Cannabis Stocks Advance on Trump’s Planned Executive Action
Shares of companies involved in medical marijuana production and distribution saw gains on Wednesday, following CNN’s report that U.S. President Donald Trump plans to sign an executive order on Thursday to ease federal restrictions on cannabis.
According to the report, a White House official stated on Tuesday night that Trump intends to sign the order on Thursday, though the plan might still change.
In Toronto, Cresco Labs’ stock rose by 12.40% to CAD 2.72, followed by Trulieve Cannabis with a 5.59% increase to CAD 15.31 and Canopy Growth, which gained 4.74%.
Wall Street-listed companies also reported advances: Organigram Global increased by 7.65% to CAD 2.11, while Aurora Cannabis rose by 0.72% to close at CAD 5.57 per share.
Fibra Prologis Sells Property in Ciudad Juárez, Chihuahua
Fibra Prologis, a real estate trust and property manager, sold a portfolio of properties totaling 440,000 square feet in Ciudad Juárez, Chihuahua.
The company explained that it had intended to sell 50% of its portfolio a year ago to pay off short-term debt and distribute resources to bondholders, enabling the acquisition of strategic industrial properties.
The sale aims to optimize the portfolio, and further progress will be made through this transaction, according to Héctor Ibarzabal, Fibra Prologis’ CEO.
Banco Multiva Acquires CIBanco’s Fiduciary Business
Banco Multiva reported to investors on Wednesday that, with authorization from authorities, the transfer of CIBanco’s fiduciary business was successfully completed.
Recall that in June, the U.S. Treasury accused two Mexican banks, CI Banco and Intercam, of alleged money laundering and association with organized crime. No evidence has been found.
Banco Multiva now informs that, with this operation, it has assumed the role of common representative of the fiduciary business and ensured the continuity of operations in the market.
The acquisition strengthens Banco Multiva’s presence in the fiduciary market and common representation, increasing its stake and contributing to the consolidation of its strategic expansion plan, as approved by its Board of Directors.
Corporativo GBM Issues Two Bonds
Corporativo GBM, one of Mexico’s most active securities brokers, is issuing two bonds this week: one for one year and another for five years.
The one-year bond will be worth 7.5 billion pesos or its equivalent in units of investment or dollars, while the five-year bond will be issued for 100 million pesos.
In addition, GBM’s analysts anticipate that the 2026 FIFA World Cup will generate a 0.2% boost to Mexico’s GDP, with expected earnings of USD 4.3 billion to support the growth of the Mexican economy.
Key Questions and Answers
- Q: What drove the advance in cannabis stocks? A: The anticipated executive action by U.S. President Donald Trump to ease federal restrictions on cannabis.
- Q: What property did Fibra Prologis sell, and why? A: Fibra Prologis sold a 440,000 square feet property in Ciudad Juárez, Chihuahua, to pay off short-term debt and acquire strategic industrial properties.
- Q: What is the significance of Banco Multiva acquiring CIBanco’s fiduciary business? A: The acquisition strengthens Banco Multiva’s position in the fiduciary market, increases its stake, and supports its strategic expansion plan.
- Q: What bonds is Corporativo GBM issuing, and for how long? A: Corporativo GBM is issuing a one-year bond worth 7.5 billion pesos and a five-year bond worth 100 million pesos.
- Q: What impact does the 2026 FIFA World Cup in Mexico expect to have on the economy? A: Analysts from Corporativo GBM anticipate a 0.2% boost to Mexico’s GDP and USD 4.3 billion in earnings, supporting economic growth.
