<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2024/03/curaleaf.jpeg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2024/03/curaleaf.jpeg"/></p>
<p>今年大麻股票暴跌，因为对该行业的担忧持续存在。AdvisorShares Pure US Cannabis ETF（MSOS）股价今年已下跌近 14%，距离今年最高点下跌超过 46%。</p>
<p>同样，Amplify Seymour Cannabis ETF（CNBS）和 ETFMG Alternative Harvest ETF（MJ）已从年初高点下跌超过 37%。这种价格走势意味着大麻股票已抹去几个月前的大部分涨幅。</p>
<p>Tilray Brands（TLRY）股价今年已下跌超过 26%，距离年初高点下跌超过 42%。该公司已成为一只 “堕落的天使”，因为这家公司在 2021 年曾以超过 67 美元的价格交易，现在成为以 1.70 美元交易的低价股。</p>
<p>Canopy Growth（CGC）股价也从 2021 年的 565 美元下跌至 5.29 美元，而 Curaleaf Holdings（CURLF）也从 18.34 美元的历史高点下跌至 2.75 美元。其他大公司如 Verano Holdings（VRNOF）、Cronos Group（CRON）和 Cresco Labs（CRLBF）也大幅下跌。</p>
<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2024/08/CURLF_2024-08-29_10-53-27.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2024/08/CURLF_2024-08-29_10-53-27.png"/></p>
<h2>美国大麻重新分类需要时间</h2>
<p>今年早些时候，由于美国监管政策的明朗化，大麻股票大幅上涨。</p>
<p>今年 5 月，乔·拜登总统和司法部着手将大麻重新分类为一种较不危险的药物，同时承认其医疗效益。</p>
<p>这是一项重要的举措，几年前最高法院裁定各州可以将大麻合法化。</p>
<p>自那时起未发生变化的是，美国缉毒局（DEA）仍维持其对产品的分类。这一分类的一个重要意外后果是，许多主流银行仍不向大麻公司提供服务。</p>
<p>此外，该行业公司之间的产品跨州运输变得更加困难。</p>
<p>因此，尽管拜登的声明对该行业是一件好事，但这些股票下跌是因为随之而来的事态。</p>
<p>在他的声明之后，该提议将由管理和预算办公室（OMB）审查，然后进行漫长的公开评论审查。最终，将移交给一名行政法官，这意味着这将是一个漫长的过程。</p>
<p>同时，该过程将取决于谁赢得 11 月的选举。如果唐纳德·特朗普获胜，那么他很可能会终止该过程。</p>
<h2>大麻银行监管陷入僵局</h2>
<p>大麻股票还因参议院多数党领袖查克·舒默发表积极声明而大幅上涨，他承诺提出一项大麻银行法案。</p>
<p>到目前为止，他尚未这样做，而且很可能不会，因为 11 月将举行选举。</p>
<p>市场意识到，即使该法案在参议院通过（需要 60 票），众议院发言人迈克·约翰逊也不太可能将其提交给众议院。</p>
<p>只有在参议院和众议院完全由民主党控制，且总统是民主党人的情况下，这样的法案才会通过。</p>
<h2>Tilray Brands、Curaleaf 和 Canopy Growth 的业绩</h2>
<p>这三只大麻股票也因其相对疲弱的财务业绩而大幅下跌，引发了对该行业的重大担忧。</p>
<p>最近的财务业绩显示，Tilray Brands 上个季度的收入增长了 25%，达到 2.29 亿美元。然而，这种增长虽然不错，但主要是因为其收购。</p>
<p>去年，该公司从 AB InBev 收购了几个啤酒品牌，本月又从 Molson Coors 购买了四家酿酒厂。该公司旨在成为一个在大麻和酒精饮料领域都有业务的多元化公司。</p>
<p>其大麻收入因收购 HEXO 和 Truss 而增长了 12%，达到 7100 万美元。截至今年，Tilray Brands 净亏损超过 2.2 亿美元。</p>
<p>另一方面，Curaleaf 上个季度的净收入为 3.43 亿美元，比一年前增长了 2%。它还亏损了超过 4890 万美元。截至 6 月的六个月内，收入增长了 2%，达到 6.81 亿美元，亏损为 9720 万美元。</p>
<p>Canopy Growth 也表明大麻业务正在放缓。其净收入为 6620 万美元，比 2023 年同期下降了 13.5%。净亏损超过 1.29 亿美元，自由现金流为负 5,570 万美元。</p>
<p>因此，这些结果表明大麻行业正经历艰难时期，我认为并非完全是监管的错。我也认为重新分类和大麻银行法案不会推动该行业。首先，美国和加拿大任何需要大麻产品的人都可以轻松获得。</p>
<p>该行业面临着激烈竞争和需求不及分析师预期的挑战。</p>

TLRY

<p>大麻股票，包括 Tilray Brands、Canopy Growth 和 Curaleaf，由于行业担忧和财务业绩疲软，今年大幅下跌。AdvisorShares Pure US Cannabis ETF 今年下跌近 14%，其中 Tilray 等主要参与者下跌了 26%，现在交易价格已跌至几美分。监管方面的挫折，包括大麻重新分类和银行监管的缓慢推进，加剧了行业困境，导致全行业出现重大损失</p>

<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2024/03/curaleaf.jpeg" alt="" original-src="https://invezz.com/wp-content/uploads/2024/03/curaleaf.jpeg"/></p>
<p>Cannabis stocks have crashed hard this year as concerns about the industry continued. The AdvisorShares Pure US Cannabis ETF (MSOS) stock has plunged by almost 14% this year and is down by over 46% from its highest point this year.</p>
<div class="lb-trans"><p>今年大麻股票暴跌，因为对该行业的担忧持续存在。AdvisorShares Pure US Cannabis ETF（MSOS）股价今年已下跌近 14%，距离今年最高点下跌超过 46%。</p>
</div><p>Similarly, the Amplify Seymour Cannabis ETF (CNBS) and the ETFMG Alternative Harvest ETF (MJ) have retreated by more than 37% from the year-to-date high. This price action means that cannabis stocks have erased most of the gains they made a few months ago.</p>
<div class="lb-trans"><p>同样，Amplify Seymour Cannabis ETF（CNBS）和 ETFMG Alternative Harvest ETF（MJ）已从年初高点下跌超过 37%。这种价格走势意味着大麻股票已抹去几个月前的大部分涨幅。</p>
</div><p>Tilray Brands (TLRY) stock price has fallen by over 26% this year and is down by over 42% from the year-to-date high. It has become a fallen angel as the company, which was trading at over $67 in 2021 is now a penny stock that trades at $1.70.</p>
<div class="lb-trans"><p>Tilray Brands（TLRY）股价今年已下跌超过 26%，距离年初高点下跌超过 42%。该公司已成为一只 “堕落的天使”，因为这家公司在 2021 年曾以超过 67 美元的价格交易，现在成为以 1.70 美元交易的低价股。</p>
</div><p>Canopy Growth (CGC) share price has also fallen from $565 in 2021 to $5.29 while Curaleaf Holdings (CURLF) has retreated from a record high of $18.34 to $2.75. Other large companies like Verano Holdings (VRNOF), Cronos Group (CRON), and Cresco Labs (CRLBF) have also slumped.</p>
<div class="lb-trans"><p>Canopy Growth（CGC）股价也从 2021 年的 565 美元下跌至 5.29 美元，而 Curaleaf Holdings（CURLF）也从 18.34 美元的历史高点下跌至 2.75 美元。其他大公司如 Verano Holdings（VRNOF）、Cronos Group（CRON）和 Cresco Labs（CRLBF）也大幅下跌。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2024/08/CURLF_2024-08-29_10-53-27.png" alt="" original-src="https://invezz.com/wp-content/uploads/2024/08/CURLF_2024-08-29_10-53-27.png"/></p>
<h2>US cannabis reclassification to take time</h2>
<div class="lb-trans"><h2>美国大麻重新分类需要时间</h2>
</div><p>Cannabis stocks surged hard earlier this year because of the rising regulatory clarity in the United States.</p>
<div class="lb-trans"><p>今年早些时候，由于美国监管政策的明朗化，大麻股票大幅上涨。</p>
</div><p>In May, President Joe Biden and the Justice Department moved to reclassify cannabis to a less dangerous drug while also acknowledging its medical benefits.</p>
<div class="lb-trans"><p>今年 5 月，乔·拜登总统和司法部着手将大麻重新分类为一种较不危险的药物，同时承认其医疗效益。</p>
</div><p>That was an important step and it came a few years after the Supreme Court ruled that states could make cannanis legal.</p>
<div class="lb-trans"><p>这是一项重要的举措，几年前最高法院裁定各州可以将大麻合法化。</p>
</div><p>What has not changed since then has been that the Drug Enforcement Administration (DEA) has maintained its classification of the product. A key unintended consequence of this classification is that many mainstream banks still don’t offer services to cannabis companies.</p>
<div class="lb-trans"><p>自那时起未发生变化的是，美国缉毒局（DEA）仍维持其对产品的分类。这一分类的一个重要意外后果是，许多主流银行仍不向大麻公司提供服务。</p>
</div><p>Additional, it has become more difficult for companies in the industry to move their products between state lines.</p>
<div class="lb-trans"><p>此外，该行业公司之间的产品跨州运输变得更加困难。</p>
</div><p>Therefore, while Biden’s statement was a good one for the industry, these stocks have plunged because of what follows next.</p>
<div class="lb-trans"><p>因此，尽管拜登的声明对该行业是一件好事，但这些股票下跌是因为随之而来的事态。</p>
</div><p>After his statement, the proposal will be reviewed by the Office of the Management of Budget (OMB) and then a lengthy publi comment review. Finally, it will move to an administration judge, meaning that it will take a lengthy process.</p>
<div class="lb-trans"><p>在他的声明之后，该提议将由管理和预算办公室（OMB）审查，然后进行漫长的公开评论审查。最终，将移交给一名行政法官，这意味着这将是一个漫长的过程。</p>
</div><p>At the sam time, the process will depend on who wins the November election. If Donald Trump wins, then, there are high chances that he will end the process.</p>
<div class="lb-trans"><p>同时，该过程将取决于谁赢得 11 月的选举。如果唐纳德·特朗普获胜，那么他很可能会终止该过程。</p>
</div><h2>Cannabis banking regulation stuck</h2>
<div class="lb-trans"><h2>大麻银行监管陷入僵局</h2>
</div><p>Cannabis stocks also surged because of the positive statement by Chuck Schumer, the Senate Majority Leader, who committed to table a cannabis banking bill.</p>
<div class="lb-trans"><p>大麻股票还因参议院多数党领袖查克·舒默发表积极声明而大幅上涨，他承诺提出一项大麻银行法案。</p>
</div><p>So far, he has not done it and there is a high chance that he will not since the election will happen in November.</p>
<div class="lb-trans"><p>到目前为止，他尚未这样做，而且很可能不会，因为 11 月将举行选举。</p>
</div><p>The market realizes that even if it passes the Senate, which it needs 60 votes, there is zero chance that the House Speaker, Mike Johnson, will bring it to the House of Representatives.</p>
<div class="lb-trans"><p>市场意识到，即使该法案在参议院通过（需要 60 票），众议院发言人迈克·约翰逊也不太可能将其提交给众议院。</p>
</div><p>Such a bill would pass only if the Senate and the House of Representatives are fully controlled by Democrats and if the President is a Democrat.</p>
<div class="lb-trans"><p>只有在参议院和众议院完全由民主党控制，且总统是民主党人的情况下，这样的法案才会通过。</p>
</div><h2>Tilray Brands, Curaleaf, and Canopy Growth results</h2>
<div class="lb-trans"><h2>Tilray Brands、Curaleaf 和 Canopy Growth 的业绩</h2>
</div><p>The three cannabis stocks have also crashed because of their relatively weak financial results, which have led to substantial concerns about the industry.</p>
<div class="lb-trans"><p>这三只大麻股票也因其相对疲弱的财务业绩而大幅下跌，引发了对该行业的重大担忧。</p>
</div><p>The most recent financial results showed that Tilray Brands revenue increased by 25% last quarter to $229 million. This growth, however, while good, was mostly because of its acquisitions.</p>
<div class="lb-trans"><p>最近的财务业绩显示，Tilray Brands 上个季度的收入增长了 25%，达到 2.29 亿美元。然而，这种增长虽然不错，但主要是因为其收购。</p>
</div><p>Last year, the company acquired several beer brands from AB InBev and this month, it bought four brewerises from Molson Coors. The firm aims to become a more diversified company with a presence in the cannabis and alcoholic beverages.</p>
<div class="lb-trans"><p>去年，该公司从 AB InBev 收购了几个啤酒品牌，本月又从 Molson Coors 购买了四家酿酒厂。该公司旨在成为一个在大麻和酒精饮料领域都有业务的多元化公司。</p>
</div><p>Its cannabis revenue rose by 12% to $71 million because of its buyout of HEXO and Truss. For the year, Tilray Brands had a net loss of over $220 million.</p>
<div class="lb-trans"><p>其大麻收入因收购 HEXO 和 Truss 而增长了 12%，达到 7100 万美元。截至今年，Tilray Brands 净亏损超过 2.2 亿美元。</p>
</div><p>Curaleaf, on the other hand, reported net revenues of $343 million in the last quarter, a 2% increase from what it made a year earlier. It also made a big loss of over $48.9 million. For the six months to June, revenue rose by 2% to $681 million while its loss was $97.2 million.</p>
<div class="lb-trans"><p>另一方面，Curaleaf 上个季度的净收入为 3.43 亿美元，比一年前增长了 2%。它还亏损了超过 4890 万美元。截至 6 月的六个月内，收入增长了 2%，达到 6.81 亿美元，亏损为 9720 万美元。</p>
</div><p>Canopy Growth also demonstrated that the cannabis business was slowing. Its net revenue came in at $66.2 million, a 135 drop from the same period in 2023. Its net loss was over $129 million while its free cash flow was minus $55.7 million.</p>
<div class="lb-trans"><p>Canopy Growth 也表明大麻业务正在放缓。其净收入为 6620 万美元，比 2023 年同期下降了 13.5%。净亏损超过 1.29 亿美元，自由现金流为负 5,570 万美元。</p>
</div><p>Therefore, these results demonstrate that the cannabis industry is going through a rough patch, and I believe that regulations are not to blame. I also believe that reclassification and the cannabis banking bill will not supercharge this industry. For one, anyone who needs cannabis products in the United States and Canada can easily get it.</p>
<div class="lb-trans"><p>因此，这些结果表明大麻行业正经历艰难时期，我认为并非完全是监管的错。我也认为重新分类和大麻银行法案不会推动该行业。首先，美国和加拿大任何需要大麻产品的人都可以轻松获得。</p>
</div><p>The industry is facing challenges like stiff competition and the fact that demand is not as high as what analysts were expecting.</p>
<div class="lb-trans"><p>该行业面临着激烈竞争和需求不及分析师预期的挑战。</p>
</div><p>The post Here’s why Tilray Brands, Canopy Growth, Curaleaf stocks have crashed appeared first on Invezz</p>

以下是 Tilray Brands、Canopy Growth 和 Curaleaf 股票暴跌的原因