Weekly Cannabis Sector Review — Week of June 22, 2026

MSOS added about 1.01% during the review week and remains more than 62.01% above its three-month low. Participation remained mixed, with breadth and trading activity not yet confirming a broader advance. DEA scheduling developments continued to move forward, although market reaction remained limited. The key question for the week ahead is whether recent stabilization can broaden beyond the largest operators and begin to appear in stronger dollar volume. Liquidity was generally stable.

Over Jun 15, 2026 – Jun 21, 2026, MSOS moved +1.01% on observed daily closes.

The review window ran from an observed close near 4.94 to 4.99 through 2026-06-21.

Over the trailing month (21 sessions), MSOS returned +13.41%.

The three-month observed range spanned 3.08 to 5.97.

Since the three-month low near 3.08, MSOS has rebounded roughly 62.01%, though it remains below the three-month high near 5.97.

Price action reflects observed tape conditions for monitoring context only.

Participation was modestly positive, with advancers slightly outnumbering decliners. Breadth remained mixed, with fewer than half of tracked names above short- and intermediate-term trend measures. Liquidity was subdued, with average volume slightly lower, spreads relatively contained, and volatility moderate.

DEA activity dominated cannabis policy discussion last week, with the agency advancing participant selection for the Schedule III rescheduling process. The market relevance is procedural: investors are tracking whether the hearing process can produce a clearer final-rule timeline for major U.S. operators. The market response remained muted, suggesting investors are still discounting procedural DEA steps until a clearer final-rule timeline emerges. State-level developments in New York remained active, though most appear unlikely to materially change near-term earnings expectations for major U.S. operators.

Related:

• 8 Bipartisan US House Lawmakers Reintroduce SAFE Banking Act — Marijuana Moment
• DEA Judge Sets Testimony Schedule For Marijuana Rescheduling Hearing Starting Next Week — Marijuana Moment
• MariMed Submits DEA Registration Applications for State-Licensed Medicreschedal Cannabis Businesses — Marijuana Moment

MSOS remains well above its three-month low but below the upper end of its three-month range. Relative strength remained concentrated in MSOS and TLRY, while SNDL continued to lag. Leadership remains narrow rather than broadly constructive.

• Follow developments from the DEA hearing and any scheduling, banking, or tax-related federal updates.
• Watch whether advancers begin to outnumber decliners by a wider margin across the tracked universe.
• Track operator financing, guidance revisions, earnings updates, and exchange-related announcements for changes in relative strength leadership.
• Monitor whether MSOS can sustain closes above key moving averages after the latest weekly gain.
• Track whether dollar volume expands alongside price gains or fades into thinner trading conditions.