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Regulatory

LFLY

Leafly Holdings, Inc. (NASDAQ: LFLY) has released its annual Cannabis Harvest Report, revealing that cannabis is one of the highest-value crops in some states. The report synthesizes licensing reports, crop production totals, and sales and tax figures from 15 states with operating cannabis markets. It also highlights the challenges faced by cannabis farmers due to federal prohibition. However, this could change as the Department of Health and Human Services recommends reclassifying marijuana as a Schedule III drug. The report also reveals that in 2022, U.S. cannabis farmers have legally grown approximately 2,834 metric tons of cannabis, supporting more than 13,297 American farms in 15 legal states.

Portfolio Pulse from Maureen Meehan

September 05, 2023 | 5:27 pm

AVCO

Avalon GloboCare's shares are trading higher following the announcement that the USPTO has issued a notice of publication for a US patent titled 'QTY Fc Fusion Water Soluble Receptor Proteins'.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2023 | 5:23 pm

HSDT

Helius Medical Technologies has regained compliance with all applicable NASDAQ listing criteria, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2023 | 5:16 pm

BWA

The U.S. agency has made an initial decision that 52 million air bag inflators produced by Arc Automotive and Delphi are unsafe and need to be recalled, according to Reuters. BorgWarner (BWA) may be indirectly involved as it acquired Delphi in 2020.

Portfolio Pulse from Happy Mohamed

September 05, 2023 | 5:11 pm

TSLA

Tesla Inc's shares are trading higher after the company reported a 9.4% year-over-year increase in China sales in August, with a month-over-month rise of 30.92%. China's large automobile market and supportive regulatory environment for electric vehicles have benefited Tesla's sales and manufacturing operations.

Portfolio Pulse from Henry Khederian

September 05, 2023 | 4:57 pm

INSM

Insmed Incorporated's shares are trading higher after the company released positive topline results from its Phase 3 ARISE study of ARIKAYCE in patients with newly diagnosed or recurrent nontuberculous mycobacterial (NTM) lung infection. The study met its primary objective, demonstrating the effectiveness of the Quality of Life – Bronchiectasis (QOL-B) respiratory domain as a patient-reported outcome (PRO) instrument. Insmed plans to propose to the FDA that the QOL-B respiratory domain PRO be the primary endpoint for the ENCORE study. The company continues to enroll patients in ENCORE, with 250 patients expected to be enrolled by the end of 2023.

Portfolio Pulse from Vandana Singh

September 05, 2023 | 4:34 pm

BRC

Brady Corp has filed for a mixed shelf offering, according to a SEC filing. The size of the offering has not been disclosed.

Portfolio Pulse from Happy Mohamed

September 05, 2023 | 4:31 pm

ZLAB

Zai Lab's shares are trading higher following the company's receipt of Breakthrough Therapy Designation for investigational repotrectinib in China last week.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2023 | 4:30 pm

AYRWF

CRLBF

CURLF

FFNTF

GLASF

GTBIF

MSOS

MSOX

TCNNF

TSNDF

VRNOF

The HHS has recommended rescheduling cannabis, which could lead to a 2-3X turn for U.S cannabis plant-touching securities. This news has already led to a 33.18% increase in AUM for the U.S cannabis ETF MSOS (NYSE:MSOS) and a 132.88% increase for MSOX (NYSE:MSOX). Other potential catalysts include SAFE Banking moving through the Senate and House of Representatives, uplisting to NYSE/NASDAQ, and CPG M&A. Companies like AYR Wellness (AYRWF) and 4Front Ventures (FFNTF) could benefit, as well as Tier1 companies like Verano (OTC: VRNOF), Green Thumb (OTC:GTBIF), Cresco (OTC:CRLBF), Curaleaf (OTC:CURLF) and Trulieve (OTC:TCNNF).

Portfolio Pulse from Todd Harrison

September 05, 2023 | 4:30 pm

TLRY

Tilray Brands Inc's stock has increased by 41% over the past week, driven by the strong performance of the cannabis sector. This surge is attributed to the news that the Department of Health and Human Services (HHS) proposed reclassifying marijuana to a lower-risk drug category. The reclassification from Schedule I to Schedule III under the Controlled Substances Act could significantly impact the cannabis industry.

Portfolio Pulse from Henry Khederian

September 05, 2023 | 4:16 pm