Cannabis stocks

Verano Holdings Corp. functions as a vertically integrated, multi-state cannabis enterprise throughout the United States. Its operations span the complete cannabis supply chain, from growing and manufacturing to wholesale and direct-to-consumer sales, across a broad geographic range. This includes Arizona, Arkansas, California, Connecticut, Florida, Illinois, Maryland, Massachusetts, Michigan, Missouri, Nevada, New Jersey, Ohio, Pennsylvania, and West Virginia. The company provides a variety of artisanal cannabis products, sold under prominent brands such as Encore, Avexia, MUV, Savvy, BITS, and Verano, to cater to both medical and adult-use markets. Its headquarters are located in Chicago, Illinois.

Curaleaf Holdings, Inc. operates as a prominent cannabis company primarily within the United States, managing its business through both domestic and international operating segments. The company's core activities involve the cultivation, production, and distribution of a diverse range of cannabis products, available through both its retail locations and wholesale channels. Its extensive product catalog includes various cannabis forms such as flowers (e.g., pre-rolls, dry-herb vaporizer cartridges), concentrates for vaping (like pre-filled cartridges and disposable pens), concentrates for dabbing (including distillate droppers), edibles, mints, topical balms, lotions, tinctures, lozenges, and capsules. Additionally, Curaleaf provides hemp-derived CBD and cannabigerol products. Established in 2010, the company is headquartered in New York, New York.

Trulieve Cannabis Corporation, along with its various subsidiaries, functions as a prominent medical marijuana enterprise. This company manages the entire production cycle, from cultivating its own cannabis to manufacturing finished goods in-house. Its products are then distributed directly to consumers through Trulieve-branded dispensaries located in Florida, with the added convenience of home delivery services within the state. Trulieve boasts a wide array of cannabis product types, including traditional flower, edibles, vaporizer cartridges, concentrates, topical applications, capsules, tinctures, dissolvable powders, and even nasal sprays. These are offered under several proprietary brands, such as Avenue, Cultivar Collection, Muse, Modern Flower, Alchemy, Momenta, Sweet Talk, Co2lors, Loveli, and Roll One. As of March 16, 2022, the company's retail presence included 162 dispensaries across multiple states. This network comprised 113 stores in Florida, 19 affiliated locations in Pennsylvania, 17 in Arizona, 5 in California, 3 in Maryland, 2 each in Massachusetts and West Virginia, and one in Connecticut. Beyond retail, Trulieve Cannabis Corp. also operates cultivation and processing facilities in Arizona, Colorado, Florida, Maryland, Massachusetts, Nevada, Pennsylvania, and West Virginia. Tracing its origins back to an incorporation in 1940, the company was initially known as Schyan Exploration Inc./Exploration Schyan Inc. It officially adopted the name Trulieve Cannabis Corp. in September 2018 and maintains its headquarters in Quincy, Florida.

Aurora is the owner of the international medical-cannabis franchise and more than 50 tons of annual EU-GMP cultivation and manufacturing capacity targeted by Curaleaf.

Aurora is the direct target and operates across medical and consumer cannabis markets in Canada, Europe, Australia and New Zealand.

IIPR directly owns and leases specialized properties to regulated cannabis operators, making it a direct participant in the cannabis real-estate market.

Innovative Industrial Properties, Inc. is an independently managed, Maryland-based corporation primarily focused on acquiring, owning, and overseeing unique real estate assets. These properties are subsequently leased to experienced, state-licensed operators who utilize them for their regulated medical cannabis facilities. For tax purposes, the company adopted the structure of a Real Estate Investment Trust (REIT) starting from the end of 2017.

NewLake is a direct cannabis sale-leaseback real-estate platform, describing itself as a triple-net REIT that acquires properties through sale-leasebacks.

NewLake Capital Partners stands as a premier financier of real estate for businesses operating within the state-licensed cannabis sector. Established in 2019, this triple-net lease Real Estate Investment Trust (REIT) strategically secures commercial and retail assets. It accomplishes this through various avenues, including sale-leaseback arrangements, direct property acquisitions, and custom build-to-suit developments. NewLake's portfolio features properties leased to many of the most prominent players in the regulated U.S. cannabis market, positioning the company as an indispensable partner for their essential property requirements.

Canopy's documented role is an end-to-end EU-GMP supply chain and foreign-market exporter competing for regulated European channels.

Canopy has an end-to-end EU-GMP supply chain and international medical-cannabis revenue, creating substantial overlap with the potential combined platform.

Canopy is identified as a large cannabis industry player that operates cultivation facilities and has rationalized capacity.

Village Farms through Pure Sunfarms competes in international medical-cannabis export channels and has regulated international supply capabilities.

Village Farms has Canadian cannabis-market participation and documented EU-GMP export capability for international medical-cannabis customers.

Ascend Wellness Holdings, Inc. operates within the cannabis industry, specializing in the cultivation, processing, and distribution of packaged marijuana products. Its extensive product portfolio encompasses a variety of cannabis forms, including dried flower, pre-rolled joints, concentrated extracts, vaporizable products, edibles, and other related consumer items. As of December 31, 2021, the company maintained a substantial retail presence, with 20 dispensaries in operation. Beyond its own network, Ascend Wellness Holdings additionally supplies its merchandise to other authorized cannabis retailers. Established in 2018, the firm's corporate headquarters are located in New York, New York.

iAnthus Capital Holdings, Inc. manages and operates a network of licensed cannabis cultivation, processing, and retail dispensary facilities across the United States. The company's diverse product portfolio includes raw cannabis biomass such as pre-rolls, various cannabis-infused items like topical creams and edibles, and a selection of concentrated products such as vape cartridges, live resins, waxes, oils, and tinctures. They also produce and distribute a range of cannabidiol (CBD) products, including topical creams, tinctures, and sprays, alongside a dedicated line of CBD-infused beauty and skincare essentials like lotions, creams, haircare items, lip balms, and bath bombs. iAnthus participates in both the wholesale distribution and direct-to-consumer retail of its CBD offerings. Its operational footprint spans 8 states, encompassing ownership or management of 32 dispensaries and 10 cultivation or processing sites. Founded in 2014, the company is headquartered in New York, New York.

Raphael Pharmaceutical Inc. operates as a biopharmaceutical firm, concentrating its efforts on discovering and clinically developing novel therapeutic solutions. These treatments primarily leverage cannabinoids and are designed to enhance patients' quality of life. Currently, the company's leading investigational drug candidate is being advanced for the management of rheumatoid arthritis. Furthermore, Raphael Pharma plans to broaden its pipeline to include more cannabinoid-based medicines aimed at various cancer types and other autoimmune conditions. The company's corporate headquarters are situated in Tel Aviv-Jaffa, Israel.

Artelo Biosciences, Inc. functions as a clinical-stage biopharmaceutical enterprise dedicated to discovering and advancing therapies that modulate the endocannabinoid system. The company's robust developmental portfolio encompasses several promising candidates: ART27.13, a synthetic G protein-coupled receptor agonist currently undergoing Phase 1b/2a clinical investigation for cancer-related anorexia; ART12.11, a synthetic cannabidiol cocrystal being explored for inflammatory bowel disease and post-traumatic stress disorder (PTSD); and ART26.12, a fatty acid binding protein 5 inhibitor with potential applications in prostate and breast cancer treatment, as well as PTSD. Further extending its research efforts, Artelo has established a collaborative partnership with Trinity College Dublin to probe ART27.13's efficacy in addressing cancer cachexia. Established in 2011, the entity initially operated under the name Reactive Medical, Inc. before rebranding as Artelo Biosciences, Inc. in April 2017. Its corporate headquarters are situated in Solana Beach, California.

CNBX Pharmaceuticals Inc. is a biopharmaceutical firm dedicated to discovering, developing, and commercializing cannabinoid-based treatments and therapies for various cancers. Its flagship product candidate, RCC-33, is an oral capsule formulation of cannabinoids specifically engineered for treating colorectal cancer. The company's development pipeline also encompasses several other potential drug candidates, including PLP-33, which targets lateral spreading or sessile colorectal polyps during colonoscopy; BRST-33, aimed at breast cancer; MLN-33, designed for melanoma; and PRST-33, intended for prostate cancer. Furthermore, CNBX is developing Cannabics SR, a lipid-based capsule containing a standardized blend of cannabinoids for managing cancer anorexia-cachexia syndrome, alongside Cannabics CDx, an ex-vivo drug sensitivity diagnostic tool. Incorporated in 2004, the company, based in Bethesda, Maryland, was formerly known as Cannabics Pharmaceuticals Inc. before officially changing its name in March 2022. It operates as a subsidiary of Cannabics Inc.

MIRA Pharmaceuticals, Inc. operates as a biopharmaceutical enterprise currently in the clinical development phase. Its main objective involves the creation and market introduction of a novel synthetic tetrahydrocannabinol (THC) analog. This compound is undergoing investigation for its potential to address anxiety and the cognitive impairments frequently observed in adult patients suffering from early-stage dementia. The firm's lead candidate, MIRA1a, is a synthetic cannabinoid analog engineered to alleviate both anxiety and chronic pain through its interaction with cannabinoid type 1 and type 2 receptors. Originally established in 2020 as MIRA1a Therapeutics, Inc., MIRA Pharmaceuticals, Inc. maintains its headquarters in Baltimore, Maryland.

Anebulo Pharmaceuticals, Inc., a clinical-stage biotechnology company, engages in developing treatments for unintentional cannabis poisoning, acute cannabinoid intoxication, and acute cannabis-induced conditions in the United States. The company’s lead product candidate is the selonabant, a small-molecule antagonist of cannabinoid binding receptor type-1(CB1), which is in a phase II clinical trial to address the unmet medical need for a specific antidote for cannabis toxicity. Anebulo Pharmaceuticals, Inc. was incorporated in 2020 and is headquartered in Lakeway, Texas.

Aelis Farma S.A., a French biotechnology company founded in 2013 and headquartered in Bordeaux, is dedicated to the discovery and development of treatments for brain-related illnesses. The firm's research pipeline primarily focuses on signaling-specific inhibitors that target CB1 receptors. Its leading investigational drug, AEF0117, is currently advancing through Phase 2b clinical trials, designed to alleviate the harmful impacts of excessive cannabis consumption. Furthermore, AEF0217, another key drug candidate, has successfully completed Phase 1 clinical trials, with the goal of addressing cognitive impairments linked to Down syndrome and other similar conditions.

Enveric Biosciences, Inc. is a pharmaceutical firm focused on advancing diverse cannabinoid-based medications, primarily for use in cancer care. The company's robust product pipeline includes EV104, developed for treating osteoarthritis, and EVM-101 and EVM-201, which are intended to alleviate cancer-related distress. Furthermore, EVM-301 is under development for a mental health indication, alongside EV102, a cannabinoid cream formulated for topical skin application. Rounding out their portfolio is EV101, a novel combination therapy integrating cannabinoids with chemotherapy. This innovative company is based in Naples, Florida.

Operating across North America and Europe, GB Sciences, Inc. is dedicated to the research and development of plant-based pharmaceuticals. The company specializes in crafting cannabinoid-inspired medications and complex therapeutic formulations intended for the prescription drug market. Its extensive intellectual property portfolio addresses a variety of medical conditions, with programs currently in pre-clinical animal stages. These include initiatives for Parkinson's disease, neuropathic and chronic pain, COVID-related cytokine release syndrome, depression/anxiety, and cardiovascular ailments. Formed in 2001 and headquartered in Las Vegas, Nevada, the company was formerly known as Growblox Sciences, Inc. before rebranding in October 2016.

Jazz owns GW Pharmaceuticals and the FDA-approved cannabinoid product Epidiolex. Maintaining the broader proposal preserves option value for future cannabinoid research and commercialization, but the current pause does not create immediate Epidiolex revenue or change its existing approval.

Maintaining Schedule III treatment supports the research and commercialization environment for federally regulated cannabinoid medicines. Jazz owns GW Pharmaceuticals and Epidiolex, giving it an established FDA-regulated cannabinoid platform that could gain strategic value as research, prescribing, and future product development become less constrained. The current order does not itself create material new Epidiolex revenue.

Nextleaf is a Canadian cannabis processor built around closed-loop extraction and distillation technology, making extraction capability central to its business.

Charlotte's Web Holdings, Inc. specializes in the cultivation, manufacturing, marketing, and distribution of hemp-derived cannabidiol (CBD) wellness products. Their extensive product range includes liquid hemp extract tinctures, various gummies (designed for sleep, stress relief, immune support, and exercise recovery), capsules, topical CBD creams and lotions, and specific offerings for pets. These are sold under prominent brands such as Charlotte's Web, CBD Medic, CBD Clinic, and Harmony Hemp. Each product is formulated with naturally occurring phytocannabinoids like CBD, cannabichromene (CBC), cannabigerol (CBG), cannabinol (CBN), along with terpenes, flavonoids, and a spectrum of other beneficial hemp compounds. The company reaches its customers through multiple channels, including traditional retail outlets, health care practitioners, and direct-to-consumer sales via its official website. Charlotte's Web actively advances hemp cannabinoid science through key collaborations. Its CW Labs division works with the University at Buffalo's Center for Integrated Global Biomedical Sciences on a dedicated research program, and it also maintains a scientific partnership with McLean Hospital. Founded in 2013 and headquartered in Denver, Colorado, the company was formerly known as Stanley Brothers Holdings Inc. before officially changing its name to Charlotte's Web Holdings, Inc. in July 2018.

The regulatory headwind cited by Jones Soda (the decline of HD9 sales due to THC limits) validates the severe fundamental risk facing Charlotte's Web. The impending federal and state restrictions on hemp-derived THC concentrations are described as potentially 'demolishing' the industry, impacting CWBHF's core full-spectrum portfolio.

cbdMD, Inc. is engaged in the production and distribution of a diverse array of cannabidiol (CBD) products. The company oversees and markets several consumer-oriented, hemp-derived CBD brands, notably its primary brand cbdMD, alongside Paw CBD and cbdMD Botanicals. Under the cbdMD label, its offerings span various items, including CBD tinctures, edible gummies, topical applications, capsules, bath bombs, bath salts, and solutions designed to aid sleep. Furthermore, its Paw CBD brand caters to pets with veterinarian-formulated products such as tinctures, edible chews, and topical treatments. The company's merchandise reaches customers throughout the United States via its proprietary e-commerce platform, various third-party online retail sites, wholesale partners, and physical brick-and-mortar establishments. cbdMD, Inc. also maintains a research collaboration with the University of Mississippi, focusing on the discovery of novel cannabinoids. Incorporated in 2015, the firm was previously known as Level Brands, Inc. before officially changing its name to cbdMD, Inc. in May 2019, and its corporate headquarters are situated in Charlotte, North Carolina.

CV Sciences, Inc. functions as a life sciences organization primarily operating across North America. Its business activities are organized into two distinct divisions: Consumer Products and Specialty Pharmaceutical. The Consumer Products division focuses on the creation, manufacturing, and commercialization of plant-derived dietary supplements and cannabidiol (CBD) products sourced from hemp. These offerings are marketed under various brand identities including PlusCBD, ProCBD, HappyLane, CV Acute, CV Defense, and PlusCBD Pet. They serve a wide array of health and wellness sectors such as nutraceuticals, personal care, specialty food items, and pet products. The company distributes these goods through its own digital platforms, other online retailers, a network of chosen distributors, and traditional brick-and-mortar stores. In contrast, the Specialty Pharmaceutical division is dedicated to the research, advancement, and eventual market launch of cannabinoids for the treatment of specific medical conditions. A key project in this segment involves the drug candidate CVSI-007, an innovative combination of CBD and nicotine designed to combat smokeless tobacco use and dependence. Established in 2010, the company was initially known as CannaVest Corp. before officially adopting the name CV Sciences, Inc. in January 2016. Its main corporate offices are located in San Diego, California.

Green Thumb's RISE dispensaries and New Jersey brand presence provide direct retail exposure, although the retrieved context does not quantify its standalone share.

Green Thumb's RISE-branded retail operations compete in the New Jersey market. TerrAscend's completed location expansion strengthens a direct MSO rival's customer reach and operating scale, potentially reducing Green Thumb's share of local retail demand and increasing the need for promotions or brand investment.

CanaFarma Hemp Products Corp., headquartered in Vancouver, Canada, is actively involved in the cultivation, processing, and distribution of hemp oil across the United States. The company expands its offerings to include various hemp-derived consumer products, such as YOOFORIC-branded chewing gum and tinctures, all of which are accessible through its online sales channel.

Operating under the brand name LeafyWell, NxGen Brands Inc. is dedicated to the production, distribution, and promotion of a wide array of cannabidiol (CBD) supplements. The company's product line features various CBD and hemp-derived goods, including edible gummies, oils, vaporizer liquids, pet-specific treats, and other offerings. Its operations are headquartered in Davie, Florida.

Bespoke Extracts, Inc. offers a range of cannabidiol (CBD) products sourced from hemp. Their diverse inventory includes various CBD formulations, such as those infused with manuka honey, as well as lotions and balms. Additionally, the company provides CBD extracts available in capsule form, topical applications, and edible gummies. These items are sold directly to consumers through their dedicated e-commerce website, bespokeextracts.com. The business, which changed its name from DiMi Telematics International, Inc. to Bespoke Extracts, Inc. in March 2017, is headquartered in Denver, Colorado.

Real Brands, Inc. specializes in the comprehensive process of hemp-derived cannabidiol (CBD), from the extraction of CBD oil and isolate, through their wholesale distribution, to the manufacturing and retail of a diverse range of CBD-infused consumer products. Their extensive product line includes topical creams, gels, and lotions, cosmetic items, ingestible options like tinctures, oils, and capsules, as well as vape cartridges and oral sprays. Established in 2011, the company's corporate headquarters are situated in North Providence, Rhode Island.

Grown Rogue International Inc., operating through its subsidiary entities, focuses on the cultivation and retail of cannabis products across the United States. Its diverse product portfolio includes a variety of cannabis flower, such as indica, sativa, and hybrid strains, alongside edibles, vaporization cartridges, pre-rolled joints, and concentrated cannabis forms. The company's merchandise is distributed and sold primarily through licensed dispensaries. Grown Rogue International Inc.'s corporate headquarters are located in Medford, Oregon.

Planet 13 Holdings Inc., headquartered in Las Vegas, Nevada, operates as an integrated cannabis enterprise primarily within the Nevada market in the United States. The company manages the entire lifecycle of cannabis products, from cultivation and manufacturing to distribution and sales, catering to both medicinal and recreational consumers. Beyond its core cannabis operations, which include licensed dispensaries, Planet 13 diversifies its business. It also runs a non-cannabis retail store, an event space, and a suite of hospitality ventures: the Trece Eatery + Spirits, a coffee shop, and a pizzeria. Furthermore, Planet 13 offers various client services such as consultation, educational programs, and convenience solutions. The company develops and owns a wide array of cannabis products, encompassing chocolates, gummies, sparkling beverages, vapes, concentrates, and flowers, sold under proprietary brand names like TRENDI, Leaf & Vine, Dreamland, HaHa, and Medizin.

YourWay Cannabis Brands Inc. functions as a multi-state operator within the cannabis industry, conducting active sales and managing operations across Arizona and California. The company employs a diverse approach, cultivating its proprietary brands, forming alliances with other businesses, and providing white-label products. These initiatives are geared towards broadening market penetration, transforming the cannabis sector, and reimagining the interaction between consumers and cannabis brands. This organization was previously recognized as Hollister Biosciences Inc. before officially rebranding to YourWay Cannabis Brands Inc. in December of 2021. Established in 2019, the firm maintains its corporate headquarters in Phoenix, Arizona.

Cannara Biotech Inc., alongside its affiliated entities, specializes in the indoor cultivation, processing, and distribution of cannabis and related products across Canada. The company operates with a dual business model, encompassing both cannabis operations and real estate activities. Its diverse product portfolio is marketed under distinct brand names such as TRIBAL, nugz, and ORCHID CBD. Distribution is managed through both wholesale channels and online retail platforms. Established in 2017, Cannara Biotech Inc. maintains its headquarters in Saint-Laurent, Canada.

SNDL is directly exposed to the cannabis consolidation and overcapacity cycle, although it is not a party to this offer.

Acreage is reported with 9.5% New Jersey retail share, indicating meaningful direct exposure to the state's retail market.

Acreage is a reported New Jersey MSO competitor with approximately 9.5% market share. TerrAscend's added retail location increases the competitive scale and local coverage of a rival operator, which can pressure Acreage's customer traffic, share, and store-level economics in New Jersey.

AYR is identified among the dominant New Jersey cannabis brands, indicating meaningful but unquantified state retail exposure.

AYR is identified as one of the dominant New Jersey cannabis brands. The completed acquisition adds another TerrAscend storefront and increases competition for customer traffic, local market share, and supplier terms, creating a modest negative effect on AYR's New Jersey retail opportunity.

GrowGeneration is identified as a primary supplier of cultivation infrastructure and equipment to cannabis operators.

GrowGeneration supplies hydroponics, lighting and cultivation infrastructure to cannabis operators. If Curaleaf completes the acquisition and pursues the disclosed cost synergies through facility closures, cultivation consolidation and lower expansion spending, GRWG could experience reduced commercial equipment demand and weaker inventory turnover.

Hydrofarm operates in hydroponic and controlled-environment agriculture distribution, making it an indirect supplier to cultivation projects.

Hydrofarm Holdings Group, Inc. is a leading manufacturer and distributor of specialized equipment and supplies for controlled environment agriculture (CEA) across the United States and Canada. The company empowers cultivators to grow a wide array of plants, including cannabis, various flowers, fruits, vegetables, grains, and herbs, by providing essential tools for optimized indoor settings. Its comprehensive product portfolio encompasses agricultural lighting fixtures, advanced indoor climate control machinery, hydroponic systems, and a diverse range of nutrients and plant additives. Specific offerings include sophisticated grow light systems; heating, ventilation, and air conditioning (HVAC) units; humidity and carbon dioxide sensors and regulators; water pumps, heaters, chillers, and filtration units; and precision nutrient and fertilizer delivery systems. Hydrofarm also supplies various growing media, from traditional soil to rock wool and coconut fiber. Furthermore, the company delivers complete hydroponics solutions, featuring hydro systems, trays, components, meters, solutions, pumps, irrigation setups, water purification systems, pots, containers, and specialized tents and tarps. Its atmospheric control solutions include controllers, monitors, timers, ventilation and air conditioning units, air purification devices, and CO2 management systems. Hydrofarm's extensive lineup is offered under a multitude of recognized brands, including Phantom, PhotoBio, Active Aqua, Active Air, HEAVY 16, House & Garden, Mad Farmer, Roots Organics, Soul, Procision, Grotek, Gaia Green, Innovative Growers Equipment, Quantum, Xtrasun, Digilux, Agrobrite, SunBlaster, Jump Start, Active Eye, Autopilot, Phat, oxyClone, and GROW!T. Established in 1977, Hydrofarm Holdings Group, Inc. maintains its corporate headquarters in Shoemakersville, Pennsylvania.

Nature's Miracle Holding Inc. (NMHI) functions as an agricultural technology enterprise, dedicated to supplying crucial lighting products and growth substrates to cultivators engaged in controlled environment agriculture (CEA) across both the United States and Canada. The company's comprehensive product lineup features advanced LED light fixtures, traditional high-pressure sodium (HPS) and ceramic metal halide (CMH) fixtures, as well as electronic ballasts and intricate control units. Furthermore, NMHI extends its services to include the conceptualization, construction, and operation of diverse indoor cultivation settings, including greenhouses and specialized indoor farms. The firm distributes its offerings directly to wholesale CEA partners. Its primary operational base is located in Ontario, California.

iMD Companies, Inc. operates as a holding company that, through its various subsidiaries, is engaged in the manufacturing, marketing, and distribution of specialized equipment for the hydroponics sector. Additionally, the company is involved in the development and production of environmental control systems. Its corporate headquarters are situated in Tampa, Florida.

iPower Inc. operates as an online retail enterprise in the United States, specializing in equipment for hydroponics. The company offers a comprehensive array of products designed for both indoor and outdoor cultivation. Their catalog features sophisticated grow-light systems for indoor and greenhouse environments, ventilation solutions, activated carbon filters, various plant nutrients, and different growing media. They also provide water-resistant hydroponic grow tents, trimming machines, pumps, and a wide selection of accessories for hydroponic gardening, alongside general indoor and outdoor growing supplies. These items are sold under the iPower and Simple Deluxe brands through their proprietary Zenhydro.com website, as well as via numerous third-party e-commerce channels. Established in 2018, the company underwent a name change in September 2020, transitioning from its former identity as BZRTH Inc. to iPower Inc. Its corporate headquarters are located in Duarte, California.