Here is today's cannabis stocks recap, with the winners, the losers and the news behind the moves. On the first session after the midterms, Canadian names rallied while US MSOs and MSOS fell on the ETF's heaviest volume in six sessions.
ETFs: MSOS −3.6% ($4.33, on 12.7M shares), MJ +2.0%, CNBS −2.2%, YOLO −2.1%
Winners
- Tilray (TLRY): +11.7% to $2.96, on 11.5M shares
- Scotts Miracle-Gro (SMG): +8.7% to $67.19
- Decibel (DBCCF): +8.3% to $1.43
- Canopy Growth (CGC): +6.4% to $0.75
- Organigram (OGI): +4.9% to $0.97
Losers
- Curaleaf (CURLF): −5.4% to $9.59
- Cresco Labs (CRLBF): −5.1% to $0.59, 7% above its 52-week low
- Green Thumb (GTBIF): −2.1% to $6.56
Canadian LPs: Tilray +11.7%, Canopy +6.4%, SNDL +4.4%, Cronos +3.9% (to $3.51, within 3% of its 52-week high), Organigram +4.9%, Aurora +1.6%.
MSOs: Curaleaf −5.4%, Cresco −5.1%, Green Thumb −2.1%. Ascend was $0.40 (−2.0%).
Ancillary and hemp: IIPR +2.4%, NewLake +1.0%, Turning Point Brands +4.6%.
How the news lines up with the moves
- Sell the news in US MSOs. Democrats won both chambers of Congress and Massachusetts rejected repeal, yet MSOS fell 3.6% after rising 14% in the previous two sessions.
- Canadian names rose on the same federal-legalization headlines. Tilray's 11.7% gain was its biggest move since Monday's EBITDA guidance raise.
- Decibel rose 8.3% after Ewing Morris raised its all-cash offer for the company's shares.
- Curaleaf fell 5.4% the day after its earnings call and a 23% two-day run. It says its Aurora offer remains outstanding.
- Hemp: Turning Point Brands rose as Texas Lt. Gov. Dan Patrick, who led the state's THC-ban push, lost his race.
These are correlations, not proof of cause.
Was Wednesday a pause after a fast run, or a sign that investors see Canada as the bigger winner from a Democratic Congress?
Not investment advice.
#cannabisstocks #MSOS #Election2026 #cannabisindustry #investing
