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Back Half of 2026 Will Define the Cannabis Industry

By Shadd Dales On Jul 4, 2026

In the Thursday Trade To Black podcast presented by Flowhub, we tackle the big questions: how the back half of 2026 is going to shape what comes next for cannabis. First up, TerrAscend (TSX: TSND | OTCQX: TSNDF) Executive Chairman Jason Wild and CEO Ziad Ghanem join the show to walk through what’s been happening on their side of the business. In Segment Two, Adam Stettner, CEO of FundCanna returns for his weekly appearance to provide his first week takeaways from the ALJ Hearing.

TerrAscend (TSX: TSND | OTCQX: TSNDF) Executive Chairman Jason Wild and CEO Ziad Ghanem joined to discuss several developments at the company. The pair confirmed TerrAscend had signed an option agreement to acquire Aunt Mary’s Dispensary in Hunterdon County, New Jersey, a tier-one location generating over ten million dollars annually and the company’s fifth retail location in the state. Ghanem outlined how TerrAscend has maintained gross margins near sixty percent despite retail pricing falling roughly fifty percent since adult use launched — a result he attributed to operational discipline, yield improvement, and real-time margin visibility through a fully implemented ERP system believed to be unique among MSOs.

The conversation also covered the DOJ lawsuit related to a disputed $8.3 million tax refund, with Wild clarifying that the July 17 filing represents a procedural step rather than an escalation, and that the company’s legal position remains sound. On uplisting, Wild confirmed a shareholder vote is set for August 25th to authorize a share consolidation, with a major exchange listing targeted for Q3 or Q4 pending full rescheduling.

Adam Stettner, CEO of FundCanna, returned for his weekly appearance to share his first-week read on the ALJ hearing, describing the government’s posture as unexpectedly strong and the tone inside the proceedings as markedly different from prior regulatory battles. He also previewed a forthcoming FundCanna data report analyzing first-half lending performance by geography and vertical, with early findings pointing to flattening demand in legacy markets and meaningful growth in newer adult-use states. A full release is expected within the next few weeks.

Is this a good sign for the cannabis industry in the rest of 2026? Hear the whole discussion when you listen to the full podcast.

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Shadd Dales

Shadd Dales is the Founder and President of The Dales Report and has an extensive background in the business media industry.

His work translates into over 15 years in mainstream media that included roles with BNN Bloomberg, CTV Properties and the iHeart Radio Network.

Shadd is considered one of the leading on air talents in both the cannabis and psychedelic space and has interviewed some of the most notable CEO names in the industry.

Shadd’s vision is to establish a content platform that is equivalent to a mainstream broadcast produced in a format that is relevant for today’s investor.