Tom Adams

#Cannabis #data #market insights #industry intelligence @AdamsResearch.net

[Tom Adams @TomAdamsRsch]

Investors have stranded public cannabis stocks at a fraction of 2021 peaks, fixated on the meager single-digit growth licensed cannabis posted in 2024 and 2025.

They've missed a $57B "total cannabinoid market" growing 2x faster — and DC is steering more of it into licensed cannabis.

https://t.co/zxmTgoAUUI

[Tom Adams @TomAdamsRsch]

Two reads and the data behind them: the ranked 2026 Global Cannabis 50, and the BDSA forecast update behind that 82%. Subscribe for what's next: which companies are ready for international travel. 👇
https://t.co/kNqyiGdXFw
https://t.co/nayEl1X6EX

[Tom Adams @TomAdamsRsch]

The Schedule III hearings have everyone watching for the tax relief that adding adult-use would bring. But the bigger prize is already here: SIII for medical opened the world to American cannabis exports. 🧵
https://t.co/JHVUHNYnFd

[Tom Adams @TomAdamsRsch]

No U.S. operator is more ready-to-roll than Curaleaf — EU-GMP cultivation in Portugal, distribution across Europe and Australasia. Not alone: Aurora, Organigram, Cantourage, InterCure chase the same markets. For others, the catch: a permit must clear EU-GMP and country rules.

[Tom Adams @TomAdamsRsch]

The choice this list now frames for the old guard: chase the last licenses at home, or build where the growth is just starting — Berlin, Bogotá, Bangkok, not just Austin. The full 2026 Global Cannabis 50, with the ranked table:
https://t.co/UHrLueJLYF

[Tom Adams @TomAdamsRsch]

The 5 biggest cannabis companies in the world are smaller than they were in 2023. The growth didn't vanish — it just left the country. My 2026 Global Cannabis 50 is out 🧵
https://t.co/BKt07Fp3KI

[Tom Adams @TomAdamsRsch]

Curaleaf is still #1 — but flat, and shut out of Texas, the one US state still issuing licenses. Four of the other top five won Lone Star licenses. Curaleaf's growth plan isn't Texas; it's Europe, where its international arm booked $172.5 million, up 183% from 2023.

[Tom Adams @TomAdamsRsch]

The case for licensed cannabis companies rests on three facts: a market twice the dispensary line growing 2x faster, federal action delivering more of it, and a fragmented field that leaves room for consolidators — public, private, or new entrant.

Full analysis: https://t.co/S82ZNLX89Q

[Tom Adams @TomAdamsRsch]

Investors have stranded public cannabis stocks at a fraction of 2021 peaks, fixated on the meager single-digit growth licensed cannabis posted in 2024 and 2025.

They've missed a $57B "total cannabinoid market" growing 2x faster — and DC is steering more of it into licensed cannabis.

https://t.co/zxmTgoAUUI

[Tom Adams @TomAdamsRsch]

Most public MSOs are positioned defensively. Curaleaf wound hemp down Q1. Cresco, Verano, Trulieve never entered.

Green Thumb is the structural outlier — via the RYTHM (Nasdaq: RYM) deal, pushing those brands into hemp-THC beverages at Chicago's United Center and Navy Pier.

[Tom Adams @TomAdamsRsch]

The international playbook works. U.S. operators who copy it first will own the next decade.
Full analysis:
https://t.co/6IBI42kQGJ

[Tom Adams @TomAdamsRsch]

From Texas to Thailand, governments are treating cannabis as legitimate medicine, not a dangerous narcotic. The past two years saw the biggest patient expansion in industry history — a quarter-billion people. The DOJ joined last week. BDSA forecast 🧵
https://t.co/wGNlNZP1Fb

[Tom Adams @TomAdamsRsch]

Beyond Texas, U.S. growth comes from Minnesota (+$1B by 2030, insulated by prohibition states around it), Pennsylvania, Ohio, and New York. The "but": ten mature states from Colorado to Massachusetts shed $781M combined as price compression bites.