Opening Brief
November 6, 2026 · 2:00 PM UTC
Cannabis Opens Under Risk-Off Pressure
Risk-off backdrop with VIX elevated at 26.9, 10Y at 4.90%, S&P -4.4%. Selective strength across the 326-ticker cannabis universe — 35 advancing, 90 declining (28% up). Leaders and laggards: MRMD +7.6%, POSAF -36.6%. Analyst consensus tilts bullish — 43 Buys, 5 Holds, 7 Sells. Widest implied upside: QNTM to $8.00 (+279%). Elevated short interest concentrated in CGC at 10.9 days-to-cover.
CIN TAKE
Fragile tape — the risk-off backdrop is doing more damage to cannabis than idiosyncratic catalysts can offset. Elevated short pressure on the crowded names adds gap risk; avoid broad exposure. Wait for macro relief — VIX cooling and yields backing off — before adding sector beta.
Signal Context
Macro - Sector - AnalystMacro
Opportunities
Analyst
State Markets
Terminal · 38 StatesNightly-refreshed retail sales, tax collections, licensee counts, and wholesale prices for every state-legal cannabis market. Browse all state market data →