Cannabis stocks ripped higher on Wednesday as the BoC Cannabis Index jumped +1.26%, powered by an outsized +14.03% surge in Innovative Industrial Properties and broad strength across US multi-state operators. The cannabis REIT’s breakaway move — its biggest single-day gain in months — reset risk appetite across the cohort and lifted every major US plant-touching name into positive territory.
Breadth was decisively bullish, with 24 of 38 tracked names advancing against 13 decliners and 1 unchanged. The US MSO basket averaged a +3.32% session, leaving Canadian LPs (-1.04%) and the cannabis ETF complex (+3.33%) trailing but still firm. AdvisorShares Pure US Cannabis ETF (MSOS) added +4.13%, confirming institutional follow-through behind the move in plant-touching names.
| Ticker | Price | Change ($) | Change (%) |
|---|---|---|---|
| IIPR | $60.3200 | +7.4200 | +14.03% |
| CRLBF | $1.0941 | +0.0741 | +7.26% |
| CURLF | $3.4800 | +0.2200 | +6.75% |
| TCNNF | $9.6900 | +0.5200 | +5.67% |
| AAWH | $0.5598 | +0.0296 | +5.58% |
| MSOS | $5.0400 | +0.2000 | +4.13% |
| YOLO | $3.1800 | +0.1184 | +3.87% |
| CNBS | $29.4768 | +1.0868 | +3.83% |
| GTBIF | $8.1000 | +0.2900 | +3.71% |
| GRWG | $1.3100 | +0.0400 | +3.15% |
| IXHL | $4.7500 | +0.1300 | +2.81% |
| REFI | $12.2500 | +0.2900 | +2.42% |
| JUSHF | $0.5095 | +0.0110 | +2.21% |
| CBWTF | $0.1013 | +0.0021 | +2.12% |
| JAZZ | $212.2600 | +4.2000 | +2.02% |
| AYRWF | $0.0124 | +0.0002 | +1.64% |
| MJ | $27.3700 | +0.3979 | +1.48% |
| CRBP | $10.6700 | +0.1500 | +1.43% |
| VEXTF | $0.2400 | +0.0030 | +1.27% |
| GLASF | $9.7200 | +0.1100 | +1.14% |
| SMG | $60.0600 | +0.6700 | +1.13% |
| STZ | $149.8000 | +1.6600 | +1.12% |
| SNDL | $1.4300 | +0.0100 | +0.70% |
| ACB | $3.4400 | +0.0200 | +0.58% |
| OGI | $1.3900 | +0.0000 | +0.00% |
| MAPS | $0.3480 | -0.0003 | -0.09% |
| CRON | $2.6300 | -0.0200 | -0.75% |
| MO | $72.7900 | -0.6200 | -0.84% |
| TPB | $80.9500 | -0.7100 | -0.87% |
| ABBV | $206.1100 | -2.0500 | -0.98% |
| VFF | $2.7400 | -0.0400 | -1.44% |
| CGC | $1.0800 | -0.0200 | -1.82% |
| HITI | $2.3700 | -0.0500 | -2.07% |
| AFCG | $2.8500 | -0.0800 | -2.73% |
| EEX | $4.5000 | -0.1400 | -3.02% |
| TLRY | $5.6900 | -0.2100 | -3.56% |
| IMCC | $0.2663 | -0.0186 | -6.53% |
| IPW | $0.8400 | -0.0682 | -7.51% |
Innovative Industrial Properties (IIPR) topped the board at +14.03% to $60.32, a striking move for the sector’s flagship REIT and one likely tied to fresh tenant or balance-sheet commentary given the magnitude — without an immediate news catalyst confirmed, the size of the gain points to fundamental repositioning by long-only money. On the downside, iPower (IPW) slid -7.51% to $0.8400 on no immediate news catalyst, with IM Cannabis (IMCC) and Tilray Brands also pressured. Cresco Labs (+7.26%), Curaleaf Holdings (+6.75%) and Trulieve Cannabis (+5.67%) all printed multi-percent gains, evidence that the bid in MSOs was cohort-wide rather than name-specific.
With the REIT, MSO and ETF cohorts all advancing in tandem, today’s tape is the most synchronised cannabis up-day in weeks — investors will be watching whether the move carries into Thursday’s session. Track all cannabis stocks live on the Business of Cannabis Stocks Tracker.
Note: VRNOF, HMMJ.TO are part of the BoC Cannabis Stocks Index universe but were excluded from today’s calculation due to no available print or data-source restrictions.