La vendita allo scoperto per Trulieve Cannabis dà agli investitori un'idea del grado in cui gli investitori stanno scommettendo sul declino delle azioni di Trulieve Cannabis. I dati relativi alle vendite allo scoperto vengono aggiornati ogni due settimane.

Trulieve Cannabis (OTC:TCNNF) Azioni, Report sulle vendite allo scoperto

Trulieve Cannabis

Trulieve Cannabis Corp is a vertically integrated seed to sale and fully licensed medical marijuana company. It is mainly engaged in the cultivation, possession, use, sale, and distribution of medical cannabis.

TRULIEVE CANNABIS CORP by Trulieve Cannabis Corporation

Trulieve Cannabis Corp

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AP Reports Florida Voters Reject Cannabis Legalization; Amendment 3 Did Not Secure 60% Of Vote

SNDL Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNDL#NASDAQ">SNDL</a>) rose over 10% on <a href="https://www.benzinga.com/topic/election-day">Election Day</a> at market close, following the release of its <a href="https://www.benzinga.com/markets/cannabis/24/11/41745816/sndls-q3-revenue-slides-year-over-year-due-to-liquor-market-softening-cannabis-operations-going-">third-quarter earnings</a>, reporting CA$236.9 million ($170.65 million) in revenue.
Although the company faced a slight decline in its liquor retail segment, its core cannabis operations showed strong growth. 
SNDL's record gross margin, positive cash flow and cash reserves of over CA$263 million with zero debt-fueled investor confidence.
In contrast, Trulieve Cannabis Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>) saw an 8% decline in its stock, attributed to both its <a href="https://www.benzinga.com/markets/cannabis/24/11/41743807/trulieves-q3-revenue-up-slightly-year-over-year-net-loss-grows-amid-48m-in-cannabis-legalization">Q3 earnings report </a>and what might be the boldest move in the cannabis industry so far, since the company has made a significant investment in Florida's legalization campaign. 
Reporting $284 million in revenue—a 3% increase year-over-year—Trulieve demonstrated operational strength with a gross margin of 61% and adjusted EBITDA of $96 million. However, the company allocated $48 million to support the Florida legalization ballot initiative, which weighed heavily on its finances. Total investment in Florida&#8217;s Amendment 3 amounts to nearly <a href="https://www.benzinga.com/markets/cannabis/24/10/41405555/floridas-cannabis-amendment-record-spending-unlikely-alliances-and-criticism-from-the-catholic-c">$90 million</a>. Should voters approve recreational cannabis, Trulieve stands to benefit from its established presence, potentially reversing recent losses. However, a negative result could add strain to Trulieve's finances.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/11/41743807/trulieves-q3-revenue-up-slightly-year-over-year-net-loss-grows-amid-48m-in-cannabis-legalization">Trulieve&#8217;s Q3 Revenue Up Slightly Year-Over-Year, Net Loss Grows Amid $48M In Cannabis Legalization Support</a>
<h3 class="wp-block-heading">Cannabis Stocks On Election Day</h3>
While SNDL's resilient financials spurred a bullish reaction, Trulieve's fortunes now rest on the outcome of Florida's vote.
The general market is a different story. 
The average daily change in cannabis stock prices in Benzinga&#8217;s watchlist on Tuesday is up approximately +2.34%, indicating a generally positive sentiment in the market for cannabis stocks.
Election day underscores the heightened stakes for the cannabis sector, with investors closely watching for both state-level outcomes and federal reform, which could set the stage for a massive shift in the cannabis landscape.
If true reform materializes, cannabis stocks could experience unprecedented growth, attracting institutional investors and stabilizing a historically volatile market. However, the complexity of the political landscape could lead investors to remain cautious until concrete legislative changes are enacted.
<ul>
<li>Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/11/41745816/sndls-q3-revenue-slides-year-over-year-due-to-liquor-market-softening-cannabis-operations-going-">SNDL&#8217;s Q3 Revenue Slides Year-Over-Year Due To Liquor Market Softening, Cannabis Operations Going Strong</a></li>
</ul>
Cover: AI generated image

News

Retail Sales

Legal

SNDL

TCNNF

Cannabis Stocks React On Election Day, SNDL Surges While Trulieve Raised The Stakes

Boris Jordan, <a href="https://www.benzinga.com/topic/curaleaf">founder and executive chair</a> of Curaleaf Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTC">CURLF</a>), had some parting words for <a href="https://www.benzinga.com/topic/ron-desantis">Governor Ron DeSantis</a> who has opposed Florida's cannabis legalization initiative, Amendment 3, since day one, even after – or should we say because former President <a href="https://www.benzinga.com/markets/cannabis/24/09/40774795/trump-says-hell-reschedule-cannabis-if-elected-backs-marijuana-banking-reform-and-floridas-amend">Donald Trump endorsed it</a>?
Jordan said that DeSantis' &#8220;smear campaign&#8221; regarding Amendment 3 and his stance against cannabis legalization is misguided.
"The @GovRonDeSantis smear campaign against Amendment 3 is on the wrong side of history. Time and again, states across our nation have proven that legal adult-use cannabis can have a positive impact, generating important tax revenues while providing responsible adult consumers with access to tested and regulated products," Jordan wrote on X.
Safe &amp; Smart Florida, the group behind the legalization campaign, had a follow-up comment about how the &#8220;legalized adult-use recreational marijuana, the elimination of underground markets has driven a reduction in underage use while generating billions in tax revenue to reinvest in youth programs and scholarships.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The <a href="https://twitter.com/GovRonDeSantis?ref_src=twsrc%5Etfw">@GovRonDeSantis</a> smear campaign against Amendment 3 is on the wrong side of history. Time and again, states across our nation have proven that legal adult-use <a href="https://twitter.com/hashtag/cannabis?src=hash&amp;ref_src=twsrc%5Etfw">#cannabis</a> can have a positive impact, generating important tax revenues while providing responsible adult consumers… <a href="https://t.co/O0D5cf0x1p">https://t.co/O0D5cf0x1p</a>
&mdash; Boris Jordan (@Boris_Jordan) <a href="https://twitter.com/Boris_Jordan/status/1853555668768407854?ref_src=twsrc%5Etfw">November 4, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
<h2 class="wp-block-heading">Smear Campaign? </h2>
DeSantis has gone after the campaign's main financial backer, Trulieve Cannabis Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>), on several occasions while opposing the entire campaign with ongoing comments about weed being a smelly affair and equating it with drug cartel activity.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/11/41744722/election-day-2024-will-florida-nebraska-north-and-south-dakota-join-the-marijuana-revolution">Election Day 2024: Will Florida, Nebraska, North And South Dakota Join The Marijuana Revolution?</a>
<h2 class="wp-block-heading">DeSantis&#8217; Final Shot: Trulieve Is &#8216;Big Pharma On Steroids&#8217;</h2>
DeSantis shared his final comments on <a href="https://www.facebook.com/GovRonDeSantis">Facebook </a>Monday, directing attention toward Trulieve.
&#8220;One mega marijuana corporation has poured over $140 million into Amendment 3,&#8221; the governor said. &#8220;That's not a charitable donation in the best interests of Florida—it's a publicly-traded company trying to maximize profits for their own shareholders, by securing special privileges and permanent carve-outs in our constitution. It's like Big Pharma on steroids.&#8221;
Benzinga reached out to Trulieve for the company&#8217;s response and is awaiting comment.
Now Read:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/10/41656678/trump-harris-and-desantis-face-off-on-cannabis-legalization-in-florida-and-beyond">Trump, Harris And DeSantis Face Off On Cannabis Legalization In Florida And Beyond</a></li>
</ul>
Photo: Benzinga edit with images by&nbsp;<a href="https://www.flickr.com/people/22007612@N05" target="_blank" rel="noreferrer noopener">Gage Skidmore</a>&nbsp;from Surprise, AZ,&nbsp;USA&nbsp;–&nbsp;<a href="https://www.flickr.com/photos/gageskidmore/53299142646/" target="_blank" rel="noreferrer noopener">Ron DeSantis</a>&nbsp;via Wikimedia Commons and&nbsp;<a href="https://unsplash.com/@joseluissp_ph" target="_blank" rel="noreferrer noopener">Jose Luis Sanchez Pereyra</a>&nbsp;via Unsplash

Government

DeSantis 'On Wrong Side Of History,' Curaleaf Chair Says: Governor Calls Trulieve 'Big Pharma On Steroids'

Trulieve Cannabis Corp. (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTCQX">TCNNF</a>) reported financial results Tuesday for the quarter ended Sept. 30, 2024, showing revenue of $284 million, up 3% from the same period last year.
&#8220;As voters in Florida cast their ballots across the state today, there is an opportunity to make history by approving cannabis legalization for personal use,&#8221; stated Kim Rivers, Trulieve CEO. &#8220;With 156 stores in Florida, scaled production capacity, and sufficient capital to support further investment, if approved, Trulieve is best positioned to fully prepare for the launch of recreational sales next Spring.&#8221;
<h2 class="wp-block-heading">Q3 2024 Financial Highlights</h2>
<ul>
<li>Gross margin of 61%, with GAAP gross profit of $173 million.</li>
<li>Net loss was $60 million, compared to $25.4 million in the same quarter last year.</li>
<li>Adjusted net loss of $12 million excludes $48 million in campaign support and other non-recurring charges, asset impairments, disposals and discontinued operations.</li>
<li>Adjusted EBITDA was a gain of $96 million, or 34% of revenue, up 24% year-over-year.</li>
<li>Cash flow from operations was $30 million and free cash flow of $ (7) million, both of which were impacted by $48 million in campaign support. This compares to cash flow from operations of $93.4 million and free cash flow of $87.2 million in the same period last year.</li>
<li>Cash and short-term investments at quarter-end totaled $319 million.</li>
</ul>
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41497252/trulieve-ceo-kim-rivers-calls-out-distortions-in-ads-opposing-floridas-cannabis-amendment">Trulieve CEO Kim Rivers Calls Out &#8216;Distortions&#8217; In Ads Opposing Florida&#8217;s Cannabis Amendment</a>
Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.
<h2 class="wp-block-heading">Recent Milestones</h2>
<ul>
<li>Launched adult-use sales at three Ohio locations: Beavercreek, Columbus and Westerville.</li>
<li>Rolled out #YesOn3 product line to support Smart and Safe Florida adult-use campaign.</li>
<li>Entered<a href="https://www.benzinga.com/markets/cannabis/24/08/40586209/cannabis-giant-trulieve-breaks-ground-as-first-cannabis-sponsor-of-u-s-pro-pickleball"> partnership</a> with Professional Pickleball Association and Major League Pickleball to sponsor events in Arizona, Florida and Georgia.</li>
<li>Opened 15 new dispensaries in Florida and Pennsylvania.</li>
<li>Operates 220 retail dispensaries and over four million square feet of cultivation and processing capacity in the United States.</li>
</ul>
<h2 class="wp-block-heading">Price Action</h2>
Trulieve shares closed Monday's market session 3.59% higher at $12.70 per share.
Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/11/41726320/hemp-donations-fuel-desantis-and-florida-gops-charge-against-weed-legalization-new-findings">Hemp Donations Fuel DeSantis And Florida GOP&#8217;s Charge Against Weed Legalization, New Findings</a>
Photo: Courtesy of Branding Pot via Shutterstock

Earnings

Trulieve's Q3 Revenue Up Slightly Year-Over-Year, Net Loss Grows Amid $48M In Cannabis Legalization Support

Trulieve Cannabis (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>) reported quarterly losses of $(0.06) per share which beat the analyst consensus estimate of $(0.13) by 53.85 percent. The company reported quarterly sales of $284.30 million which missed the analyst consensus estimate of $291.33 million by 2.41 percent. This is a 3.31 percent increase over sales of $275.20 million the same period last year.

Earnings Beats

Earnings Misses

Trulieve Cannabis Q3 2024 Adj EPS $(0.06) Beats $(0.13) Estimate, Sales $284.30M Miss $291.33M Estimate

As Americans head to the polls on November 5 to elect a new president, Floridians will also weigh in on cannabis legalization. Gov. <a href="https://www.benzinga.com/topic/ron-desantis">Ron DeSantis</a> has been leading the anti-marijuana charge in the months-long heated debate.
The governor and the Republican Party of Florida have found a common bond with hemp companies that already sell high-potency cannabis to Floridians, at least when it comes to opposing the proposed <a href="https://www.benzinga.com/markets/cannabis/24/04/38034138/florida-supreme-court-approves-cannabis-legalization-proposal-for-november-election-in-blow-to-d">constitutional amendment</a>, known as Amendment 3, to legalize recreational marijuana in Florida.
According to a Miami Herald/Times <a href="https://www.miamiherald.com/news/politics-government/state-politics/article294313734.html">investigation</a>, the Republican Party of Florida and a political committee run by DeSantis' chief of staff have acquired donations from such businesses after the governor vetoed a bill in June that would have banned certain intoxicating hemp-derived products. That bill would have outlawed the sale of products containing delta-8 THC and limited the amount of delta-9 THC, both of which are unregulated and widely available, including to minors.
Following <a href="https://www.benzinga.com/markets/cannabis/24/06/39243424/desantis-vetoes-bill-that-would-regulate-intoxicating-hemp-in-lifeline-to-industry-as-he-bashes-">DeSantis&#8217;s veto</a>, hemp executives pledged up to $5 million in donations to the Republican Party in support of the governor's effort to <a href="https://www.benzinga.com/markets/cannabis/24/06/39311053/desantis-blasts-cannabis-legalization-amendment-says-people-will-be-able-to-bring-20-joints-to-a">defeat Amendment 3</a>, according to WhatsApp messages <a href="https://www.benzinga.com/markets/cannabis/24/07/39760907/ron-desantis-floridas-gop-and-hemp-industry-pile-on-to-defeat-marijuana-legalization">reviewed</a> by CBS News Miami in July.
The Herald/Times investigation also revealed that some hemp products from companies donating to DeSantis tested above the legal THC limit (0.3%) and contained unauthorized or banned pesticides.
Political contributions from these hemp businesses totaled over $500,000, with notable donations from companies whose products, which were tested by the Herald/Times, were found to exceed THC limits.
Matthew Curran, director of the state Department of Agriculture's Division of Food Safety said the Herald/Times' findings "appear to be consistent with what we regularly identify in our testing program." Since June 2023, over 1.1 million packages of hemp products on store shelves were found to violate the state law before being pulled, Curran added.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41656678/trump-harris-and-desantis-face-off-on-cannabis-legalization-in-florida-and-beyond">Trump, Harris And DeSantis Face Off On Cannabis Legalization In Florida And Beyond</a>
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.</li>
</ul>
<h2 class="wp-block-heading">Weed Legalization A Threat To Hemp Businesses</h2>
The unified front against <a href="https://www.benzinga.com/markets/cannabis/24/04/38034138/florida-supreme-court-approves-cannabis-legalization-proposal-for-november-election-in-blow-to-d">Amendment 3</a> argues the policy change would harm small businesses involved in the cultivation, distribution and sale of hemp statewide.
Meanwhile, with Trulieve Cannabis Corp. (CSE:<a class="ticker" href="https://www.benzinga.com/stock/TRUL#CSE">TRUL</a>) (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTCQX">TCNNF</a>) &#8211; which <a href="https://www.benzinga.com/markets/cannabis/23/10/35206042/trulieve-donates-500k-to-floridas-marijuana-legalization-ballot-initiative">donated</a> up to $130 million to the legalization campaign Smart &amp; Safe Florida&#8211; many hemp businesses say they have sustainability concerns if policy change is enacted.
"I don't have the tens of millions of dollars Trulieve has to fight this," said Patrick O'Brien, owner of Chronic Guru farms and dispensaries who gave $100,000 to a political committee run by DeSantis&#8217; chief of staff. "I got a grassroots company with over a hundred team members currently that I'm responsible for and I figured that I would partner up with the loudest voice in the room." 
DeSantis also argued legalization of recreational cannabis would be a threat to public health and would also <a href="https://www.benzinga.com/markets/cannabis/24/06/39346531/desantis-cant-get-past-the-odor-of-weed-to-smell-the-flowers-specifically-430m-annually-in-canna">make the Sunshine State smell like marijuana.</a>
The findings uncovered by the Herald/Times investigation are in line with national tensions between hemp and marijuana legalization efforts.
Recently, California Gov. <a href="http://m/topic/gavin-newsom">Gavin Newsom</a>‘s emergency ban on all hemp-derived THC products became official. The move halted the sale of hemp products, including popular items like hemp-THC beverages and medicinal CBD products, <a href="https://www.benzinga.com/markets/cannabis/24/09/41012794/gov-newsoms-hemp-ban-goes-into-effect-consequences-for-industry-investors-patients">throughout</a> the Golden State, where recreational cannabis has been legal for years.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/10/41634899/desantis-intensifies-aggressive-tactics-against-cannabis-and-abortion-amendments-as-election-loo">DeSantis Intensifies Aggressive Tactics Against Cannabis And Abortion Amendments As Election Looms</a></li>
</ul>

Regulations

CSE:TRUL

TRUL

Hemp Donations Fuel DeSantis And Florida GOP's Charge Against Weed Legalization, New Findings

Trulieve Cannabis (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>) is set to give its latest quarterly earnings report on Tuesday, 2024-11-05. Here's what investors need to know before the announcement.
Analysts estimate that Trulieve Cannabis will report an earnings per share (EPS) of $-0.10. 
Investors in Trulieve Cannabis are eagerly awaiting the company's announcement, hoping for news of surpassing estimates and positive guidance for the next quarter.
It's worth noting for new investors that stock prices can be heavily influenced by future projections rather than just past performance.
<h3>Performance in Previous Earnings</h3>
During the last quarter, the company reported an EPS beat by $0.09, leading to a 6.06% drop in the share price on the subsequent day.
Here's a look at Trulieve Cannabis's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>-0.09</td>
<td>-0.11</td>
<td>-0.16</td>
<td>-0.17</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0</td>
<td>-0.05</td>
<td>-0.12</td>
<td>-0.08</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-6.0%</td>
<td>5.0%</td>
<td>7.000000000000001%</td>
<td>8.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1730750484_0.png" alt="eps graph" />
<h3>Tracking Trulieve Cannabis's Stock Performance</h3>
Shares of Trulieve Cannabis were trading at $12.2772 as of November 01. Over the last 52-week period, shares are up 166.53%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/TCNNF/earnings">To track all earnings releases for Trulieve Cannabis visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insights into Trulieve Cannabis's Upcoming Earnings

Federal decisions on cannabis rescheduling and the SAFE Banking Act could reshape growth paths for multi-state operators (MSOs) and spark stock volatility across the industry. Meanwhile, states like Florida are considering recreational legalization, opening the door to substantial new revenue streams.
In his latest report, Pablo Zuanic, senior analyst at Zuanic &amp; Associates, examines the key trends driving the cannabis sector this quarter, including potential regulatory changes, challenges from rising dispensary saturation and price pressures affecting margins.
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can't afford to miss out if you&#8217;re serious about the business.</li>
</ul>
<h3 class="wp-block-heading">Pain Points: Cannabis Prices Are Compressing Margins</h3>
In Illinois, retail flower prices averaged $8.87 per gram in Q3, down 10% year-over-year, with wholesale prices stabilizing around $2,000 per pound. Massachusetts faced similar pricing pressures, with Q3 retail prices at $4.85 per gram, marking a significant 18% year-over-year decline.
Zuanic also<a href="https://www.benzinga.com/topic/pablo-zuanic"> reported</a> that Arizona saw the steepest retail price drop, with flower prices averaging $3.50 per gram, down 19% from last year.
The Q3 2024 report shows that declining cannabis prices are compressing margins, especially for non-vertically integrated operators who lack the cushion of internal supply chains. Companies with both cultivation and retail operations, like Green Thumb Industries (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTC">GTBIF</a>) and Curaleaf (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTC">CURLF</a>) are better positioned to withstand this price pressure by controlling production costs and capturing margins at multiple points in the supply chain.
<h3 class="wp-block-heading">A Crowded Pond</h3>
Florida led in dispensary expansion, reaching 679 stores by September, compared to 615 at the end of 2023.<a href="https://www.benzinga.com/topic/illinois-cannabis"> Illinois</a> experienced significant growth as well, with licensed dispensaries doubling to 232, though per-store revenue has declined. <a href="https://www.benzinga.com/topic/arizona-cannabis">Arizona</a>, while having lower store density, also grew its number of stores from 143 in early 2023 to 168, further impacting revenue per store.
The disparity in density highlights competitive pressures in markets like Florida and Illinois, benefiting established operators like Trulieve (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>) and Verano (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VRNOF#OTC">VRNOF</a>).
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41642661/edibles-surge-in-the-heartland-marimeds-play-for-missouri-and-illinois-cannabis-dominance">Edibles Surge In The Heartland: MariMed&#8217;s Play For Missouri And Illinois Cannabis Dominance</a>
<h3 class="wp-block-heading">Regulatory Landscape And Market Projections</h3>
Future growth is anticipated in <a href="https://www.benzinga.com/markets/cannabis/24/10/41608654/kentucky-and-delaware-held-cannabis-licensing-lotteries-ushering-in-new-regulated-markets">emerging medical markets</a> such as <a href="https://www.benzinga.com/topic/kentucky-cannabis">Kentucky</a> and <a href="https://www.benzinga.com/topic/nebraska-cannabis">Nebraska</a>, while Florida's potential shift to adult-use could drive significant revenue increases for in-state operators.
On a federal level, expected decisions on cannabis rescheduling and the SAFE Banking Act could impact stock volatility, offering potential gains for companies with balanced portfolios, such as Curaleaf and Trulieve. Zuanic <a href="https://zuanicgroup.com/">notes</a> that a favorable regulatory shift may benefit companies with stronger balance sheets, while those with high debt levels may face consolidation risks.
Several MSOs have smaller but growing presences across states, including AYR Wellness (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AYRWF#OTC">AYRWF</a>), which is <a href="https://www.benzinga.com/topic/massachusetts-cannabis">expanding in Massachusetts</a> and Planet 13 (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PLNHF#OTC">PLNHF</a>) as it focuses on its superstore concept in California and <a href="https://www.benzinga.com/topic/florida-cannabis">new entries in Florida</a>.
These smaller operators are actively navigating the challenges of expanding retail and pricing pressures, underscoring the importance of strategic positioning in high-density markets.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41613366/beyond-beer-tilrays-1-67-billion-market-play-is-this-cannabis-giant-still-a-smart-b">Beyond Beer, Tilray&#8217;s $1.67 Billion Market Play: Is This Cannabis Giant Still A Smart Buy?</a>

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PLNHF

VRNOF

With 200+ New Dispensaries And Four States Voting On Legalizing Cannabis, Could Market Expansion Squeeze Margins Further?

The U.S. heads into another historical election, the outcome of which will have an effect on cannabis stocks.
With both major candidates, Donald Trump and Kamala Harris, supporting cannabis reform, investors are closely watching the sector. These past few days, volatility has taken the stage as many have decided to take profits from the <a href="https://www.benzinga.com/markets/cannabis/24/10/41552613/cannabis-stocks-rally-canopy-aurora-sndl-organigram-and-others-see-gains">recent rally</a>.
However, Trump's recent <a href="https://www.benzinga.com/general/politics/24/10/41614533/market-expert-makes-2024-election-prediction-did-worlds-most-accurate-economist-pick-harris-or-t">rise in the polls</a> might be adding complexity, as the market legitimately questions whether his pro-cannabis stance is genuine or merely a strategic move to gain votes.
Let&#8217;s look at how major cannabis stocks are responding to this uncertain <a href="https://www.benzinga.com/markets/cannabis/24/09/41032299/cannabis-reform-on-the-horizon-but-lasting-change-requires-more-than-promises">political landscape</a>.
<h3 class="wp-block-heading">Trulieve Cannabis (TCNNF)</h3>
Trulieve (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>)&#8217;s stock saw a <a href="https://www.benzinga.com/markets/cannabis/24/10/41552613/cannabis-stocks-rally-canopy-aurora-sndl-organigram-and-others-see-gains">period of gains</a>, followed by a sharp drop in recent sessions, likely driven by profit-taking and election-related uncertainty. The volume spike in this downturn indicates strong selling interest. The bearish MACD signal underscores a cautious sentiment taking over.
<figure class="wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex"> 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="525" data-id="622609" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151556/TRLV-1024x525.png" alt="" class="wp-image-622609" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151556/TRLV-1024x525.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151556/TRLV-300x154.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151556/TRLV-768x394.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151556/TRLV-1536x787.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151556/TRLV.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure> 
</figure>
<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Chart created using Benzinga Pro</a>
<h3 class="wp-block-heading">AdvisorShares Pure Cannabis ETF (YOLO)</h3>
The AdvisorShares Pure Cannabis ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YOLO#NYSE">YOLO</a>), which represents a basket of cannabis companies, mirrors Trulieve's recent pattern, with a strong rise followed by a sharp decline. Increased volume on down days suggests that investors are tempering their optimism as the market appears hesitant to price in cannabis reform. The recent MACD crossover to bearish territory also reflects this hesitation.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="549" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151645/YOLO-1-1024x549.png" alt="" class="wp-image-622611" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151645/YOLO-1-1024x549.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151645/YOLO-1-300x161.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151645/YOLO-1-768x412.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151645/YOLO-1-1536x824.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151645/YOLO-1.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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<h3 class="wp-block-heading">AdvisorShares Pure US Cannabis ETF (MSOS)</h3>
The AdvisorShares Pure US Cannabis ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSOS#NYSE">MSOS</a>) representing U.S.-based cannabis companies, also saw a strong rally followed by a sharp decline. Increased volume on the downturn highlights investor skepticism. Again, the MACD turning bearish underscores a shift from optimism to caution.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="545" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151949/MSOS-1-1024x545.png" alt="" class="wp-image-622620" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151949/MSOS-1-1024x545.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151949/MSOS-1-300x160.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151949/MSOS-1-768x408.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151949/MSOS-1-1536x817.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151949/MSOS-1.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Chart created using Benzinga Pro</a>
<h3 class="wp-block-heading">Tilray Brands (TLRY)</h3>
Tilray (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>)&#8217;s stock has been relatively stable, showing a lack of strong momentum in either direction, which might just be consolidation. This range-bound movement normally reflects investor indecision as they wait for clearer signals. The stock is neutral regarding MACD and is building resistance around $1.65.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="539" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151656/TLRY-1-1024x539.png" alt="" class="wp-image-622612" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151656/TLRY-1-1024x539.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151656/TLRY-1-300x158.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151656/TLRY-1-768x404.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151656/TLRY-1-1536x809.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151656/TLRY-1.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Chart created using Benzinga Pro</a>
<h3 class="wp-block-heading">Ispire Technology (ISPR)</h3>
Ispire Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISPR#NASDAQ">ISPR</a>) is seeing a sustained downtrend with selling pressure intensifying as election day approaches. The increased volume on down days and the bearish MACD signal indicate slight investor pessimism.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="521" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151700/INPR-1-1024x521.png" alt="" class="wp-image-622613" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151700/INPR-1-1024x521.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151700/INPR-1-300x153.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151700/INPR-1-768x390.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151700/INPR-1-1536x781.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30151700/INPR-1.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can't afford to miss out if you&#8217;re serious about the business.</li>
</ul>
<h3 class="wp-block-heading">Scotts Miracle-Gro (SMG)</h3>
Scotts Miracle-Gro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMG#NYSE">SMG</a>) stands out with continued upward momentum and a bullish MACD, suggesting relative strength in the sector. Unlike more cannabis-focused stocks, Scotts' diversified product line provides a cushion and might be appealing to investors seeking stability.
It also speaks to the slight pessimism cannabis stocks are facing, which might be related to upcoming elections.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="622" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30182606/SCOTS-1024x622.png" alt="" class="wp-image-622876" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30182606/SCOTS-1024x622.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30182606/SCOTS-300x182.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30182606/SCOTS-768x467.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30182606/SCOTS-1536x934.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/30182606/SCOTS.png 1777w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Chart created using Benzinga Pro</a>
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41599546/canadas-cannabis-market-goes-cold-pot-prices-hit-bottom-why-top-producers-are-losin">Canada&#8217;s Cannabis Market Goes Cold, Pot Prices Hit Bottom: Why Top Producers Are Losing Ground</a>
<h3 class="wp-block-heading">Is The Market Pricing A Trump Victory?</h3>
If we considered the sentiment of a Trump victory, parting from his momentum in current polls, then we might push forward the following hypothesis: despite Trump's recent statements supporting cannabis rescheduling, market behavior is suggesting skepticism. The downward trends in recent rounds suggest a link between a Trump potential victory and investors&#8217; selling sentiments. Trump is still behind Harris in most polls but the gap is closing quickly.
While Trump's corporate tax cuts could benefit companies in general, one of the main problems cannabis companies face is<a href="https://www.benzinga.com/markets/cannabis/24/10/41318914/almost-every-major-cannabis-company-could-see-positive-cash-flow-if-280e-is-removed-in-2025"> 280-E</a>, a burden that will be taken out of the corporations&#8217; backs if cannabis is rescheduled. At this point, given the result of recent rounds, investors might be doubting Trump&#8217;s commitment to reform.
As the election day draws closer, cannabis stocks remain in a delicate balancing act, which investors would be wise to watch closely.
<ul>
<li>Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/10/41318914/almost-every-major-cannabis-company-could-see-positive-cash-flow-if-280e-is-removed-in-2025">Almost Every Major Cannabis Company Could See Positive Cash Flow If 280E Is Removed In 2025</a></li>
</ul>
Cover: AI-generated image

Technicals

ISPR

MSOS

TLRY

YOLO

Trump, Harris And Cannabis Stocks: Are Election Results Already Priced In?

Microsoft shares are trading higher after the company reported better-than-expected Q1 2025 GAAP EPS and sales.

The two proposed amendments to the Florida Constitution dealing with recreational marijuana legalization and abortion rights are close to passage, a Florida Atlantic University poll released Tuesday found, though both are <a href="https://www.benzinga.com/topic/florida">right on the edge</a>.
FAU's poll found 60% of voters favor the marijuana initiative, <a href="https://www.benzinga.com/markets/cannabis/24/04/38034138/florida-supreme-court-approves-cannabis-legalization-proposal-for-november-election-in-blow-to-d" target="_blank" rel="noreferrer noopener">Amendment 3</a> and <a href="https://www.cbsnews.com/miami/news/florida-amendment-4-abortion-2024-election-ballot-what-to-know/">Amendment 4</a>, which would enshrine abortion rights in the state Constitution, has the support of 58% of Florida voters, <a href="https://www.sun-sentinel.com/2024/10/29/fau-poll-finds-florida-abortion-marijuana-amendments-on-verge-of-enough-for-passage/?itm_source=parsely-api">reported</a> the Sun Sentinel.
<h2 class="wp-block-heading">DeSantis On The Warpath Against Both</h2>
Gov. Ron DeSantis is leading the opposition to both amendments in a series of last ditch and increasingly bitter campaign ads and speeches to rally the opposition, including spending state money on advertising opposing the amendments.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41564290/desantis-faces-backlash-for-using-opioid-settlement-funds-on-anti-cannabis-campaign" target="_blank" rel="noreferrer noopener">DeSantis Faces Backlash For Using Opioid Settlement Funds On Anti-Cannabis Campaign</a>
With DeSantis pulling out all the stops, which some view as an attempt to regain nationwide attention following his withdrawal from the presidential primary against former President <a href="https://www.benzinga.com/topic/donald-trump">Donald Trump</a>. Recent anti-cannabis ads went so far as <a href="https://www.benzinga.com/markets/cannabis/24/10/41411270/desantis-doubles-down-with-new-taxpayer-funded-anti-marijuana-ads-one-links-cannabis-to-domestic">to connect legal marijuana with domestic violence</a>.
"We have never seen a governor direct state agencies to aggressively oppose a ballot measure that has qualified for the ballot," <a href="https://theintercept.com/2024/10/29/florida-ron-desantis-election-amendments-abortion-marijuana/">said</a> Daniel Smith, a University of Florida political scientist who studies ballot initiatives.
Jason Garcia, investigative reporter at the Orlando Sentinel, says the state has racked up an estimated $19.3 million in bills, based on recent contracts and purchase orders as it dips into the budgets of state agencies to spread the anti-weed and anti-abortion message.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">With early voting underway, the DeSantis administration has ordered nearly $1 million more in taxpayer-funded advertising as it campaigns against Amendment 3 (legal marijuana) and Amendment 4 (abortion rights). The latest buy was made Oct. 24 through the Department of Health. <a href="https://t.co/dNAzgY5dx9">pic.twitter.com/dNAzgY5dx9</a>
&mdash; Jason Garcia (@Jason_Garcia) <a href="https://twitter.com/Jason_Garcia/status/1850903025197731899?ref_src=twsrc%5Etfw">October 28, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
<h2 class="wp-block-heading">Election Police Threaten Advocates And Petition Gatherers</h2>
DeSantis-led anti-abortion tactics, several outlets reported, have become disturbing for advocates.
Individuals who signed petitions have come forward saying they were questioned by law enforcement about the initiative. In the fall, the Florida Office of Election Crimes and Security opened over 40 investigations into petition gatherers who have been visited by plainclothes officers, <a href="https://www.miamiherald.com/news/politics-government/article292061625.html">according</a> to the Miami Herald. One was Isaac Menasche.
"I'm not a person who is going out there protesting for abortion," said Menasche, adding that the encounter, which occurred last week, left him shaken. "I just felt strongly and I took the opportunity when the person asked me, to say yeah, I'll sign that petition."
Meanwhile, CEO of Trulieve Cannabis Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>) Kim Rivers <a href="https://www.politico.com/news/2024/10/30/florida-marijuana-amendment-kim-rivers-00185366">told</a> Politico that the campaign for Amendment 3 was the natural outcome of a long battle to legalize marijuana in Florida.
"I think the tide of sentiment has shifted," Rivers said. "And I think that, candidly, Florida is ready for it."
Read Now: 
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/10/41589320/desantis-battles-149m-cannabis-legalization-push-in-floridas-fiercest-amendment-fight-yet">DeSantis Battles $149M Cannabis Legalization Push In Florida&#8217;s Fiercest Amendment Fight Yet</a></li>
</ul>
Photo: Shutterstock

DeSantis Intensifies Aggressive Tactics Against Cannabis And Abortion Amendments As Election Looms

Arizona will officially allow adult-use cannabis deliveries starting November 1, significantly expanding consumer access beyond <a href="http://benzinga.com/topic/medical-cannabis">medical marijuana</a> patients. Previously restricted to medical patients, this service will now cater to adults 21 and over, facilitated by the Arizona Department of Health Services (AZDHS).
The Arizona Dispensaries Association (ADA) announced the move on Tuesday, applauding AZDHS for their proactive steps in expediting the rollout. &#8220;We are thrilled that the Department of Health's proactive approach and commitment to implementing a well-thought-out delivery program has helped us reach this landmark moment sooner than expected,&#8221; said Ann Torrez, executive director of the ADA.
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.</li>
</ul>
<h3 class="wp-block-heading">Impact Of Arizona's Cannabis Delivery Expansion</h3>
This initiative places <a href="http://benzinga.com/topic/arizona-cannabis">Arizona</a> at the forefront of enhancing <a href="http://benzinga.com/cannabis">cannabis market</a> convenience well ahead of the original January 2025 deadline. The expansion of delivery services is expected to enhance consumer accessibility and convenience. Furthermore, industry experts anticipate positive impacts on <a href="https://www.benzinga.com/markets/cannabis/24/09/40804667/cannabis-hiring-platform-vangst-predicts-1m-full-time-marijuana-jobs-by-2029-announces-acquisiti">job creation</a>, economic development and <a href="https://www.benzinga.com/markets/cannabis/23/09/34985762/exclusive-unlocking-potential-of-ancillary-companies-in-cannabis-industry">ancillary businesses</a> such as technology, software and transportation.
Local dispensaries stand to gain from increased sales, while multi-state operators (MSOs) in Arizona, such as Curaleaf Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTC">CURLF</a>) and Trulieve Cannabis Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>), could capitalize on expanded consumer access and demand growth.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/06/39436487/urban-cannabis-delivery-experts-share-top-factors-behind-a-successful-operation-in-crowded-citie">Urban Cannabis Delivery: Key Strategies For Success In Big Cities</a>
<h3 class="wp-block-heading">Cannabis Delivery Rules Now Available Online</h3>
In addition to consumer benefits, the state has ensured that delivery services will adhere to rigorous safety and regulation standards. These measures aim to maintain the integrity of a highly regulated market while expanding services to a broader audience.
The final rules for both adult-use and medical marijuana programs are available on the AZDHS <a href="https://azdispensaries.org/members/">website</a>, ensuring transparency and regulatory compliance as the state navigates this pivotal expansion. As November 1 approaches, Arizona prepares to set a new precedent in its cannabis industry, promoting a safe and accessible market for adult users.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/10/41440423/medical-marijuana-dispensaries-near-preschools-in-arizona-court-of-appeals-says-yes">Medical Marijuana Dispensaries Near Preschools In Arizona? Court of Appeals Says Yes</a></li>
<li><a href="https://www.benzinga.com/markets/cannabis/24/10/41176745/drivers-cannot-be-penalized-for-cannabis-use-if-theyre-not-impaired-arizona-court-rules">Drivers Cannot Be Penalized For Cannabis Use If They&#8217;re Not Impaired, Arizona Court Rules</a></li>
</ul>
Image generated with AI tools.

Arizona To Launch Adult-Use Cannabis Deliveries Ahead Of Schedule

As the <a href="https://www.benzinga.com/topic/2024-election">Nov. 5 elections</a> loom, the struggle between Floridians who want legal recreational cannabis enshrined in their constitution via <a href="https://www.benzinga.com/markets/cannabis/24/04/38034138/florida-supreme-court-approves-cannabis-legalization-proposal-for-november-election-in-blow-to-d" target="_blank" rel="noreferrer noopener">Amendment 3</a> and those who don't has heated up to a near boiling point. 
With the state&#8217;s GOP Gov. <a href="https://www.benzinga.com/topic/ron-desantis" target="_blank" rel="noreferrer noopener">Ron DeSantis</a> leading the anti-marijuana charge on the one side and several organizations like <a href="https://www.benzinga.com/markets/cannabis/24/04/38313915/cannabis-in-florida-the-bellamy-brothers-tell-trulieve-ceo-we-rolled-a-fat-one-when-legalization" target="_blank" rel="noreferrer noopener">Smart &amp; Safe Florida</a> on the other, the manifestation of the hot debate has come down to nearly constant news coverage and paid TV ads. 
Whether true, false or wildly exaggerated, the airwaves are full. And when talking about campaign coverage, we're talking money, and lots of it.
Smart &amp; Safe has pulled in $148.77 million in cash and $953,000 in in-kind contributions as of this past Saturday making it the <a href="https://www.benzinga.com/markets/cannabis/24/06/39565658/desantis-anti-cannabis-florida-freedom-fund-raises-barely-a-fraction-of-legalization-committees-">best-funded cannabis legalization</a> initiative in US history.
Thanks to Trulieve Cannabis Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>), which threw in another $28 million last week adding to its previous nearly $110 million, the well-healed pro-legalization campaign is far outspending its anti-marijuana opponents.
<h1 class="wp-block-heading">Team DeSantis Now Using State Money For Cannabis Campaign</h1>
Though the DeSantis-led opposition has gathered far less in its quest to convince Floridians not legalize marijuana, he holds the being-in-power advantage and has begun to use it. Several times over the past several months the governor's anti-Amendment 3 campaign has dipped into public money to shore up its finances. 
In one instance, the Florida Department of Transportation (DOT) <a href="https://www.benzinga.com/markets/cannabis/24/09/41036799/desantis-provokes-outrage-over-taxpayer-funded-ads-linking-marijuana-legalization-to-car-crashes">ran an ad </a>warning against the dangers of driving under the influence of cannabis, saying. &#8220;DUI crashes increase in states with legalized marijuana, putting everyone at risk.&#8221; Another DOT-sponsored ad featured a local sheriff who equated cannabis with domestic abuse, an unproven assumption.
A more recent outcry over misused funds <a href="https://www.benzinga.com/markets/cannabis/24/10/41564290/desantis-faces-backlash-for-using-opioid-settlement-funds-on-anti-cannabis-campaign">came last Friday</a> when the Department of Children and Families spent $4 million of the state's <a href="https://www.benzinga.com/news/large-cap/24/09/40694838/opioid-settlement-drug-distributors-mckesson-cencora-cardinal-health-to-pay-300m-to-health-insurer" target="_blank" rel="noreferrer noopener">opioid settlement</a>&nbsp;trust fund, which is meant to &#8220;abate the opioid epidemic&#8221; and provide resources for affected communities. &nbsp;&nbsp;
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41582660/stakes-are-high-for-nebraskas-medical-marijuana-families-why-theyre-pushing-for-cannabis-legaliz">Stakes Are High For Nebraska&#8217;s Medical Marijuana Families: Why They&#8217;re Pushing For Cannabis Legalization</a>
<h1 class="wp-block-heading">DeSantis Takes His Case To The People</h1>
As part of a media blitz around Florida involving press appearances and town halls, DeSantis even appealed to cannabis supporters on one occasion, <a href="https://floridaphoenix.com/2024/10/24/concerned-about-cannabis-measure-desantis-lobs-charges-vs-amendment-3/">reported</a> Florida Phoenix, arguing that if the legalization initiative passes, it won&#8217;t help them, but instead would only boost the fortunes of one particular marijuana company. (Hint: Trulieve)
"If you're against marijuana use generally, this is an easy no, right?" the governor said Thursday at Grace Baptist Church in Cape Coral. "But even if you're somebody who is more open to it, this is the last way that you would want to go about doing it."
He said the amendment was written, "to benefit this one big weed company. It is not meant to benefit you. It is not meant to benefit the state."
Now Read:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/10/41564290/desantis-faces-backlash-for-using-opioid-settlement-funds-on-anti-cannabis-campaign">DeSantis Faces Backlash For Using Opioid Settlement Funds On Anti-Cannabis Campaign</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

DeSantis Battles $149M Cannabis Legalization Push In Florida's Fiercest Amendment Fight Yet

With Florida's recreational cannabis vote looming, Pablo Zuanic of <a href="https://zuanicgroup.com/">Zuanic &amp; Associates</a> anticipates a high-stakes shakeup in the state's cannabis market. His latest analysis reveals a volatile mix of market deflation, rapid retail expansion and an active M&amp;A landscape as key companies position themselves to capitalize on post-election shifts.
For operators ready to seize these dynamics, the coming months following the on November 5 elections could bring significant growth opportunities&#8230;or intensified competition.
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can't afford to miss out if you&#8217;re serious about the business.</li>
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<h3 class="wp-block-heading">Market Deflation As Sales Drop Despite Volume Growth</h3>
According to Zuanic, Florida's medical marijuana (MMJ) market is experiencing a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41132320/slipping-weed-sales-in-floridas-market-is-this-100m-bet-really-worth-the-hype">deflationary trend</a>. Q3 2024 sales were reported at $418 million—a 13% year-over-year drop, despite a 13% growth in flower volume and 6% in non-flower products reported by the Office of Medical Marijuana Use (OMMU).
This volume-sales disconnect points to a 23% year-over-year price decline, reflecting a more competitive landscape. "Price declines show that <a href="https://www.benzinga.com/topic/florida-cannabis">Florida's cannabis market</a> faces intense pressures," Zuanic noted.
<h3 class="wp-block-heading">Expanded Retail With Varying Store Productivity</h3>
The state's <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40462531/legal-weed-in-florida-why-planet-13-is-doubling-down-on-a-225m-bet-before-2026">dispensary count</a> reached 690 in October, up from 615 in 2023. Trulieve (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>) leads with 155 stores, followed by Verano (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VRNOF#OTC">VRNOF</a>) (79) and AYR (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AYRWF#OTC">AYRWF</a>) (67).
Yet, store productivity differs significantly: Trulieve averages 4.06 ounces of flower and 9.71 million mg of non-flower sales per store quarterly, well above the industry average excluding Trulieve. Meanwhile, Verano and Curaleaf (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTC">CURLF</a>) post lower figures, lagging notably in both flower and non-flower productivity per store.
<h3 class="wp-block-heading">Diverging Operator Growth And Market Dynamics</h3>
Florida's<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38470560/landing-in-floridas-cannabis-market-legal-adult-use-marijuana-could-yield-874m-in-2"> operators</a> have followed diverse growth paths. Smaller players like Sunburn and Green Dragon have seen remarkable growth &#8211; 903% and 605% increases in flower volumes over two years, respectively.
In non-flower sales, Green Dragon expanded by 1,500%, while Sanctuary grew by 576%.
Conversely, Cannabist (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CBSTF#OTC">CBSTF</a>) and iAnthus (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ITHUF#OTC">ITHUF</a>) reported declines in volume, with flower sales dropping 22% and 36%, respectively. "These disparities reveal how strategies differ between new and established players,"<a href="https://www.benzinga.com/topic/pablo-zuanic"> Zuanic </a>observed.
Read Also:<a href="https://www.benzinga.com/general/biotech/24/10/41554695/exclusive-why-good-weed-and-good-friends-wont-cut-it-any-more-cannabis-industry-embraces-ai-autom"> EXCLUSIVE: Why &#8216;Good Weed And Good Friends&#8217; Won&#8217;t Cut It Any More—Cannabis Industry Embraces AI, Automation, Data To Survive</a>
<h3 class="wp-block-heading">M&amp;A Landscape: Potential Buyers, Sellers, Strategic Realignments</h3>
Florida's cannabis sector is primed for M&amp;A activity, with some operators facing financial challenges and others expanding strategically.
Zuanic identifies AYR and iAnthus as likely sellers, citing "stretched balance sheets" that could position them as acquisition targets. Cannabist has already <a href="https://www.benzinga.com/markets/cannabis/24/08/40534012/16-4m-asset-sale-marks-the-cannabist-companys-florida-exit-in-streamlining-effort">sold its Florida assets</a> to a joint venture between MINT Cannabist and Shango.
For potential buyers, Green Thumb (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTC">GTBIF</a>), Curaleaf and Cresco are well-capitalized to acquire distressed or underperforming assets in the state.
SNDL's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNDL#NASDAQ">SNDL</a>) recent acquisition of Surterra suggests it will maintain its Florida operations, while Sunburn's owner, who previously <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40779975/is-cresco-labs-an-overlooked-cannabis-stock-market-potential-in-ohio-florida-pennsy">sold a business to Cresco</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CRLBF#OTC">CRLBF</a>) before re-entering through MedMen's<a href="https://www.benzinga.com/topic/florida-cannabis"> Florida </a>assets, may continue expanding or divest strategically.
"If recreational sales are legalized, M&amp;A could further accelerate as financial pressures reshape the market," <a href="https://www.benzinga.com/topic/pablo-zuanic">Zuanic</a> noted.
<h3 class="wp-block-heading">Projected Upside</h3>
If recreational cannabis is legalized, Zuanic projects the market could triple, reaching $6 billion. Cansortium could see an estimated 700% increase in market cap, with iAnthus and AYR potentially gaining 360% and 270%, respectively.
His methodology applies a 30% EBITDA margin and an 8x EV/EBITDA multiple to estimate value creation in a recreational market scenario. While the potential upside is promising, Zuanic advises caution, noting uncertainties around future regulations.
Changes in licensing or lobbying efforts from hemp advocates could impact the market's growth trajectory. "Florida presents substantial opportunities, but investors should remain vigilant," Zuanic concluded.
Read Next:<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41299623/why-cannabis-investors-should-make-this-bold-move-before-floridas-vote-what-to-buy-"> Why Cannabis Investors Should Make This Bold Move Before Florida&#8217;s Vote: What To Buy And Sell Now</a>

Guidance

THE CANNABIST CO HLDG by THE CANNABIST COMPANY HOLDINGS INC.

CBSTF

M&A Frenzy And Deflation Post-Election: Which Companies Are Ready To Win Big In Florida's Cannabis Market

In Zuanic &amp; Associates' latest equity report, senior analyst Pablo Zuanic analyzes MariMed's (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MRMD#OTC">MRMD</a>) performance across its core markets, with Illinois (IL) accounting for 40-45% of the company's sales.&nbsp;
Despite overall market stagnation, MariMed aims to boost growth through capacity expansion, including a new 14,000 sq ft cultivation site expected to begin sales by early 2025.&nbsp;
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can't afford to miss out if you&#8217;re serious about the business.</li>
</ul>
<h3 class="wp-block-heading">Q3</h3>
In Q3, Illinois' cannabis sales reached $496 million, with 86% from recreational use. However, per capita spending remains at $160, lower than in states like <a href="https://www.benzinga.com/topic/arizona-cannabis">Arizona</a> ($178) and <a href="https://www.benzinga.com/topic/michigan-cannabis">Michigan</a> ($320). Retail flower prices fell 10% year-over-year to $8.87 per gram, and per-store revenue dropped from $17 million to $8.8 million annually.
"The <a href="https://www.benzinga.com/topic/illinois-cannabis">Illinois market </a>remains attractive due to high wholesale prices, but growth challenges persist, particularly for retailers without cultivation operations," Zuanic said. Despite these challenges, MariMed's in-house brands, launched in January 2024, performed well, generating $7.7 million in Q3, with vape sales leading at $4.9 million. Competitors like Green Thumb Industries (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTC">GTBIF</a>), Curaleaf (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTC">CURLF</a>), and Cresco Labs (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CRLBF#OTC">CRLBF</a>) also maintain strong positions in the Illinois market.
Read Also:<a href="https://www.benzinga.com/markets/cannabis/24/10/41318914/almost-every-major-cannabis-company-could-see-positive-cash-flow-if-280e-is-removed-in-2025">&nbsp;Almost Every Major Cannabis Company Could See Positive Cash Flow If 280E Is Removed In 2025</a>
<h3 class="wp-block-heading">MariMed's Playbook: Maryland, Massachusetts, Ohio&nbsp;&nbsp;&nbsp;</h3>
MariMed's operations in <a href="https://www.benzinga.com/topic/maryland-cannabis">Maryland</a> continue to expand, contributing $292 million in Q3, an 8% year-over-year increase. Per capita consumption reached $192, exceeding figures in Illinois, <a href="https://www.benzinga.com/topic/new-jersey-cannabis">New Jersey</a>, and <a href="https://www.benzinga.com/topic/connecticut-cannabis">Connecticut</a>. Maryland's retail flower prices averaged $8.62 per gram, providing better margins for retailers compared to Illinois.&nbsp;
Conversely, Massachusetts faced deflationary pressures, with retail flower prices falling 18% year-over-year to $4.85 per gram. This led to a 17% decline in MariMed's branded sales in Q3, even though the market grew by 1%.
In Maryland, MariMed's Betty's <a href="https://www.benzinga.com/topic/cannabis-marketing">brand led the edibles segment </a>with an 11.3% market share, while in Massachusetts, branded products like Nature's Heritage flower saw a sales decline. &#8220;The state regulator has issued 101 store licenses. Average annualized revenue per store of $11.6Mn is among the best in the US, and now above that of Illinois. We calculate gross margins at >46%, so this means >$5.3Mn gross profit per store. Companies with vertical operations like MariMed are in a strong position to benefit both from grower margins as well as retailer margins,&#8221; Zuanic wrote. Meanwhile, competitors such as Trulieve (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>) continue to<a href="https://www.benzinga.com/markets/cannabis/24/03/37462514/from-ground-up-trulieve-ceos-blueprint-for-cannabis-dominance"> expand their footprint</a> across Maryland's market.
<a href="https://www.benzinga.com/topic/ohio-cannabis">Ohio's recreational market</a> is experiencing different pricing dynamics. Flower prices increased from $5.84 per gram in Q4 2023 to $8.62 per gram in Q3 2024, contrasting with price drops in Illinois and <a href="https://www.benzinga.com/topic/massachussetts-cannabis">Massachusetts</a>, underscoring the varied maturation of cannabis markets across states.
Read Also:<a href="https://www.benzinga.com/markets/cannabis/24/10/41317886/exclusive-emotional-connection-with-consumers-is-secret-sauce-for-any-brand-to-prosper-its-same-">&nbsp;EXCLUSIVE: Emotional Connection With Consumers Is Secret Sauce For Any Brand To Prosper, It&#8217;s Same With Cannabis, Experts Say</a>
<h3 class="wp-block-heading">Valuation And Stock Performance</h3>
MariMed's valuation continues to be a focal point, trading at 1x CY24 sales compared to the multi-state operator (MSO) average of 1.9x. According to <a href="https://www.benzinga.com/topic/pablo-zuanic">Zuanic</a>, over the past year, MariMed&#8217;s stock underperformed (-52%) relative to the MSOS ETF (+21%).&nbsp;
However, in the last month, MariMed gained +4%, while the MSOS ETF rose +18%. Zuanic notes, "We believe the discount is overdone," emphasizing the company's strong balance sheet and growth potential.
Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/10/41502695/exclusive-tilray-ceo-irwin-simon-on-why-us-cannabis-rescheduling-wont-change-a-billion-dollar-pl">EXCLUSIVE: Tilray CEO Irwin Simon On Why US Cannabis Rescheduling Won&#8217;t Change A Billion-Dollar Play</a>

Management

Interview

Can MariMed's $7.7M Illinois Cannabis Expansion Turn The Tide In A $496M Market?

<h3>GAINERS:</h3>
<ul>
<li><a href="https://www.benzinga.com/quote/LBUY">Leafbuyer Techs</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LBUY#OTC">LBUY</a>) shares closed up 400.00% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/OILFF">Nextleaf Solutions</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/OILFF#OTC">OILFF</a>) shares closed up 9.96% at $0.06</li>
<li><a href="https://www.benzinga.com/quote/ZDPY">Zoned Properties</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ZDPY#OTC">ZDPY</a>) shares closed up 5.87% at $0.54</li>
<li><a href="https://www.benzinga.com/quote/EAST">Eastside Distilling</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EAST#NASDAQ">EAST</a>) shares closed up 5.18% at $0.62</li>
<li><a href="https://www.benzinga.com/quote/CWBHF">Charlottes Web Holdings</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CWBHF#OTC">CWBHF</a>) shares closed up 3.85% at $0.14</li>
<li><a href="https://www.benzinga.com/quote/NWVCF">EnWave</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NWVCF#OTC">NWVCF</a>) shares closed up 3.45% at $0.18</li>
</ul>
<h3>LOSERS:</h3>
<ul>
<li><a href="https://www.benzinga.com/quote/GNLN">Greenlane Hldgs</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GNLN#NASDAQ">GNLN</a>) shares closed down 32.56% at $2.25</li>
<li><a href="https://www.benzinga.com/quote/LMLLF">Pharmadrug</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LMLLF#OTC">LMLLF</a>) shares closed down 21.05% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/LVRLF">CordovaCann</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LVRLF#OTC">LVRLF</a>) shares closed down 15.80% at $0.04</li>
<li><a href="https://www.benzinga.com/quote/RMHB">Rocky Mountain High</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RMHB#OTC">RMHB</a>) shares closed down 14.29% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/XXII">22nd Century Group</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XXII#NASDAQ">XXII</a>) shares closed down 13.11% at $0.11</li>
<li><a href="https://www.benzinga.com/quote/CBDY">Target Group</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CBDY#OTC">CBDY</a>) shares closed down 7.69% at $0.00</li>
<li><a href="https://www.benzinga.com/quote/ELLXF">Elixinol Wellness</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ELLXF#OTC">ELLXF</a>) shares closed down 6.78% at $0.00</li>
<li><a href="https://www.benzinga.com/quote/ITHUF">iAnthus Capital Hldgs</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ITHUF#OTC">ITHUF</a>) shares closed down 6.32% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/UGRO">Urban-gro</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UGRO#NASDAQ">UGRO</a>) shares closed down 6.02% at $1.58</li>
<li><a href="https://www.benzinga.com/quote/CNBX">CNBX Pharmaceuticals</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CNBX#OTC">CNBX</a>) shares closed down 5.83% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/SOLCF">SOL Glb Inv</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SOLCF#OTC">SOLCF</a>) shares closed down 5.49% at $0.03</li>
<li><a href="https://www.benzinga.com/quote/GTBIF">Green Thumb Industries</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTC">GTBIF</a>) shares closed down 4.72% at $10.94</li>
<li><a href="https://www.benzinga.com/quote/BMMJ">Body and Mind</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMMJ#OTC">BMMJ</a>) shares closed down 4.35% at $0.02</li>
<li><a href="https://www.benzinga.com/quote/TCNNF">Trulieve Cannabis</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>) shares closed down 4.04% at $13.13</li>
<li><a href="https://www.benzinga.com/quote/MRMD">MariMed</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MRMD#OTC">MRMD</a>) shares closed down 3.85% at $0.16</li>
<li><a href="https://www.benzinga.com/quote/CARA">Cara Therapeutics</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CARA#NASDAQ">CARA</a>) shares closed down 3.76% at $0.25</li>
<li><a href="https://www.benzinga.com/quote/CVSI">CV Sciences</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CVSI#OTC">CVSI</a>) shares closed down 3.75% at $0.05</li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Movers

CARA

EAST

RMHB

SOLCF

UGRO

XXII

ZDPY

Cannabis Stock Movers For October 24, 2024

With less than two weeks to the <a href="https://www.benzinga.com/topic/election-day">ballot vote</a>, the debate around Florida's<a href="https://www.benzinga.com/markets/cannabis/24/10/41405555/floridas-cannabis-amendment-record-spending-unlikely-alliances-and-criticism-from-the-catholic-c"> Amendment 3 </a>is heating up. Trulieve Cannabis Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>) CEO Kim Rivers came out swinging in an appearance on a WESH2 <a href="https://www.wesh.com/article/trulieve-ceo-anti-amendment-3-recreational-cannabis-ads-distortions/62684977">news report</a> in which she described the anti-cannabis ads running throughout the state as &#8220;distortions.&#8221;
Rivers has taken issue with the portrayal of Amendment 3 in <a href="https://www.benzinga.com/markets/cannabis/24/10/41405555/floridas-cannabis-amendment-record-spending-unlikely-alliances-and-criticism-from-the-catholic-c">political ads</a> that claim the measure would create a cannabis monopoly in the state. 
&#8220;The economic door to prosperity would be open to many,&#8221; Rivers stated, dismissing the suggestion that the amendment would only benefit large corporations like Trulieve. 
The initiative, she argues, is about broadening opportunities in an industry projected for <a href="https://www.benzinga.com/markets/cannabis/24/10/41335229/cannabis-industrys-130b-growth-potential-top-states-for-investment-as-financial-institutions-set">explosive growth</a>.
During a recent visit to one of Trulieve's 155 <a href="https://www.google.com/url?sa=t&amp;source=web&amp;rct=j&amp;opi=89978449&amp;url=https://www.benzinga.com/markets/cannabis/24/07/39871979/floridas-medical-cannabis-market-sees-explosive-growth-ahead-of-november-legalization-ballot&amp;ved=2ahUKEwimgou_-qSJAxWrrJUCHULWIkgQFnoECBkQAQ&amp;usg=AOvVaw0aYsig6m9Yhjuv_bk1bdHr">dispensaries</a>, Rivers spoke to employees about the significance of the amendment, which would legalize recreational cannabis for adults over 21.
<h3 class="wp-block-heading">Addressing Child Safety Concerns</h3>
One of the central points of contention in the opposition's campaign is the claim that legalizing cannabis will expose children to products packaged to resemble candy. Rivers has been vocal in rebutting these assertions.
 &#8220;These are adult products, packaged for adults, sold to adults,&#8221; she said. 
Rivers explained that recreational cannabis, like medical marijuana, would adhere to strict packaging guidelines designed to prevent any appeal to children.
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can't afford to miss out if you&#8217;re serious about the business.</li>
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Her point was reinforced by Trulieve Medical Director Dr. Terel Newton, who added, &#8220;You won't see bright colors, animals, or neon packaging that would attract kids.&#8221;
According to Rivers, these types of regulations would continue under an adult-use program, ensuring that products are marketed responsibly.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41365515/ron-desantis-pregnant-pigs-and-floridas-cannabis-legalization-battle-over-constitutional-amendme">Ron DeSantis, Pregnant Pigs And Florida&#8217;s Cannabis Legalization: Battle Over Constitutional Amendment Rages</a>
<h3 class="wp-block-heading">Fear Vs Facts</h3>
For Rivers, the campaign against Amendment 3 is built on fear rather than facts.
&#8220;And I would fully expect and anticipate that those laws and those restrictions will continue in the state of Florida with the adult use program,&#8221; she told the WESH reporter. I think it is really critical for folks to understand what this is and what this is not.&#8221; 
The fight against misleading ads and scary tactics in Florida had another <a href="https://www.benzinga.com/markets/cannabis/24/10/41411270/desantis-doubles-down-with-new-taxpayer-funded-anti-marijuana-ads-one-links-cannabis-to-domestic">recent episode</a> when Gov. Ron DeSantis leveraged the Florida Department of Education to fund a new ad campaign warning against cannabis. 
<ul>
<li>Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/10/41303141/fact-check-desantis-why-floridas-weed-legalization-does-not-mean-smoking-in-schools">Fact-Check DeSantis: Why Florida&#8217;s Weed Legalization Does Not Mean Smoking In Schools</a></li>
</ul>
Cover: Photo by <a href="https://pixabay.com/es/users/jessica45-2055892/?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=1409763">jessica45</a> in <a href="https://pixabay.com/es//?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=1409763">Pixabay</a>

Trulieve CEO Kim Rivers Calls Out 'Distortions' In Ads Opposing Florida's Cannabis Amendment

<h3>GAINERS:</h3>
<ul>
<li><a href="https://www.benzinga.com/quote/CLSH">CLS Holdings USA</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CLSH#OTC">CLSH</a>) shares closed up 61.29% at $0.06</li>
<li><a href="https://www.benzinga.com/quote/SOLCF">SOL Glb Inv</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SOLCF#OTC">SOLCF</a>) shares closed up 38.16% at $0.04</li>
<li><a href="https://www.benzinga.com/quote/RMHB">Rocky Mountain High</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RMHB#OTC">RMHB</a>) shares closed up 20.00% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/BBRRF">Blueberries Medical</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BBRRF#OTC">BBRRF</a>) shares closed up 17.86% at $0.02</li>
<li><a href="https://www.benzinga.com/quote/CGC">Canopy Gwth</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) shares closed up 14.29% at $4.98</li>
<li><a href="https://www.benzinga.com/quote/CURLF">Curaleaf Holdings</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTC">CURLF</a>) shares closed up 13.24% at $3.55</li>
<li><a href="https://www.benzinga.com/quote/XXII">22nd Century Group</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XXII#NASDAQ">XXII</a>) shares closed up 12.57% at $0.12</li>
<li><a href="https://www.benzinga.com/quote/CURR">Currenc Group</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CURR#NASDAQ">CURR</a>) shares closed up 12.38% at $2.25</li>
<li><a href="https://www.benzinga.com/quote/ACB">Aurora Cannabis</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACB#NASDAQ">ACB</a>) shares closed up 9.80% at $6.10</li>
<li><a href="https://www.benzinga.com/quote/CRLBF">Cresco Labs</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CRLBF#OTC">CRLBF</a>) shares closed up 8.97% at $1.70</li>
<li><a href="https://www.benzinga.com/quote/CNTMF">Cansortium</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CNTMF#OTC">CNTMF</a>) shares closed up 7.97% at $0.16</li>
<li><a href="https://www.benzinga.com/quote/GTBIF">Green Thumb Industries</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTC">GTBIF</a>) shares closed up 7.97% at $11.11</li>
<li><a href="https://www.benzinga.com/quote/TLRY">Tilray Brands</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) shares closed up 7.61% at $1.71</li>
<li><a href="https://www.benzinga.com/quote/TCNNF">Trulieve Cannabis</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>) shares closed up 7.47% at $13.30</li>
<li><a href="https://www.benzinga.com/quote/CXXIF">C21 Investments</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CXXIF#OTC">CXXIF</a>) shares closed up 7.39% at $0.25</li>
<li><a href="https://www.benzinga.com/quote/SNDL">SNDL</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNDL#NASDAQ">SNDL</a>) shares closed up 6.47% at $2.15</li>
<li><a href="https://www.benzinga.com/quote/CBWTF">Auxly Cannabis Group</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CBWTF#OTC">CBWTF</a>) shares closed up 5.42% at $0.04</li>
<li><a href="https://www.benzinga.com/quote/CRON">Cronos Group</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRON#NASDAQ">CRON</a>) shares closed up 4.23% at $2.29</li>
<li><a href="https://www.benzinga.com/quote/MRMD">MariMed</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MRMD#OTC">MRMD</a>) shares closed up 3.43% at $0.17</li>
<li><a href="https://www.benzinga.com/quote/CARA">Cara Therapeutics</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CARA#NASDAQ">CARA</a>) shares closed up 3.16% at $0.27</li>
</ul>
<h3>LOSERS:</h3>
<ul>
<li><a href="https://www.benzinga.com/quote/GEATF">Radiko Holdings</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GEATF#OTC">GEATF</a>) shares closed down 90.00% at $1e-06</li>
<li><a href="https://www.benzinga.com/quote/BMMJ">Body and Mind</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BMMJ#OTC">BMMJ</a>) shares closed down 20.11% at $0.02</li>
<li><a href="https://www.benzinga.com/quote/UGRO">Urban-gro</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UGRO#NASDAQ">UGRO</a>) shares closed down 15.22% at $1.62</li>
<li><a href="https://www.benzinga.com/quote/RSSFF">Affinor Growers</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RSSFF#OTC">RSSFF</a>) shares closed down 12.52% at $0.05</li>
<li><a href="https://www.benzinga.com/quote/LMLLF">Pharmadrug</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LMLLF#OTC">LMLLF</a>) shares closed down 9.89% at $0.02</li>
<li><a href="https://www.benzinga.com/quote/ELLXF">Elixinol Wellness</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ELLXF#OTC">ELLXF</a>) shares closed down 7.69% at $0.00</li>
<li><a href="https://www.benzinga.com/quote/CVSI">CV Sciences</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CVSI#OTC">CVSI</a>) shares closed down 7.22% at $0.04</li>
<li><a href="https://www.benzinga.com/quote/OILFF">Nextleaf Solutions</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/OILFF#OTC">OILFF</a>) shares closed down 6.14% at $0.06</li>
<li><a href="https://www.benzinga.com/quote/CNBX">CNBX Pharmaceuticals</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CNBX#OTC">CNBX</a>) shares closed down 5.58% at $0.01</li>
<li><a href="https://www.benzinga.com/quote/ZDPY">Zoned Properties</a> (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ZDPY#OTC">ZDPY</a>) shares closed down 3.69% at $0.52</li>
<li><a href="https://www.benzinga.com/quote/SMG">Scotts Miracle Gro</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMG#NYSE">SMG</a>) shares closed down 3.44% at $86.75</li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

GEATF

RSSFF

Marijuana Stock Movers For October 22, 2024

Cannabis Stock Movers For October 22, 2024

Florida Gov. <a href="https://www.benzinga.com/topic/ron-desantis" target="_blank" rel="noreferrer noopener">Ron DeSantis</a> (R) is in a high-stakes political battle against yet another political ally, <a href="https://www.benzinga.com/markets/cannabis/23/09/34745991/ron-desantis-anti-pot-stance-clashes-with-top-supporter-pushing-for-legalization-of-recreational">Jeff Roe</a>, over the ballot initiative to legalize recreational marijuana, known as Amendment 3. 
Roe, a well-known GOP operative, ran the super PAC supporting DeSantis' <a href="https://www.benzinga.com/news/23/07/33124553/trump-desantis-2024-ticket-could-pave-path-to-presidency-for-desantis-says-political-strategist" target="_blank" rel="noreferrer noopener">2024 presidential bid</a>. At the time, former President <a href="https://www.benzinga.com/topic/donald-trump">Donald Trump</a> told Republican candidates not to hire Roe or his consulting firm Axiom.
But now, as <a href="https://www.benzinga.com/markets/cannabis/24/08/40666944/donald-trump-supports-cannabis-legalization-in-florida-game-changer-and-huge-blow-to-ron-desanti">Trump is on the other side </a>of DeSantis' battle to defeat Amendment 3, Roe has moved into the legalization camp and is working to pass the marijuana initiative, which will appear on the ballot in the&nbsp;<a href="https://www.benzinga.com/topic/2024-election" target="_blank" rel="noreferrer noopener">November 2024 election</a>.
<h1 class="wp-block-heading">Does DeSantis&#8217; Political Future Hinge On The Cannabis Issue?</h1>
DeSantis invested considerable political resources to block the cannabis initiative as well as another ballot measure that would overturn Florida's six-week abortion ban, <a href="https://www.nbcnews.com/politics/2024-election/ron-desantis-battles-jeff-roe-stop-marijuana-legalization-florida-rcna175229">noted</a> an NBC report which looked closely at the DeSantis-Roe row.
DeSantis' opposition to these measures stems not only from ideological beliefs but also from political calculations. Both the marijuana and abortion measures have the potential to reshape the state's legal and cultural landscape, potentially undercutting DeSantis' conservative legislative achievements.
The governor's allies acknowledge the uphill battle as the pro-legalization campaign group Smart and Safe Florida has amassed over $100 million in support of the amendment, with the help of Trulieve Cannabis Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>).
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41405555/floridas-cannabis-amendment-record-spending-unlikely-alliances-and-criticism-from-the-catholic-c">Florida&#8217;s Cannabis Amendment: Record Spending, Unlikely Alliances, And Criticism From The Catholic Church</a>
<h1 class="wp-block-heading">New Poll: Cannabis Legalization Is Looking Like A Shoo-In</h1>
Meanwhile, a new poll from the University of North Florida's Public Opinion Research showed support for Amendment 3 remained level over the past year with roughly two in three Florida voters planning to vote in favor of it, <a href="https://floridapolitics.com/archives/702681-new-poll-shows-florida-voters-um-high-on-legalizing-recreational-pot/">reported</a> Florida Politics on Monday.
In keeping with Florida law, an amendment requires 60% of the vote to pass and become part of the state constitution. Even taking into account the poll's 3.49-percentage-point margin of error, notes the outlet, the numbers show Amendment 3 on a smooth ride to passage.
"After years of polling on marijuana in Florida, both medical and recreational, it is clear that the majority is in favor of legalization," said Dr. Michael Binder, PORL faculty director at UNF.
Now Read:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/10/41411270/desantis-doubles-down-with-new-taxpayer-funded-anti-marijuana-ads-one-links-cannabis-to-domestic">DeSantis Doubles Down With New Taxpayer-Funded Anti-Marijuana Ads, One Links Cannabis To Domestic Violence</a></li>
</ul>
Photo: Benzinga edit with photo by&nbsp;<a href="https://www.flickr.com/people/22007612@N05" target="_blank" rel="noreferrer noopener">Gage Skidmore</a>&nbsp;of&nbsp;<a href="https://www.flickr.com/photos/gageskidmore/53299142646/" target="_blank" rel="noreferrer noopener">Ron DeSantis</a>&nbsp;via Wikimedia Commons; photo by&nbsp;<a href="https://unsplash.com/@joseluissp_ph" target="_blank" rel="noreferrer noopener">Jose Luis Sanchez Pereyra</a>&nbsp;via Unsplash

DeSantis Battles Former Allies Donald Trump, Jeff Roe Over Florida's Cannabis Legalization Push

Marijuana rescheduling hearing reportedly delayed

Here's the major earnings before the open tomorrow

Trulieve Cannabis gives mixed Q3 results

Trulieve Cannabis Corp. 2024 Q3 - Results - Earnings Call Presentation

Trulieve Cannabis Corp. (TCNNF) Q3 2024 Earnings Call Transcript

Trulieve Cannabis spent $48M in Q3 campaigning for the legalization of adult use in Florida and believes that it could be money well spent given its 156 stores there but, in the meantime, it has severely increased its net loss for the quarter.

Trulieve Cannabis Spent $48M In Q3 Campaigning For Adult- Use In Florida Increasing Net Loss By 400%

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