<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，因為對該行業的擔憂持續存在。AdvisorShares Pure US Cannabis ETF（MSOS）股價今年已下跌近 14%，距離今年最高點下跌超過 46%。</p>
<p>同樣，Amplify Seymour Cannabis ETF（CNBS）和 ETFMG Alternative Harvest ETF（MJ）已從年初高點下跌超過 37%。這種價格走勢意味着大麻股票已抹去幾個月前的大部分漲幅。</p>
<p>Tilray Brands（TLRY）股價今年已下跌超過 26%，距離年初高點下跌超過 42%。該公司已成為一隻 “墮落的天使”，因為這家公司在 2021 年曾以超過 67 美元的價格交易，現在成為以 1.70 美元交易的低價股。</p>
<p>Canopy Growth（CGC）股價也從 2021 年的 565 美元下跌至 5.29 美元，而 Curaleaf Holdings（CURLF）也從 18.34 美元的歷史高點下跌至 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>美國大麻重新分類需要時間</h2>
<p>今年早些時候，由於美國監管政策的明朗化，大麻股票大幅上漲。</p>
<p>今年 5 月，喬·拜登總統和司法部着手將大麻重新分類為一種較不危險的藥物，同時承認其醫療效益。</p>
<p>這是一項重要的舉措，幾年前最高法院裁定各州可以將大麻合法化。</p>
<p>自那時起未發生變化的是，美國緝毒局（DEA）仍維持其對產品的分類。這一分類的一個重要意外後果是，許多主流銀行仍不向大麻公司提供服務。</p>
<p>此外，該行業公司之間的產品跨州運輸變得更加困難。</p>
<p>因此，儘管拜登的聲明對該行業是一件好事，但這些股票下跌是因為隨之而來的事態。</p>
<p>在他的聲明之後，該提議將由管理和預算辦公室（OMB）審查，然後進行漫長的公開評論審查。最終，將移交給一名行政法官，這意味着這將是一個漫長的過程。</p>
<p>同時，該過程將取決於誰贏得 11 月的選舉。如果唐納德·特朗普獲勝，那麼他很可能會終止該過程。</p>
<h2>大麻銀行監管陷入僵局</h2>
<p>大麻股票還因參議院多數黨領袖查克·舒默發表積極聲明而大幅上漲，他承諾提出一項大麻銀行法案。</p>
<p>到目前為止，他尚未這樣做，而且很可能不會，因為 11 月將舉行選舉。</p>
<p>市場意識到，即使該法案在參議院通過（需要 60 票），眾議院發言人邁克·約翰遜也不太可能將其提交給眾議院。</p>
<p>只有在參議院和眾議院完全由民主黨控制，且總統是民主黨人的情況下，這樣的法案才會通過。</p>
<h2>Tilray Brands、Curaleaf 和 Canopy Growth 的業績</h2>
<p>這三隻大麻股票也因其相對疲弱的財務業績而大幅下跌，引發了對該行業的重大擔憂。</p>
<p>最近的財務業績顯示，Tilray Brands 上個季度的收入增長了 25%，達到 2.29 億美元。然而，這種增長雖然不錯，但主要是因為其收購。</p>
<p>去年，該公司從 AB InBev 收購了幾個啤酒品牌，本月又從 Molson Coors 購買了四家釀酒廠。該公司旨在成為一個在大麻和酒精飲料領域都有業務的多元化公司。</p>
<p>其大麻收入因收購 HEXO 和 Truss 而增長了 12%，達到 7100 萬美元。截至今年，Tilray Brands 淨虧損超過 2.2 億美元。</p>
<p>另一方面，Curaleaf 上個季度的淨收入為 3.43 億美元，比一年前增長了 2%。它還虧損了超過 4890 萬美元。截至 6 月的六個月內，收入增長了 2%，達到 6.81 億美元，虧損為 9720 萬美元。</p>
<p>Canopy Growth 也表明大麻業務正在放緩。其淨收入為 6620 萬美元，比 2023 年同期下降了 13.5%。淨虧損超過 1.29 億美元，自由現金流為負 5,570 萬美元。</p>
<p>因此，這些結果表明大麻行業正經歷艱難時期，我認為並非完全是監管的錯。我也認為重新分類和大麻銀行法案不會推動該行業。首先，美國和加拿大任何需要大麻產品的人都可以輕鬆獲得。</p>
<p>該行業面臨着激烈競爭和需求不及分析師預期的挑戰。</p>

TLRY

<p>大麻股票，包括 Tilray Brands、Canopy Growth 和 Curaleaf，由於行業擔憂和財務業績疲軟，今年大幅下跌。AdvisorShares Pure US Cannabis ETF 今年下跌近 14%，其中 Tilray 等主要參與者下跌了 26%，現在交易價格已跌至幾美分。監管方面的挫折，包括大麻重新分類和銀行監管的緩慢推進，加劇了行業困境，導致全行業出現重大損失</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，因為對該行業的擔憂持續存在。AdvisorShares Pure US Cannabis ETF（MSOS）股價今年已下跌近 14%，距離今年最高點下跌超過 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>同樣，Amplify Seymour Cannabis ETF（CNBS）和 ETFMG Alternative Harvest ETF（MJ）已從年初高點下跌超過 37%。這種價格走勢意味着大麻股票已抹去幾個月前的大部分漲幅。</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）股價今年已下跌超過 26%，距離年初高點下跌超過 42%。該公司已成為一隻 “墮落的天使”，因為這家公司在 2021 年曾以超過 67 美元的價格交易，現在成為以 1.70 美元交易的低價股。</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）股價也從 2021 年的 565 美元下跌至 5.29 美元，而 Curaleaf Holdings（CURLF）也從 18.34 美元的歷史高點下跌至 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>美國大麻重新分類需要時間</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>今年早些時候，由於美國監管政策的明朗化，大麻股票大幅上漲。</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，喬·拜登總統和司法部着手將大麻重新分類為一種較不危險的藥物，同時承認其醫療效益。</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>這是一項重要的舉措，幾年前最高法院裁定各州可以將大麻合法化。</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>自那時起未發生變化的是，美國緝毒局（DEA）仍維持其對產品的分類。這一分類的一個重要意外後果是，許多主流銀行仍不向大麻公司提供服務。</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，該行業公司之間的產品跨州運輸變得更加困難。</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，儘管拜登的聲明對該行業是一件好事，但這些股票下跌是因為隨之而來的事態。</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>在他的聲明之後，該提議將由管理和預算辦公室（OMB）審查，然後進行漫長的公開評論審查。最終，將移交給一名行政法官，這意味着這將是一個漫長的過程。</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>同時，該過程將取決於誰贏得 11 月的選舉。如果唐納德·特朗普獲勝，那麼他很可能會終止該過程。</p>
</div><h2>Cannabis banking regulation stuck</h2>
<div class="lb-trans"><h2>大麻銀行監管陷入僵局</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>大麻股票還因參議院多數黨領袖查克·舒默發表積極聲明而大幅上漲，他承諾提出一項大麻銀行法案。</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>到目前為止，他尚未這樣做，而且很可能不會，因為 11 月將舉行選舉。</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>市場意識到，即使該法案在參議院通過（需要 60 票），眾議院發言人邁克·約翰遜也不太可能將其提交給眾議院。</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>只有在參議院和眾議院完全由民主黨控制，且總統是民主黨人的情況下，這樣的法案才會通過。</p>
</div><h2>Tilray Brands, Curaleaf, and Canopy Growth results</h2>
<div class="lb-trans"><h2>Tilray Brands、Curaleaf 和 Canopy Growth 的業績</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>這三隻大麻股票也因其相對疲弱的財務業績而大幅下跌，引發了對該行業的重大擔憂。</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>最近的財務業績顯示，Tilray Brands 上個季度的收入增長了 25%，達到 2.29 億美元。然而，這種增長雖然不錯，但主要是因為其收購。</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，該公司從 AB InBev 收購了幾個啤酒品牌，本月又從 Molson Coors 購買了四家釀酒廠。該公司旨在成為一個在大麻和酒精飲料領域都有業務的多元化公司。</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>其大麻收入因收購 HEXO 和 Truss 而增長了 12%，達到 7100 萬美元。截至今年，Tilray Brands 淨虧損超過 2.2 億美元。</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 上個季度的淨收入為 3.43 億美元，比一年前增長了 2%。它還虧損了超過 4890 萬美元。截至 6 月的六個月內，收入增長了 2%，達到 6.81 億美元，虧損為 9720 萬美元。</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 也表明大麻業務正在放緩。其淨收入為 6620 萬美元，比 2023 年同期下降了 13.5%。淨虧損超過 1.29 億美元，自由現金流為負 5,570 萬美元。</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，這些結果表明大麻行業正經歷艱難時期，我認為並非完全是監管的錯。我也認為重新分類和大麻銀行法案不會推動該行業。首先，美國和加拿大任何需要大麻產品的人都可以輕鬆獲得。</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>該行業面臨着激烈競爭和需求不及分析師預期的挑戰。</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