Disappointing Cannabis MSO Q1 Results Crush Category: Erase Major Gains In April

Four major multi-state operators – Green Thumb Industries, Trulieve, Curaleaf, and TerrAscend – reported Q1 earnings w/e May 9th and they were so disappointing their stock prices erased the substantial gains they had garnered in April.

The American Cannabis MSOs Portfolio

Below are the performances of all 6 constituents in the American Cannabis MSOs Portfolio w/e May 9th, in descending order, and in April:

1. TerrAscend Corporation (TSNDF): DOWN 5.0% w/e May 9th; DOWN 10.2% in April;
   • TerrAscend Reports First Quarter 2025 Financial Results
2. Trulieve Cannabis (TCNNF): DOWN 7.8% w/e May 9th; UP 27.6% in April;
   • Trulieve Reports First Quarter 2025 Results Demonstrating Core Business Strength
3. Curaleaf Holdings (CURLF): DOWN 12.5% w/e May 9th; UP 8.0% in April;
   • Curaleaf Reports First Quarter 2025 Results
4. Green Thumb Industries (GTBIF): DOWN 14.6% w/e May 9th; UP 16.8% in April;
   • Green Thumb Industries Reports First Quarter 2025 Results
5. Verano Holdings (VRNOF): DOWN 15.9% w/e May 9th; UP 38.5% in April;
   • Verano Announces First Quarter 2025 Financial Results
6. Cresco Labs (CRLBF): DOWN 18.9% w/e May 9th; UP 25.6% in April
   • Cresco Labs Announces Rescheduling of First Quarter 2025 Earnings Release and Conference Call

In Summary:

As mentioned in the introduction, the Portfolio went DOWN 12.3% w/e May 9th; and is now UP just 0.1% from the end of March.

Please note: For

• a chart of the portfolio’s performance at any time during the Day go HERE (see “Today’s Gain” in top left-hand corner) for the Canadian LP Cannabis Stocks Portfolio pricing and, go HERE for the American Cannabis MSO Stocks Portfolio pricing.
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• the reasons behind the price change in a specific stock go HERE and ask “Why did x stock change price so much this week?”
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