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Key Takeaways
- FDA announced it will not pursue enforcement action against certain hemp-derived oral CBD products
- The cannabis sector experienced its strongest weekly rally of 2026, climbing 16%
- Major players Tilray (TLRY), Canopy Growth (CGC), and Curaleaf saw significant Thursday gains
- This development comes after President Trump’s executive order rescheduled marijuana to Schedule III in December
- Industry experts note the policy remains limited and doesn’t constitute comprehensive regulation
The cannabis industry experienced its most impressive weekly rally of 2026 following the FDA’s announcement of a more lenient approach toward CBD-containing products. Multiple leading cannabis companies saw substantial share price increases, marking the sector’s strongest weekly showing since December.
In a Wednesday letter, FDA Commissioner Marty Makary outlined that the agency would refrain from enforcing specific sections of the Federal Food, Drug, and Cosmetic Act against hemp-based oral products solely due to their CBD content. This enforcement discretion extends to products sold as dietary supplements and those prescribed by healthcare providers.
CBD, a non-intoxicating cannabinoid extracted from cannabis plants, has gained popularity for various wellness applications and appears in numerous consumer health products.
Interestingly, cannabis stocks began climbing Tuesday, a day ahead of the White House and FDA launching a four-part meeting series with industry participants to address CBD compliance matters and enforcement strategies.
This latest FDA stance complements President Trump’s December executive action, which reclassified marijuana from Schedule I to Schedule III within federal drug classifications. That directive also instructed the FDA, National Institutes of Health, and Centers for Medicare and Medicaid Services to explore avenues for broadening CBD access for therapeutic purposes.
Following December’s executive order, cannabis stocks experienced a temporary surge before retreating. The industry continues to grapple with challenges related to financial services access, stock exchange listings, and cross-state commerce resulting from federal limitations.
Tilray Brands (TLRY)
Tilray emerged as a leading performer during the week. The stock climbed 6.7% in Thursday’s session and ranked among the sector’s highest by trading volume. The enterprise conducts research, cultivation, processing, and distribution of medical cannabis throughout various nations, including Canada, Germany, Australia, and Argentina.
Canopy Growth (CGC)
Canopy Growth advanced 2.6% on Thursday. The organization markets cannabis and hemp-based products for both adult-use and medical applications in the United States, Canada, Germany, and additional global territories. The company also maintains its Storz and Bickel division, which manufactures cannabis vaporization devices. Canopy Growth joined Tilray as one of this week’s most actively traded cannabis equities.
Canopy Growth Corporation, CGC
Curaleaf Holdings
Curaleaf delivered the most impressive Thursday performance among major cannabis names, surging 8.4%. This domestically-focused cannabis operation has attracted significant investor attention as market participants monitor potential federal policy changes that could facilitate interstate cannabis commerce.
The AdvisorShares Pure US Cannabis exchange-traded fund climbed 4.6% Thursday and recorded a 16% weekly advance, positioning it for its strongest weekly showing since December.
An industry analyst observed that the policy remains “narrowly scoped” and falls short of establishing a comprehensive framework for the wider cannabis marketplace, urging Congressional action.
The FDA conducted its initial stakeholder meeting regarding CBD policy on Wednesday, with three additional sessions planned as part of the ongoing series.
