TLRY - US Cannabis Stocks Surge By 69%: Water Tower Research Report Breaks Down Top Performers | Benzinga
In a recent report from Water Tower Research, authored by analyst Jesse Redmond, the cannabis industry's current landscape paints an interesting, if optimistic, picture.
Impressive Gains In Cannabis Market
Since the US Department of Health and Human Services (HHS) hinted at potential changes to marijuana's classification in August, multi-state operators (MSOs) have skyrocketed by an astonishing 69.07%, while YOLO has enjoyed a solid 34.82% rise.
According to the report, this rally is driven by the optimism surrounding the reclassification of cannabis to Schedule III and the potential relief from the burdensome 280E tax for US-based cannabis operators.
Leaders In The Field
Among the top players in the industry, Ascend Wellness (OTC: AAWH) emerged as the front-runner, boasting an impressive 25.44% surge, followed closely by MariMed (OTC: MRMD) with a respectable 12.14% gain.