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Cannabis stocks could be poised for a rally after years of stagnation, fueled by investor optimism over the possibility for new federal rules for hemp-derived products and signals that President Donald Trump could take a more permissive stance on marijuana.
Publicly traded cannabis companies have seen their share of ups and downs. Verano Holdings reported earnings Wednesday that saw revenues of $203 million, up slightly from the previous quarter but down 6% year-over-year. However, Verano posted a net loss of $44 million, partly due to a $5 million impairment charge on a facility in Pennsylvania and $10 million in legal contingencies as a result of a settlement.
Next week, two U.S. cannabis giants, Curaleaf and Trulieve, are set to follow in reporting earnings. While the sector is down roughly 10% this year, based on cannabis-focused ETFs, some executives, like the CEO of Tilray Brands
, remain optimistic for a turnaround. Already, in October, Tilray Brands
