full acquisition in 2023, marking PMI's first major cannabis takeover. Fast forward to 2024–2025, and PMI's footprint has expanded through its pharmaceutical and wellness subsidiary, Vectura Fertin Pharma: In September 2024, Vectura launched its first cannabis product, the Luo CBD lozenge, distributed via a partnership with Aurora Cannabis Inc. (NASDAQ:ACB) and its Canadian medical platform. In January 2025, Vectura Fertin Pharma and Avicanna Inc. (OTC:AVCNF), a cannabinoid-focused biopharma company, announced a medical and scientific ...Full story available on Benzinga.com