02:39 PM EDT, 03/18/2024 (MT Newswires) -- With Q4 cannabis earnings wrapped up, Wedbush is "incrementally more positive" on the fundamental setup headed into 2024, as revenues, margins and cash flow metrics for the leading U.S. MSOs showed broad-based improvement and exceeded expectations exiting the year, which are expected to continue. "While this is encouraging, from an interest and sentiment perspective, the far more important potential catalysts on the docket are Florida adult use legalization and DEA rescheduling, both of which have a legitimate chance to pass in our view and both of which would obviously be transformative to the industry," analyst Gerald Pascarelli writes.

The most near-term is Florida, where an opinion on whether to include adult use cannabis on the 2024 ballot will need to be issued by the Supreme Court no later than April 1. DEA timing remains more of a wildcard.

On Friday, vice president Kamala Harris convened a roundtable discussion about marijuana reform at the White House.

Canopy Growth ( CGC ) is up 21%, Tilray (+12.5%) and Aurora Cannabis ( ACB ) (+16.4%).

Price: 5.10, Change: +0.76, Percent Change: +17.51