TCNNF

Tiaan

It's interesting to me to see TCNNF as the worst performer among the tier 1s today. They were down over 7% at one point before rebounding slightly into the close. It's like the exact opposite of yesterday where they were the only green name among a sea of red MSOs

volckerwasright

I’ll be looking to close my TCNNF-TLRY pair trade tomorrow. I expect the puts to bid drastically under intrinsic value, so I’m probably going to put my market maker hat on and buy 2,000 shares TLRY, holding until closer to expiry.

HigherGroundHoonigan

This is very much true for the other 2 in the top three though. Trulieve: * \~234 stores. 8 States. * \~167 (72%) are in Florida * 11 new stores opened last year * 10 of which were outside of Florida (Ohio, Arizona, Georgia). That shows a growth plan focusing on states other than Florida. So that right there, is part of your answer. * Pending Approval for Cultivation, Manufacturing, and Dist. in Texas (no stores currently). Green Thumb: * 113 Stores, 13 states (5 more than Trulieve) * 20 of these stores are in Florida and face the exact same issue that you cited for trulieve * 11 are in Nevada, which faces a much worse issue than Florida due to the massive drop in Vegas tourism * 6-7 are in Massachusetts. Mass. has a new bill which increases the number of licenses allowed and promotes the opening of more small businesses. This will lead to more competition and (once S3 for AU) price compression CureLeaf: * 160 stores, 12 states * 71 stores in Florida (44% versus TCNNF's 72%, but still very high) So, Trulieve is definitely in fewer states than the other 2, but only by a handful. Yes they are majority allocated in Florida. This can certainly be a weakness, but it can also be a strength if things turn around in Florida (future adult use, improved medical process/cost, increase acceptance/use due to federal rescheduling). It is also pending approval in Texas. Green Thumb is already active in Texas, but they did that through an acquisition. Green Thumb and Curaleaf are most definitely more diversified in their states. Green Thumb also has a very positive net income. Trulieve also has substantially more stores in total (almost all in Florida). Regarding growth, Trulieve can leverage their 256M in Cash to acquire operators in other states and expand their footprint, as the others have done. They can also apply and be granted licenses in other states just as they have already done (eg. Texas). Regarding Florida, one of two things will happen: 1. Things don't get better in Florida and they begin shutting down unprofitable stores (which they have likely been dragging on in anticipation of government reform causing a surge in use) 2. Things DO get better in Florida and the scale of use and the scale of their dominance in market-share there are highly positive. All that to say, GTI clearly has a better balance sheet and the better buy. But there is plenty of opportunity for growth for Trulieve and I wouldn't say it's a "Bad buy". I just would hedge my investment through other MSOs or an ETF

UsedState7381

I wouldn't be surprised at all if Trulieve ends up being the first to get registered by the DEA and allowed to uplist, given Kim's connections with the WH. And she has earned that tbh. At the same time, I think this is just the ETF repositioning with a much stronger TCNNF bias now, look at that Curaleaf dump. I don't know, but I think we will be discovering soon.

UsedState7381

Pretty bullish now that we finally got schedule 3(even if it's just partial) but I want to see the whole plant rescheduled and these MSOs treated as federally LEGAL businesses so they can uplist. If they do uplist, I'll split my MSOS shares into GTI and TCNNF since I will have no reason to hold the ETF anymore.

Thumbszilla

From Gemini: The outlook for the AdvisorShares Pure US Cannabis ETF (**MSOS**) is currently dominated by a rapid-fire series of regulatory and financial milestones. Here are the key upcoming catalysts scheduled for the remainder of 2026: ## **1. Q1 2026 Earnings Season (May)** The top holdings in MSOS—the major Multi-State Operators (MSOs)—are scheduled to report their first-quarter results in early May. These calls will likely focus on "Day 1" impacts of the recent medical rescheduling and updated guidance on **Section 280E** tax savings. * **Curaleaf (CURLF):** May 5, 2026 * **Trulieve (TCNNF):** May 7, 2026 * **Green Thumb (GTBIF) / Verano (VRNOF):** Expected mid-May 2026 ## **2. Broader Rescheduling Hearings (June – July)** While the Department of Justice (DOJ) finalized the move of **medical cannabis** to Schedule III on April 23, 2026, a second, more significant phase is now in motion: * **June 29, 2026:** An expedited administrative hearing begins to consider reclassifying **all** marijuana (including adult-use/recreational) to Schedule III. * **July 15, 2026:** The mandated deadline for this hearing to conclude. A positive outcome here would theoretically apply federal tax relief to the entire revenue stream of MSOs, not just the medical portion. ## **3. The "Hemp Cliff" (November 12, 2026)** The **Continuing Appropriations and Extensions Act of 2026 (CAEA)** contains a "strict reinterpretation" of hemp that is a major tailwind for MSOs. * **The Impact:** This law narrows the definition of legal hemp, effectively banning many psychoactive hemp-derived products (like Delta-8) that have competed with licensed dispensaries. * **The Catalyst:** This is expected to drive significant market share back to the MSOs held within the MSOS ETF by removing "gray market" competition. ## **4. Uplisting & Institutional Inflows** With the finalization of Schedule III, the "custody hurdle" for major banks and institutional investors is beginning to lower. * **Exchange Uplisting:** Investors are watching for any moves by the TSX or potentially U.S. exchanges (NYSE/NASDAQ) to allow MSOs to uplist. * **SAFER Banking Act:** While rescheduling provides the regulatory framework, the passage of the SAFER Banking Act remains the primary "missing link" for full U.S. exchange access and traditional credit card processing. > **Note on 280E Relief:** Analysts estimate that the full implementation of Schedule III could improve EBITDA margins for major MSOs by **10–20 percentage points** due to the removal of the 280E tax penalty, which currently prevents cannabis businesses from deducting standard operating expenses. > What specific aspect of the MSOS holdings are you tracking most closely right now—is it the regulatory side or the technical price action?

DA2710

BULL just shed ATM overhang and doing buybacks MSTR obviously TCNNF will be the most well known brand in cannabis

volckerwasright

I took that long/short pair trade I posted Saturday with a shorter time window, 6/18 TLRY 10P and TCNNF shares

Phil-OSOPHY

Why is TCNNF up so much more than GTBIFF and recovered after the dip. Is this because TRUL is set up more for medical than GTBIF?

Thumbszilla

Uhhh... $MSOS is surely about to start running.  Check out the list of upcoming earnings reports where the underlying companies of $MSOS should be flush with extra cash due to their varying degrees of last week's 280E end and possible upcoming refunds.  Guidance for these companies will likely be insane.  None of the Canadian companies benefit from it.  My prediction is that it's likely the last chance to get $MSOS shares in the $4.00's this week! $VRNO (6% of $MSOS): April 30th, 2026 $CURLF (28% of $MSOS): May 5th, 2026 $GTBIF (19% of $MSOS): May 6th, 2026 $TCNNF (25% of $MSOS): May 7th, 2026 $CRLBF (6% of $MSOS): May 8th, 2026 $GLASF (7% of $MSOS): May 12th, 2026 $TSNDF (4% of $MSOS): May 14th, 2026

Thumbszilla

Uhhh... MSOS is surely about to start running.  Check out the list of upcoming earnings reports where the underlying companies of MSOS should be flush with extra cash due to their varying degrees of last week's 280E end and possible upcoming refunds.  Guidance for these companies will likely be insane.  None of the Canadian companies benefit from it.  My prediction is that it's likely the last chance to get MSOS shares in the $4.00's this week! VRNO (6% of MSOS): April 30th, 2026 CURLF (28% of MSOS): May 5th, 2026 GTBIF (19% of MSOS): May 6th, 2026 TCNNF (25% of MSOS): May 7th, 2026 CRLBF (6% of MSOS): May 8th, 2026 GLASF (7% of MSOS): May 12th, 2026 TSNDF (4% of MSOS): May 14th, 2026

ShellfishJelloFarts

!p TCNNF

volckerwasright

EX long TCNNF shares, long TLRY 9/18 10P or CGC 7/17 3P

LandStander420

Delusional is comparing TCNNF to MySpace. We’ve been consuming cannabis for 2,000 years and 2,000 years from now we’ll still be consuming cannabis. lol

LandStander420

TCNNF is a favorite for government contracts

Ok-Replacement9595

Sold some VFF for 10% to get in on the TCNNF dip. Their next earnings without 280e will be worth it.

Benromaniac

There’s a 9% gap between TCNNF and GTBIF right now.

TroubledAcorn

The market can do whatever it wants but this time its not a sell news event. The fact that TCNNF is red today when 85% of their business is medical is comical. This has been the best sector to trade in for years and longs have been burned. That is finally going to change soon. Longs will have their day soon

manualCAD

Actually bought some TCNNF for the first time in actual years

rickny0

There’s marijuana rescheduling new finally today. MSOS, CRLBF, GTBIF, TCNNF, all exploding up today.

16semesters

> and if MSOS/GTBIF/TCNNF/CURLF can stop getting taxed to death OP made up that part about taxes. This doesn't effect taxes whatsoever. It's about making research easier.

wang4wang

OK, the business model is still ugly, but acting like rescheduling is nothing is dumb imo. 280E was absolutely crushing these names, and if MSOS/GTBIF/TCNNF/CURLF can stop getting taxed to death (finally), that’s not some tiny detail lol

UsedState7381

It was not for nothing that JP Morgan was buying TCNNF and GTBIF yesterday, those fuckers always knows.

tantedbutthole

I’m still holding MSOS, TLRY, CGC, CURLF, GTBIF, and TCNNF. I’m down like 50% but I’ll hold to the moon

volckerwasright

“There's some buying thru JPM on GTI & TRUL today. Interesting and potentially big custody news considering JPM's restriction on U.S. cannabis on CSE/OTC implemented in '21. I remember it well because they held ~1% of us back then and flogged in all at once.” $MSOS $TCNNF $GTBIF https://x.com/sammyj_19/status/2046642182283493609?s=20

LandStander420

Profitable, low float, well managed. That’s K.R. What else you got Tilray!?!? Good luck with that train wreck of nonsense. TCNNF & GTBIF

heliumbox

Well I decided to stick to my plan instead of my emotions, dumped half my TCNNF at 50% loss. 4/20 hype didn't play out (big surprise). Down to just GTBIF and a much reduced TCNNF. No chatter, no indication of anything changing, just rising debt and compression while macro market booms.

RevolutionaryPlum389

Wow no mentioning of TCNNF or GTI or GLASF. This guy really knows nothing 😂

heliumbox

Counter to my usual bearishness... I'm getting a feeling in my plums we could break out? These charts are *tighttt*, volume is non existent, and it'll take barely anything to break out. 10 average volume on GTBIF 240k, TCNNF 200k... this is abnormally low even for this sector. A push back to MSOS $5 seems possible with the market ripping as it has been. If we keep ignoring bad news even this sector might join in.

AlbertiApop2029

TCNNF - Trulieve Big player in the Florida Market. In for 100 shares. Very nice stores, knowledgeable staff. Some DD: [Florida Cannabis Business: Navigating the Vertical Market](https://www.leafsheets.com/facts/florida-cannabis-business-navigating-the-vertical-market) [They have many stores here.](https://fldispensaries.com/trulieve-florida-dispensaries-delivery-menu-discounts-reviews-mmtc/) [They do have some debt, but I've heard the CEO is pretty good.](https://finance.yahoo.com/quote/TCNNF/balance-sheet/) Happy 4/20! Could check out [CURLF - Curaleaf ](https://ir.curaleaf.com/)too, I just liked [Trulieve](https://investors.trulieve.com/) better.

AlbertiApop2029

[NASA will roll Artemis 2 moon rocket out to the launch pad on March 19](https://www.space.com/space-exploration/artemis/nasa-will-roll-artemis-2-moon-rocket-back-to-the-launch-pad-on-march-20) This will be the year of the Space Mob! I saw a Starlink commercial on TV the other day. ASTS, PL, ONDS, UMAC, AMPX, RKLB, TSSI, FLY, JOBY, just check them out. SpaceX ipo coming, this may hurt some of these stocks or help, I'm undecided. \---- 4/20 bet plus rescheduling cannabis TCNNF. I visited today and it's legit, clean, good knowledgeable staff. They are a solid player in the FL landscape. In for 100 shares.

hambone_83

More DK buys:  Added to  ([**MSOS**](https://www.thestreet.com/quote/MSOS))  $3.75 and  ([**TCNNF**](https://www.thestreet.com/quote/TCNNF))  $6.16.

heliumbox

I gave up, I am down to just TCNNF and GTBIF and at the very least TCNNF is on a ticking clock til the end of April, then its getting cleared from the account. I check here once every couple weeks and its always this same ghost town. 38 comments at almost 2PM. What a disaster. Anyone who still has hope here must just be doing opioids and living in a dream cloud, not cannabis. As usual there is just always something more important going on, Epstine shit still not resolved, now war in Iran. This sector is forever the carrot. And really 98% of these companies financials are trash, the economy is doing terrible, the growth in these names is pathetic. There is basically no reason to invest in this sector whatsoever other than the lottery ticket that is "reform".

volckerwasright

Doug is still pumping. "We have been aggressively buying $MSOS $GLASF $TCNNF $GTBIF and $TSNDF" "We expect rescheduling to be announced imminently. Cannabis investors have been taken to the woodshed and beat up over the last five years and even recently (despite the initial statement by @potus that he is recommending rescheduling)." I think his "confusion" at why anyone would sell on EO day is laughable considering he was first in line to sell, and was dunking on Twitter longs. For anyone new, Doug is a whale who periodically pumps and dumps this sector.

heliumbox

I dumped all my CRON, finally dumped IIPR: both dead money. CRON: never moves, allergic to $3, even if we hit a hype cycle its going to under perform. IIPR: ridiculous dividend but the share price just keeps getting ripped into, false gains. Next up TCNNF: far to much debt, far to much risk tied to Florida exposure/vote, huge tax liability, stalled growth. Looking to exit entire position by the end of April, hoping to sell half at $9 other at $10 from some random hype cycle but if nothing by the end of April... I'm out. That'll leave me just GTBIF and despite their resilience... they can't do it alone, so sick of "the best" being dragged down by a sector that has so many problems. I'll move to the "best" in another sector and just walk away from this forever. I haven't decided my move yet for GTBIF... but its a ticking clock.

Tiaan

Swapped some TCNNF for VRNO. Seems like a decent bet with Virginia coming online this year

FoodCooker62

From the top of my head a quick list of companies based on cash flow, a solid balance sheet, organic revenue growth, no excessive dilution:  Canada: HITI, VFF, Rubicon, Decibel, perhaps Auxly  US: GTBIF, TCNNF, perhaps Cresco.  There's almost certainly more but these are the ones i have some experience with analyzing. Im not well known wirh US MSOS. Avoid the meme names like CGC, TLRY like the plague. 

Complete-Ad3742

TCNNF

tikichik

I don’t know if this was a glitch, last night TCNNF went down to .0001 a share. Shortly after went up to over $60 a share. This was also Schwab.

LandStander420

She would have to bounce a hundred for me to break even. Fortunately I only lost 1k in a wash sale. I put all my power into GTI & TCNNF

RevolutionaryPlum389

I went back and studied the timing of major announcements coming out of the Trump administration, and the pattern is hard to ignore. The executive order was announced on the exact same day Congress mandated the release of the Epstein files, December 19th. We already know there are millions of pages still under review, and the administration has openly admitted it needs “a few more weeks” for redactions. That delay isn’t random. Once the final tranche of documents is released, I expect Trump to immediately move to formalize Schedule III into law, not just as policy, but as a media counterweight. This is how narratives get buried. Big revelations are rarely allowed to stand alone. Notice how Nigeria was bombed on Christmas Day over oil, another example of how global events are conveniently timed to dominate headlines and redirect attention. Markets react faster than the public connects dots. On that basis, I loaded up on GTI and TCNNF.

Draphippo

TCNNF (Trulieve) upon Bondi finalizing cannabis rescheduling and possible rec use in Florida. 🚀easy 5 bagger.

MadOblivion

Today will be interesting. MSOX to maximize profit but risk volatility, MSOS=less volatility but less profit. Or you could invest in individual companies like TCNNF or others. CNBS is also a good ETF for MSO's but has a much higher entry cost but i do like the MSO positions they hold. MSO=Multi State Operator

MadOblivion

280e tax burden GONE, no longer taxed as a schedule 1 product. Medical Research will explode and medical Cannabis Companies will provide the plants for that research. Trulieve AKA TCNNF already work with several Universities. International commerce is now a real option for exports. Market manipulators might try to trigger stop losses but i doubt that will effect long term investments.

AmDazed

It's not about the IRS "erasing" what they already have; it's about the billions they haven't collected yet. The top MSOs like $TCNNF and $GTBIF are currently carrying massive "Uncertain Tax Positions" on their balance sheets—this is cash they’ve set aside but haven't actually paid to the IRS while they challenge 280E. Once Schedule III is final, those liabilities can be reversed, instantly padding the bottom line. Plus, Trulieve already proved it's possible—they actually got $113M in physical refund checks from the IRS for 2019-2021 by filing "protective claims." Rescheduling makes those claims 10x stronger. The IRS isn't being "nice"; they're being forced to follow a tax code that legally can't apply to Schedule III drugs.

AmDazed

It's not about the IRS "erasing" what they already have; it's about the billions they haven't collected yet. The top MSOs like $TCNNF and $GTBIF are currently carrying massive "Uncertain Tax Positions" on their balance sheets—this is cash they’ve set aside but haven't actually paid to the IRS while they challenge 280E. Once Schedule III is final, those liabilities can be reversed, instantly padding the bottom line. Plus, Trulieve already proved it's possible—they actually got $113M in physical refund checks from the IRS for 2019-2021 by filing "protective claims." Rescheduling makes those claims 10x stronger. The IRS isn't being "nice"; they're being forced to follow a tax code that legally can't apply to Schedule III drugs.

AmDazed

People see a 27% drop and assume the news was bad, but they’re missing the forest for the trees. This is a classic 'sell the news' event after a 50% run-up on rumors. The market is panicking a little because it didn't get instant 'Full Legalization,' but **the smart money knows that tripling your profit by fixing the tax code is worth way more than being able to take a credit card at the register.** For the first time in a decade, $TCNNF and the other MSOs aren't just 'selling weed'... they are finally allowed to **keep the money** they make. The prohibition tax is dead, the competition is getting outlawed, and the cash flow is about to explode. I'll take that fundamental reality over a one-day trading glitch any day.

heliumbox

I grabbed some TCNNF after it dumped 15%? and still managed to lose 10%. Absolutely unhinged price action.

heliumbox

CBD hemp good news : RYM down Medical good news: TCNNF down GTI goes up the least, falls as hard with the rest

personman_76

Everybody invest in Oklahoma right now, holy money maker. I know a few places that are great, but avoid investing in CURLF and TCNNF, they're not likely to get past state legislatures for a few years and start producing. Oklahoma has a moratorium on new growers until August, so the big players here are the ones that are likely to stay on top. Invest in towns like Noble, or Moore, or Norman. There's a lot of industrial professors here and growers a few miles away, we grow 32x the amount of weed needed for the state consumption and are absolutely going to explode when it's allowed between states

BrokenAdventures

The fact that MSOS/TCNNF are down \~12% and Tilray is up 7% goes to show how much the lack of marijuana, and the strong presence of CBD references, impacts trading.

OorvanVanGogh

With 280E gone, GTBIF and TCNNF are trading at 7.0x forward earnings. Deep value territory. Lost a bunch on my FOMO buys today, but very positive about future prospects.

greenbelieve

The Bread Guy 🤝 TCNNF Moon Trulieve shareholders 🤝

rickny0

Today is cannabis day as an executive order is finally signed to move it to schedule 3. GTBIF , MSOS, are still historically low, not even back to pre-November levels. I expect a moonshot today. I’m in MSOS, MSOX, TCNNF and GTBIF

ComprehensiveKiwi489

I've been waiting for this for a while - I bought my weed stocks mainly in May / June, earlier in the year. These stocks have been absolutely crushed, and weed stocks seem to go in God-mode rallies every number of years (i.e. 2018, end of 2020, beg of 2021), where the underlying stocks can sometimes 5-10X (perhaps life changing money), and I had a feeling that Trump would eventually reschedule. Also, the latest hemp ban is good for the industry, because companies have been selling hemp with tons of THC for years, so that was taking away business from regular cannabis co's. We still have banking reform that can happen (i.e. being able to use CC to buy weed, and allowing these companies to be able to do business / get loans from major banks), and then the really big one, uplisting onto NYSE / Nasdaq. A lot of people like to buy TLRY, but they don't even benefit from US federal reform. The beneficiaries are the US companies which can only be found on OTC (i.e. GTBIF, TCNNF, VRNO, CURLF, etc.). All in all, I'm roughly around 2-3X on my buys, and am holding longer for more.

heliumbox

This post made me do a deep dive into how sketchy TCNNF is playing these 280e taxes. Kim better remember the golden bong tomorrow.

heliumbox

https://www.reddit.com/r/weedstocks/comments/1potoc2/daily_discussion_thread_december_17_2025/nuiksxe/ Not that surprising when Dan spends 3x as much on CURLF and more than double on TCNNF than GTBIF.

heliumbox

Held up much better yes. but has lagged every single move. TCNNF is nearly the same MC and CURLF is 50% higher. There is no reason GTBIF shouldn't have a value premium SIGNIFICANTLY higher than CURLF and definitely much higher than TCNNF when their financials are in a complete league of their own. There is nothing fairly valued about a company trading at a 50% discount to a less than 10%? revenue deficit while having 40% less debt to assets.

srhogan1984

You need to invest in American Cannabis. GTIBF, CURLF, TCNNF, VRNO, CRBLF or the ETF MSOS

TroubledAcorn

This always happens with GTBIF, we are trailing TCNNF, should be telling. The price correction will happen but not until we get reform and real money entering the sector. Be patient we know the truth

Outside_Mix_1131

I purchased Canopy (CGC) a few days ago based on the news regarding possible reclassification. Check out CURLF as well. The others I can think of (TCNNF, ACB) are not penny stocks but I'm sure there are more that are.

Temporary-Equal-774

If you are looking for weed play, consider GTBIF or TCNNF, or just MSOS. Don't fall for trash like TLRY. Monday could be sell the news tho, unless something unexpected in the EO

dave64112

Add Trulieve, $TCNNF to the upside. I don’t think Monday will be red, as too much pent up buying demand.

JATLLC

TCNNF is the real beast. Up 66% on 2m shares. Once they uplist this will be loco.

RogueJello

All joking aside then, who else do you think is making a profit AND doesn't have a ton in back taxes? I used to think TCNNF and VRNO were in this club, but I don't think it's the case any longer.

Meh-itwillbeok

Damn, TCNNF, trulieve up 65%, gotta love a good reclassification of Mary Jane...

heliumbox

GTBIF and TCNNF trading in lockstep share price is just so odd. Seen it to many times that they're kept to the penny of each other.

King_Chron

**📊 280E Tax Relief – Cannabis MSO Estimates (Rescheduling → Schedule III)** Rescheduling could remove 280E, letting companies deduct normal expenses. Analyst research (Zuanic, Water Tower, Whitney) shows potential annual savings: |Company|2025 Revenue|Est. 280E Savings| |:-|:-|:-| |Curaleaf (CURLF)|$1.3–1.5B|$150–200M| |Trulieve (TCNNF)|$1.1–1.3B|$120–180M| |Green Thumb (GTBIF)|$1.0–1.2B|$100–150M| |Verano (VRNOF)|$900–1,000M|$80–120M| |Cresco (CRLBF)|$800–900M|$70–100M| |Jushi (JUSHF)|$250–500M|Up to \~$514M| |Cannabist / Columbia Care|$300–360M|$35–50M| |Planet 13 (PLNHF)|$95–110M|$9–15M| |MariMed (MRMD)|$150–180M|$15–25M| **Takeaways:** * Total U.S. MSO tax savings could reach **$2–3B+ annually**. * Largest absolute beneficiaries: Curaleaf, Trulieve, Green Thumb. * High % upside: Jushi, Planet 13, MariMed. * Retroactive refunds are speculative; cash depends on DEA/HHS action & IRS guidance.

C_B_Doyle

Lawmakers could force the DEA to remove cannabis from the Schedule-1 list, with a 90-day time limit, to allow the FDA to study it for medical value so insurance companies can help patients obtain it at hospitals and pharmacies such as Walgreens, Costco, or CVS provided by existing multi-state operators such as MRMD (Marimed Inc.), CURLF (Curaleaf), TCNNF (Trulieve) and many other multi-state operators.

C_B_Doyle

Lawmakers could force the DEA to remove cannabis from the Schedule-1 list, with a 90-day time limit, to allow the FDA to study it for medical value so insurance companies can help patients obtain it at hospitals and pharmacies such as Walgreens, Costco, or CVS provided by existing multi-state operators such as MRMD (Marimed Inc.), CURLF (Curaleaf), TCNNF (Trulieve) and many other multi-state operators.

C_B_Doyle

Congress can pass a simple statutory directive ordering the DEA to remove cannabis from Schedule I within a fixed window, and because scheduling authority ultimately comes from the Controlled Substances Act, lawmakers can override the agency with a single amendment that bypasses the slow administrative process. Once removed from Schedule I, the FDA immediately gains freedom to run full clinical evaluations, allowing cannabis to enter the same medical review pipeline used for any other therapeutic, which reshapes how investors view long-term regulatory clarity. A congressional mandate would also trigger automatic coordination between the DEA, FDA, and HHS, because descheduling forces these agencies into a compliance posture rather than a discretionary one, eliminating the political bottleneck that normally stalls progress. That fast alignment is exactly what markets tend to reward, since it takes the uncertainty premium off U.S. cannabis operators and opens the door for mainstream institutions that have been waiting for a clear federal rule. Once the FDA enters the picture with formal pathways, insurers can legally reimburse cannabis-based treatments through standard medical benefit structures, and hospitals or major retail pharmacies can dispense products sourced from established operators. That shift converts cannabis from a fragmented state-only model into a federal healthcare product, positioning companies like MRMD, CURLF, and TCNNF to plug directly into the national distribution chains they’ve been structurally built for. Congress can also attach descheduling to a broader health or appropriations bill, a tactic used constantly to move policy changes without relying on standalone votes. That approach makes passage much easier, because it folds cannabis into routine legislative cycles, sidestepping headline political fights and letting the reform ride through on a must-pass vehicle—something markets interpret as near-guaranteed execution once language is included. All of this creates a straightforward pathway: congressional directive → DEA compliance → FDA evaluation → insurance coverage → mainstream pharmacy distribution → national scale for operators. For lawmakers, it’s one of the cleanest federal reforms available; for the sector, it’s a regulatory unlock that allows U.S. cannabis stocks to function like normal consumer-health companies instead of siloed state-restricted plays.

C_B_Doyle

Lawmakers could force the DEA to remove cannabis from the Schedule-1 list, with a 90-day time limit, to allow the FDA to study it for medical value so insurance companies can help patients obtain it at hospitals and pharmacies such as Walgreens, Costco, or CVS provided by existing multi-state operators such as MRMD (Marimed Inc.), CURLF (Curaleaf), TCNNF (Trulieve) and many other multi-state operators.

C_B_Doyle

Congress could require the DEA to move cannabis out of Schedule I within 90 days, instantly opening the door for a full scientific review. Once it’s descheduled, the FDA would run a complete evaluation—clinical data, therapeutic applications, dosing ranges, safety profiles, manufacturing standards, purity requirements, and how cannabis fits into existing classes of regulated medicines. HHS would take those findings and issue a formal medical determination, creating a nationally recognized foundation for regulated therapeutic use. That shift unlocks insurance coverage because FDA and HHS recognition allows CMS and private insurers to treat cannabis like any other approved treatment. Hospitals, integrated health networks, and major pharmacy chains could then stock and dispense standardized, FDA-compliant formulations. Operators like MRMD, CURLF, and TCNNF—already functioning in tightly regulated state systems—could transition into federally compliant production, scaling supply across state lines and eventually into international medical markets under unified standards. The sequence becomes: Congress directs DEA → DEA deschedules → FDA defines medical standards → HHS certifies medical use → insurers reimburse → pharmacies and hospitals dispense → regulated producers supply a national and global market.

Tiaan

It's largely due to MSOS bias. The ETF has way too much power over how flows into the sector are divvied up. To give you an idea, YTD through Sept 30th, MSOS bought the following ($ cost is rough estimate based on avg price, but share count is real): 27,763,839 shares of $CURLF: ~$58,000,000 USD 6,664,172 shares of $TCNNF: ~$36,000,000 USD 20,667,716 shares of $TSNDF: ~$16,000,000 USD 2,308,623 shares of $GLASF: ~$14,000,000 USD 15,286,863 shares of $CRLBF: ~$15,000,000 USD 13,150,626 shares of $VRNOF: ~$13,000,000 USD And finally, 1,160,328 shares of $GTBIF: ~$5,800,000 USD Dan, $MSOS ETF manager, despises Ben Kovler and GTI, and prefers to buy just about any other weed stock other than GTI for that reason. Fundamentals be damned

C_B_Doyle

Lawmakers could order the DEA to take cannabis off Schedule I within 90 days, clearing the way for FDA review and opening the door for insurance-covered access through hospitals and major pharmacies like Walgreens, Costco, and CVS, supplied by existing MSOs such as MRMD, CURLF, TCNNF, and others.

heliumbox

huge debt, very unlikely to see 280e reform this year, TCNNF taking it in the butt too.

C_B_Doyle

MRMD could push higher with volume and news about Medical Cannabis. Lawmakers could force the DEA to remove cannabis from the Schedule-1 list, with a 90-day time limit, to allow the FDA to study it for medical value so insurance companies can help patients obtain it at hospitals and pharmacies such as Walgreens, Costco, or CVS provided by existing multi-state operators such as MRMD (Marimed Inc.), CURLF (Curaleaf), TCNNF (Trulieve) and many other multi-state operators.

C_B_Doyle

Lawmakers could force the DEA to remove cannabis from the Schedule-1 list, with a 90-day time limit, to allow the FDA to study it for medical value so insurance companies can help patients obtain it at hospitals and pharmacies such as Walgreens, Costco, or CVS provided by existing multi-state operators such as MRMD (Marimed Inc.), CURLF (Curaleaf), TCNNF (Trulieve) and many other multi-state operators.

C_B_Doyle

I bought 50,000 of MRMD bc lawmakers could force the DEA to remove cannabis from the Schedule-1 list, with a 90-day time limit, to allow the FDA to study it for medical value so insurance companies can help patients obtain it at hospitals and pharmacies such as Walgreens, Costco, or CVS provided by existing multi-state operators such as MRMD (Marimed Inc.), CURLF (Curaleaf), TCNNF (Trulieve) and many other multi-state operators.

C_B_Doyle

Lawmakers could force the DEA to remove cannabis from the Schedule-1 list, with a 90-day time limit, to allow the FDA to study it for medical value so insurance companies can help patients obtain it at hospitals and pharmacies such as Walgreens, Costco, or CVS provided by existing multi-state operators such as MRMD (Marimed Inc.), CURLF (Curaleaf), TCNNF (Trulieve) and many other multi-state operators.

JATLLC

Nah man GTBIF is probably the most solid of the bunch. Im in on TCNNF only because they are massive. Kim Rivers kissed the ring its gunna happen. Good luck!

heliumbox

The TCNNF and GTBIF charts are basically identical, share price and movements for the last 3 months. It means nothing, but its just really strange to see.

Draphippo

1. What Schedule III Reclassification Actually Does If cannabis moves from Schedule I → Schedule III, it means: • The U.S. government formally recognizes medical use. • Cannabis is no longer in the same class as heroin or LSD, but with drugs like Tylenol with codeine, testosterone, and ketamine. • The DEA and FDA can regulate it as a controlled, but prescribable substance. That change has massive secondary effects on financial and regulatory systems — especially custody and uplisting. ⸻ 💰 2. Why Cannabis Stocks Are Currently Locked Out of Major Exchanges Right now, U.S. cannabis companies like Trulieve (TCNNF) and Green Thumb (GTBIF) can’t list on the NYSE or NASDAQ because: • Those exchanges are regulated by the SEC and must comply with federal law. • Since cannabis is federally illegal (Schedule I), listing them would mean a federal crime is being facilitated (distribution of a controlled substance). • Similarly, U.S. banks and custodians (like JPMorgan or Goldman) can’t hold or clear trades in cannabis-touching companies, since that’s aiding an illegal enterprise under federal law. That’s why U.S. multi-state operators (MSOs) trade only on Canadian exchanges (CSE) or OTC markets under “F” tickers — and that’s why liquidity is so poor. ⸻ 🏛️ 3. How Schedule III Fixes That Problem If cannabis becomes Schedule III, then: • It is no longer federally illegal for companies to manufacture, distribute, or sell it under DEA/FDA oversight. • The Controlled Substances Act (CSA) would no longer prohibit these companies’ core business. • Therefore, U.S. cannabis companies would no longer be “trafficking in a Schedule I substance.” That legal distinction allows: • NYSE and NASDAQ to legally uplist U.S. cannabis stocks (since their business is no longer federally illegal). • Prime brokers, custodians, and clearing firms (like Pershing, Fidelity, JPMorgan) to hold, clear, and custody cannabis securities safely. • Institutional investors (mutual funds, ETFs, pensions) to finally participate. Essentially, the federal legal barrier disappears. ⸻ 📈 4. Key Consequences Once That Happens If Schedule III becomes official: 1. MSOs can uplist — TCNNF → TLVF (or similar) on NASDAQ. 2. Custody opens up — brokers like Fidelity or TD can hold shares directly rather than via foreign intermediaries. 3. Liquidity soars — volume increases, bid/ask spreads tighten. 4. Institutional money enters — funds and ETFs that currently can’t touch these names flood in. 5. Valuations normalize — MSOs rerate closer to mainstream consumer/healthcare stocks (think 5–10× EBITDA instead of 3×). ⸻ ⚠️ 5. Important Caveats • Schedule III doesn’t automatically mean dispensaries can sell Schedule III products overnight — DEA and FDA will set frameworks. • Adult-use (recreational) cannabis may still operate in a gray zone until Congress or DOJ guidance clarifies it. • Uplisting won’t happen immediately — exchanges will likely wait for formal DEA final rule + DOJ guidance confirming that cannabis businesses are federally compliant. • The SAFE Banking Act could still accelerate financial normalization in the meantime.

Draphippo

Happy I stuck to my guns, sold profit last week predicating price suppression for massive OPEX today. Added 5 min before the close to [$GTBIF](https://x.com/search?q=%24GTBIF&src=cashtag_click) [$TCNNF](https://x.com/search?q=%24TCNNF&src=cashtag_click). New position in [$CURLF](https://x.com/search?q=%24CURLF&src=cashtag_click). [$MSOS](https://x.com/search?q=%24MSOS&src=cashtag_click) and the underlying continue to be predictable. Hoping for news soon, low options volume moving into Nov. I think there's room to run. Happy Friday.

MontyNinjaPython

Ok. Listen, posting about MSOS OPEX and TCNNF after Friday’s close doesn’t help anyone trade—it’s just hindsight. No entry price or why you sold makes it feel like a brag, not advice. Newbies like me can’t learn without those details and pros don't even read this forum . Maybe to check for hype once in a while. Forums work when you share real trade setups before they happen, like: what signals to watch. Drop that next time so we can actually use it. 

Draphippo

Oct 17th massive opex open interest on MSOS. Overall market pullback, expecting more blood this coming week with Trump tariff threats against China. With no news, expect MSOS and the basket to bleed further with the overall market or trade sideways into Friday close so MM’s can expire those calls worthless. Sold a good chunk of TCNNF this week, luckily. Sitting on cash and will be looking to deploy aggressively next week if opportunity presents. More so aiming for EOD Friday. Hopefully we get news soon! 🍀

Inca-Vacation

Trimmed some gold and silver and UNH early and took advantage of the sales late today -- CNC PLTR MOS TCNNF.

Tiaan

I bought 2k more shares of Trulieve at $7.85 USD. I now own 12k shares at an average of $5.10 USD, so averaging up basically. I only own GTBIF and TCNNF for weed stocks at the moment. The rest of my portfolio is index funds.

greenbelieve

They always are. Buy American weed companies $TCNNF

Bansionboy

eh TCNNF or nothing

Flipside68

Any ideas why TCNNF is still up 16%?

Tiaan

We're already past 5 million in $ volume traded today on both GTBIF and TCNNF

Tiaan

I'm seeing GTBIF and TCNNF already having traded more than their 90 avg volume in the first hour of trading. Looks decent to me

Complete-Ad3742

How can one side of their mouth sore Schedule 1 while the other is signaling Schedule 3? I have a whale sized position in TCNNF and have no concerns. If Trump fumbles the issue, eventually the house of redder madness will crumble. Our day is coming! The question is whether it will be a few weeks, midterms or years ahead.

HugeDramatic

Incase anyone is curious I asked Grok 4 Expert why the next two largest MSOs haven’t uplisted from the CSE to the TSX: Trulieve Cannabis (CSE: TRUL; OTC: TCNNF) and Green Thumb Industries (CSE: GTII; OTC: GTBIF) have not uplisted to the Toronto Stock Exchange (TSX) primarily due to strategic priorities, regulatory complexities, and perceived limited benefits compared to potential future U.S. exchange listings. 97 107 108 Both companies, as U.S.-based multistate operators (MSOs) in the cannabis sector, face unique challenges stemming from federal illegality in the U.S., which complicates listings on major exchanges. Key Reasons: • Focus on Potential U.S. Exchange Uplisting: Many MSOs, including Trulieve and Green Thumb, are prioritizing federal cannabis rescheduling (e.g., moving to Schedule III), which could eliminate punitive 280E taxes and enable direct listings on U.S. exchanges like NASDAQ or NYSE. 7 30 76 62 This would offer greater liquidity, higher valuations, and broader institutional access than the TSX. Rescheduling progress (e.g., HHS recommendations and ongoing DEA reviews) has fueled optimism, making a TSX move seem like an unnecessary interim step. 96 94 For instance, Trulieve filed a shelf registration in June 2025 with no immediate plans for offerings, signaling preparation for U.S. opportunities rather than TSX. 83 • Higher Costs and Complexity of TSX Uplisting: Listing on the TSX is more expensive and rigorous than remaining on the Canadian Securities Exchange (CSE), where both companies currently trade. 107 It often requires raising capital (e.g., Curaleaf raised CA$16 million in 2023 to meet TSX float requirements) and complex restructuring, such as ring-fencing U.S. plant-touching assets to comply with legal concerns. 79 81 107 This could involve dilution, which both companies may want to avoid—Green Thumb announced a $50 million share repurchase program in 2024, focusing on returning value to shareholders instead. 73 Auditor sign-off on consolidated financials including U.S. operations remains uncertain due to federal risks. 107 • Limited Perceived Benefits: While the TSX offers better visibility and potential index inclusion (e.g., S&P/TSX Composite), experiences like Curaleaf’s suggest it may not significantly boost institutional investment or valuations due to share structures and ongoing U.S. federal stigma. 2 105 108 98 Trulieve and Green Thumb, with strong operational focus (e.g., expansions in Florida and Ohio), may see staying on CSE/OTC as sufficient for now, especially with comparable market caps to Curaleaf (~C$2 billion each). 12 6 • Market and Regulatory Caution: The TSX has been receptive to cannabis firms, but U.S. MSOs must navigate TMX Group policies on U.S. operations. 80 1 61 With events like Florida’s failed adult-use legalization in 2024 impacting sector sentiment, companies like Trulieve (heavily Florida-exposed) are prioritizing cash flow and operations over exchange upgrades. 4 95 Overall, while not explicitly stated by the companies, analyst commentary and industry trends indicate these MSOs view TSX uplisting as a lower-priority move amid hopes for U.S. reforms. 97 102 If rescheduling stalls, they could reconsider, as seen with Curaleaf in 2023. 86

MontyNinjaPython

"For TCNNF, paying 280E-related tax liabilities for prior periods would likely not be highly damaging due to its financial scale, ability to defer payments through legal procedures (e.g., refund claims, audits, or litigation), and strong market position. A liability in the tens of millions would be manageable within its $1.13 billion revenue and $273 million EBITDA, and legal deferrals could mitigate cash flow impacts. Rescheduling to Schedule III in 2025 would eliminate future 280E burdens, further supporting TCNNF’s growth. While Trump could push for retroactive relief to erase past liabilities, benefiting TCNNF significantly, the company’s progress is unlikely to be derailed even without such relief. TCNNF should continue leveraging tax advisors to maximize deferrals and monitor legislative developments for potential refund opportunities."

MontyNinjaPython

Trump’s pro-rescheduling stance and pro-business rhetoric suggest he could support legislation providing retroactive relief from 280E taxes, recognizing the damage it has caused to companies like TCNNF. His influence could sway Republican lawmakers to back bills like the Small Business Tax Equity Act or the STATES Act, amended to include refund provisions.

Draphippo

Tilray is a money dilution machine, good short term play. Invest in real companies like $GTBIF $TCNNF

Draphippo

Rather buy solid companies like $GTBIF $TCNNF

Draphippo

Open the markets!! $MSOS $TCNNF $GTBIF