Moving marijuana from Schedule I to Schedule III is being delayed by a Government Accountability Office report, as opponents seek to add the report, more testimony and documents to the administrative record. The DEA does not object to including the report, but the additional requests could postpone a final decision. For Green Thumb Industries (GTBIF), rescheduling could remove the federal tax burden under Section 280E, which bars deductions for ordinary operating expenses. Even so, the company generated $29 million in operating cash flow in Q2 2026, with revenue of $306.7 million, normalized EBITDA of $84.3 million and net income of $4.9 million. Q2 gross margin fell to 45% from 49.9% a year earlier, while the company repurchased about 29.5 million shares for $203.4 million.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
Keywords
cannabisDonald TrumpGreen Thumbtaxes
Open a keyword to see other news on the same topic.
Related news
- Trump's Marijuana Order Is Stuck at the DEA. Here's What That Means for Canopy Growth.
Last December, President Trump signed Executive Order 14370 to speed up the rescheduling of marijuana to Schedule III, lifting Canopy Growth shares from $1.15 to nearly $2 before they gave back those gains. On Sept. 29, DEA Chief Administrative Judge Derek C. Julius stayed the rescheduling process pending a briefing on a GAO report, and after the DEA's Oct. 9 response he granted another stay so opposing parties could reply. The article argues that Canopy's larger challenges are the Canadian recreational market, persistent operating losses, and the risk of further dilution through its $200 million at-the-market equity program, which calls its $300 million valuation into question.
- Trump policies to cost middle - income Americans $1 , 700 more in 2026 , while richest 1 % save $12 , 560 : Report
According to a report from the Institute on Taxation and Economic Policy (ITEP), released on October 8, Trump administration policies could cost a typical middle-income American about $1,700 more in 2026, while the poorest 20% would pay about $750 more and the wealthiest 1% could save about $12,560. The analysis covers tax provisions in the One Big Beautiful Bill Act, the expiration of COVID-era ACA health insurance tax credits, and price increases tied to tariffs, the Iran war and immigration policies. For a middle-income taxpayer, the new tax law saves about $380, while price effects cost about $1,850 and the credit expiration about $230. The White House disputes this view, saying the policies helped stop inflation and support growth and jobs, and some policy experts question how the report calculates costs and benefits.
- Here’s the Hands-Down Best Cannabis Stock for Dividend Investors
The author calls the Innovative Industrial Properties Series A Cumulative Redeemable Preferred Stock (IIPR-PA) the best cannabis stock for dividend investors. IIPR is a REIT that owns 108 properties in 19 states and leases them to licensed U.S. cannabis operators under long-term triple-net leases. The common stock's 14.5% forward yield is seen as unsustainable given a payout ratio of about 172% and insufficient free cash flow, while the preferred yields about 9.3% and its cumulative feature requires missed preferred dividends to be paid before common dividends resume. Key risks include tenants failing to pay rent and heavy reliance on a small group of its 37 tenants for half of rental revenue. The author sees it as suited to aggressive income investors rather than conservative ones.
- Never in history : Ex - Trump official says president just hit a dark new milestone
Former Homeland Security staffer Miles Taylor wrote in his Defiance newsletter that corruption has become the leading issue in an American election, something he says has never happened in modern polling. He cited a Fox News poll finding 88% of registered voters are extremely or very concerned about corruption, and a Trump approval rating of 36%, the lowest Fox has recorded for him. A Gallup poll last month found 89% of Americans believe corruption is widespread in their government, the highest share Gallup has measured. Taylor pointed to the White House ballroom, whose donors reportedly include Apple, Nvidia and Lockheed Martin, many of which have since won regulatory decisions or government contracts, while hundreds of millions in taxpayer dollars fund the project. He concluded that the polling is a 'death sentence' for MAGA as a governing movement.
- President Trump Sells Micron Stock and Buys Another Mega-Cap Artificial Intelligence (AI) Stock
Financial disclosures show President Trump's brokerage accounts, which are managed by third parties, executed over 500 trades in August. The accounts sold Micron Technology for net sales of $251,000 to $515,000 and made the largest buy, in Meta Platforms, for net purchases of $5.1 million to $25.3 million. The article notes Micron has benefited from an AI-driven memory shortage and reported fiscal fourth-quarter revenue up 379% to $54 billion, but Morningstar sees no economic moat in its commodity-like memory products, and a possible reason for the sale is worry about falling prices when the shortage eases. Meta's second-quarter revenue rose 28% to $60.8 billion, but GAAP diluted earnings fell 13% to $6.18 per share on severance and legal costs; the stock, down nearly 30% from its August high, trades at 27 times earnings, which may explain the purchase.
- Apple, Nvidia each gave $25M to Trump's White House ballroom — but the president's own name is nowhere on the donor list
A leaked list of donors to the White House ballroom, obtained by The Washington Post, shows $330 million in contributions, including $25 million each from Apple and Nvidia, $22 million from Google out of settlement funds from Trump's lawsuit against YouTube, and $10 million from Microsoft. President Trump is not on the list, even though he had said he would pay for the project himself, and the White House did not say how much he has personally given. The official cost rose from $200 million to $400 million, and a Washington Post investigation estimated $600 million, with taxpayers covering half. Public Citizen argues that donations routed through a nonprofit that allows anonymous giving raise pay-to-play concerns, while Democratic Representatives Jared Huffman and Maxine Dexter demand a full accounting of who paid and what they were promised. The White House called the leak a 'cowardly' act and said it would pursue those responsible.
Related markets
Latest news
- JPMorgan's JPM Coin, representing dollar deposits, is coming to Ethereum: Bloomberg
JPMorgan will make JPM Coin, a token representing its dollar deposits, available to institutional clients on Ethereum, according to Bloomberg. The bank says Ethereum's liquidity makes it attractive to crypto companies seeking blockchain payments and to financial firms settling trades or backing tokenized assets. The move extends JPMorgan's blockchain work beyond Base and its private Kinexys network, which processes more than $7 billion daily. The bank did not say when the token will go live on Ethereum. Meanwhile, JPMorgan is among US banks planning a shared tokenized deposit network, but it was not on Swift's list of 17 banks preparing live transactions on its blockchain ledger in July.
- Cerrado Gold Reports 21% Year-Over-Year Increase in Q3 2026 Production Results at Minera Don Nicolas
Cerrado Gold reported Q3 2026 production of 16,685 GEO at the Minera Don Nicolas (MDN) mine in Santa Cruz Province, Argentina, up 21% from 13,832 GEO in Q3 2025. Year-to-date output reached 44,942 GEO, up 23% from 36,432 GEO in the comparable 2025 period. Heap leach output held steady at 9,649 GEO, while CIL output rose to 7,036 GEO as higher-grade Calandrias material, generally above 2.5 g/t gold, was routed to the Martinetas mill. Laboratory tests on selected material showed gold recoveries of up to 95%, versus about 60% expected from heap leaching, and the company now expects full-year 2026 production at the upper end of its 50,000 to 60,000 GEO guidance while targeting a new PEA by late Q1 2027.
- Is Visa Stock Still a Buy After Gaining 14% This Year?
Visa shares hit an all-time high of $401, up about 12% over the past two weeks from $359 at the end of September and up 14% year to date. Key catalysts include approval from the People's Bank of China to set up a bankcard clearing institution in China and the move of Visa Direct's stablecoin to commercial deployment on Oct. 15. Baird and BMO Capital both raised their price targets. Visa reports fiscal fourth-quarter earnings on Oct. 27 and has raised its dividend every year since 2009, last year by 14% to $0.67 per share. The author still considers the stock a buy ahead of earnings, citing a forward P/E of 24.
- Five things to watch in markets in the week ahead
Markets start the week with AI stocks under pressure after hotter-than-expected September inflation raised expectations of higher US rates and fed worries about debt-funded AI spending. Last week the Philadelphia semiconductor index fell 11.41% and the Nasdaq Composite lost 4.48%, with CoreWeave shedding about a quarter of its value and Oracle down 9.31%. Earnings are in focus, with SpaceX and Netflix reporting on Tuesday and Meta and Tesla on Wednesday after the close. Netflix reportedly plans to cut around 6% of its workforce, roughly 1,000 roles, its biggest reduction since 2022. SpaceX has also agreed to buy spectrum licenses from Grain Management for about $8 billion, a move into the wireless market.
- eMemory/PUFsecurity Showcases OCP S.A.F.E.-Approved PUFrt at OCP Global Summit, Strengthening AI Data Center Security with Caliptra
PUFsecurity, a subsidiary of eMemory Technology, was featured at Microsoft's Caliptra Workshop on Oct. 12, the opening day of the 2026 OCP Global Summit, which drew nearly 400 attendees. Its PUFrt received OCP S.A.F.E. Scope 3 approval after an independent assessment of its resistance to physical attacks such as fault injection and side-channel attacks, and is now listed on the OCP Marketplace. PUFrt provides the physical security foundation for Caliptra, an open-source hardware Root-of-Trust architecture, from key generation to chip mass-production testing. It has already been integrated into Caliptra products from ASPEED and security systems from several memory makers and networking chip vendors. The company says the milestone advances hardware security for cloud and AI infrastructure.
- Crypto vault deposits top $10 billion as lending risks draw regulatory scrutiny
Deposits into crypto lending vaults have risen from $4 billion at the start of last year to more than $10 billion, according to the Financial Times. Each vault is run by a 'curator' who selects lending strategies through smart contracts on DeFi platforms, sets risk limits and collects fees, with typical returns of 3% to 10% and riskier strategies reaching 20% or more. Risks include illiquid or hard-to-sell collateral, automatic liquidations, hacks and coding errors, while investors may focus on headline yields. Fintechs, digital asset treasury firms and hedge funds are among the main depositors, and Bitcoin lender Two Prime launched a vault on Pareto targeting 1.5% to 2% yields, with a minimum deposit of 5 WBTC and about $10 million of its own capital absorbing initial losses. U.S. and European regulators are examining whether existing rules should apply, and the SEC has questioned vaults that hold securities.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.