Cannabis Stocks Surge on Trump Video
Global cannabis stocks have enjoyed a considerable, but likely temporary, run this week, after US President Donald Trump shared a video apparently endorsing the use of CBD for senior healthcare.
While many have seen this as an endorsement of the cannabis industry at large, which is still awaiting movement from the government on rescheduling, more level heads have questioned the timing, source and Trump’s other posts on Truth Social.
Regardless of the motivations behind the post, the resulting impact on cannabis stocks has been very real. Tilray Brands led the rally, soaring more than 40% on Monday, while Canopy Growth and Aurora Cannabis rose by around 18–20% and 25% respectively. Cronos Group also added between 12% and 15%, depending on the market.
US multi-state operators like Curaleaf (+22%) saw similar advances, while cannabis ETFs were also caught up in the stock rally.
The AdvisorShares Pure US Cannabis ETF (MSOS) jumped 21.8% and the Roundhill Cannabis ETF gained 21.6%, both on track for record quarterly gains of more than 70%. The Amplify Alternative Harvest ETF (MJ), which tracks Canadian cannabis companies, climbed 16.5%.
Our 10-day stock sparklines also bear this trend out, with the vast majority of MSOs, LPs and ETFs seeing either high single-digit or double-digit growth.
As we’ve stated previously, speculation that the Trump administration, or the President himself, has a particularly favourable view of cannabis reform is often exaggerated and has an outsized impact on stock prices across the globe.
With this in mind, speculation over the influence of Howard Kessler, long time friend of the Trump family, who made his fortune by pioneering the affinity credit card and is now thought to be worth $300m, has been circling.
Kessler has been a long-time cannabis advocate and lobbyist, particularly in senior healthcare, and is the founder of The Commonwealth Project, a pro-cannabis organisation that produced the CBD video Trump shared.
His connections to the Trump family go back at least 20 years, when he attended Donald and Melania Trump’s wedding in 2005. He entered the cannabis industry in 2014, securing one of Massachusetts’ first medical marijuana licences in 2014, and now owns a significant stake in NETA (New England Treatment Access).
While the stock run has been driven by optimism that this points to a more favourable view on cannabis rescheduling from the White House, those hopes are already being scuppered by wider events .
The government shutdown that began on 1 October makes movement even less likely in the near term. With federal agencies shuttered and lawmakers consumed by partisan gridlock, cannabis reform has again slipped down the list of Washington’s priorities.
Cantourage
European medical cannabis operator Cantourage Group has announced the appointment of Manuel Taverne as Head of Investor Relations in a move designed to sharpen its capital markets strategy and strengthen engagement with European investors.
Despite reporting its strongest quarter to date in July, generating €27.9 million in revenue in Q2 and seeing its 2025 HY revenue already surpass FY 2024, the company’s stock price, like many of its peers, has dropped by nearly 50% since June this year.
Taverne’s appointment marks an effort to rectify what CEO Philip Schetter says is a discrepancy between performance and stock value.
“By bringing Manuel Taverne on board, we gain an accomplished capital markets expert with outstanding knowledge and extensive experience,” said Schetter.
“Our innovative business model and platform strategy set us apart – yet the uniqueness of our approach has not been fully recognised by the market to date.”
A veteran of more than two decades in capital markets and financial communications, Taverne will oversee the company’s investor outreach and help communicate what management describes as a still under-recognised equity story.
Its stock performance, analysts suggest, is a reflection of wider market concerns. According to a recent research note by NuWays AG, the company faces intensifying pricing pressure in the low and mid-priced flower segments due to oversupply, while regulatory proposals from the Federal Ministry of Health, including possible restrictions on telemedicine prescribing and mail-order distribution, are weighing on sector sentiment.
Although the direct revenue impact of these measures would be limited, analysts caution that patient access could be constrained, prompting some pharmacies to adopt more cautious order behaviour. In response, Cantourage is pivoting its domestic strategy toward premium product offerings.
Further research from Montega AG mirrors this, highlighting that while draft legislation could tighten rules around telemedicine, mail-order sales, and documentation requirements, demand for medical cannabis in Germany remains structurally strong.
The company has reiterated its “Buy” rating on Cantourage, setting a slightly reduced 12-month price target of €10.00 (down from €13.00) following new regulatory developments in Germany.
Outside of Germany, Cantourage’s UK and Polish operations continue strong and consistent growth. The UK continues to post triple-digit growth rates under clear regulatory frameworks, while Poland is showing signs of recovery and is expected to make meaningful contributions to revenues from 2026 onwards.
Montega projects robust revenue growth of 66% in 2025, albeit with some near-term margin pressure, and sees Cantourage well positioned to benefit from the long-term growth of Europe’s medical cannabis sector.
Mamedica
UK medical cannabis clinic Mamedica last month closed a £4.5 million funding round led by Casa Verde Capital, the cannabis-focused venture capital firm backed by Snoop Dogg.
Casa Verde, which has previously backed US companies including Dutchie, Metrc and Leaflink, and holds European stakes in Cansativa and Sanity Group, said the deal positions Mamedica to scale as patient demand accelerates.
The funding will be used to optimise Mamedica’s in-house supply chain, expand its clinical network, advance its proprietary digital healthcare platform, and support education on integrating cannabis into mainstream care.
Alongside the funding, Mamedica has unveiled ‘Flex’, a new pricing structure aimed at reducing the cost burden for patients. Under the plan, initial consultations start from £49 (down from £150), with all clinic fees scrapped after nine months of treatment.
