Happy Friday,
At Noon Eastern/9 AM Pacific, we’ll have our third episode of This Week in Cannabis LIVE. It’s a program we’re producing alongside our partners at High Spirits: The Cannabis Business Podcast and Cannabis Musings. So, join us on LinkedIn or YouTube later today.
But before you get to that, check out the This Week in Cannabis Puzzle - a fun weekly look at the cannabis news.
Let’s get to it.
-JB, JR, ZH, NM
This newsletter is 613 words or about a 4.5-minute read.
Today’s newsletter made possible by:
📣 Quotable
“Minnesota’s legalization of THC edibles was smart and safety-conscious, and unfortunately the loophole created by the federal government is anything but,” Minnesota Attorney General Keith Ellison writes, on why he signed a letter with 39 other state attorneys general urging the federal government to ban intoxicating hemp.
“As a result, there are highly potent THC products entering Minnesota that are being marketed to children, and I won’t stand by and let out-of-state businesses prey on young Minnesotans.”
⏩ Quick hits
Coca-Cola, PepsiCo come out against intoxicating hemp 🙅
The Consumer Brand Association urged Congress to close the hemp loophole in a letter to legislative leaders. The trade organization represents some of the largest food and beverage manufacturers in the country, and reflects increasing intensity in the fight over regulating hemp. Membership includes Coca-Cola, PepsiCo., The Kraft Heinz Company and Tyson Foods. Interestingly, Target, which recently began selling intoxicating hemp drinks in Minnesota, is also a member of the association.
🧪 Science & research
The Trump Effect on cannabis stocks 📉
A new study in the International Review of Economics & Finance found that President Trump’s election victory triggered a sharp, statistically significant drop in US cannabis stock prices — roughly 13% on average — as investors reacted to renewed uncertainty over federal legalization. The authors say the decline reflects lingering fears that a second Trump administration will stall or reverse progress toward national reform, though stronger cannabis firms with healthy balance sheets proved more resilient. Read the full study here.
🤝 Deals, launches, partnerships
The Boston Beer Company launches gummies in AB and ON 🍬
The Boston Beer Company launched 5 mg edibles under its Emerald Hour brand in Alberta and Ontario. Read more.
💸 Earnings roundup
It’s earnings season. We’ll get a clearer picture of the financials of the biggest cannabis firms, and how they’re faring under Trump, dealing with cannibalization from the hemp-derived THC market, and more:
MariMed ($MRMD) reported a $2.9 million loss on $40.7 million in revenue. During the last quarter the company expanded its brand of edibles to both the Maine and Pennsylvania markets through licensing deals.
Cronos Group ($CRON) reported $28 million in income on $36 million in revenue. The quarter marks an increase in income from the same quarter last year when the company pulled in $10 million on $29.9 million in revenue.
WM Technology ($MAPS) reported $3.6 million in net income on $42.2 million in revenue. During the last quarter the company maintained profitability for the seventh straight period while navigating pricing pressure and softer client spend across core markets.
TerrAscend ($TSND) reported a $9.9 million net loss on $65.1 million in net revenue for Q3 2025. During the quarter the company achieved $17.0 million in adjusted EBITDA (26.1 % margin) and $4.9 million in free cash flow, marking its 9th consecutive quarter of positive FCF.
Here’s the rest of the schedule:
Nov. 7
Canopy Growth - 10:00AM
Nov. 10
Village Farms - 8:30AM
Ascend Wellness - 5:00PM
Nov. 11
Grown Rogue - 5:00PM
📅 Cannabis calendar
After resurrecting the brand, High Times’ Cannabis Cup is coming to Torches dispensary on 42nd street today. Judging kits will be available for purchase.