Cannabis Stock & Financial Glossary

The most abundant endocannabinoid in the human body that acts on both CB1 and CB2 receptors, playing a key role in immune function, pain modulation, and neuroprotection.

The Agriculture Improvement Act of 2018 that federally legalized hemp (cannabis with ≤0.3% THC), creating the legal framework for the CBD industry and hemp-derived cannabinoid products.

The actual tax rate paid by cannabis companies after Section 280E disallows standard business deductions, often resulting in effective rates of 60-80% compared to the standard corporate rate.

The lowest and highest prices at which a stock has traded during the previous 52 weeks (one year), providing context for current price levels.

A price range where institutional investors are believed to be building positions over time, characterized by sideways price action with gradually increasing volume.

The transition of a state's cannabis market from medical-only to adult-use (recreational) sales, typically resulting in significant market expansion but potential price compression.

An endogenous cannabinoid (endocannabinoid) produced naturally in the human body that binds to CB1 receptors and is involved in regulating mood, memory, appetite, and pain perception.

Companies that support the cannabis industry without directly handling the plant, such as equipment manufacturers, technology providers, and consulting firms.

A method of raising capital where a company sells newly issued shares gradually at prevailing market prices through a broker-dealer, common among cash-strapped cannabis companies.

A cannabis plant that transitions from vegetative growth to flowering based on age rather than changes in light cycle, derived from ruderalis genetics and popular with home growers.

The average price at which cannabis products are sold across a company's portfolio, calculated by dividing total revenue by total units or grams sold, tracking pricing power over time.

A volatility indicator that measures the average range between high and low prices over a specified period, helping traders gauge expected price movement.

An informal term for an investor holding shares that have declined significantly in value from their purchase price, particularly common in speculative cannabis stocks after hype cycles.

A measure of a stock's volatility relative to the overall market, where a beta greater than 1 indicates higher volatility — cannabis stocks typically have betas well above 1 due to regulatory uncertainty.

The difference between the highest price a buyer is willing to pay (bid) and the lowest price a seller will accept (ask) for a stock.

The proportion of a cannabinoid that enters systemic circulation and produces an active effect, varying significantly by consumption method — inhalation (~30-50%), oral (~6-20%), sublingual (~12-35%).

A seed-to-sale tracking platform used by several US states to monitor cannabis inventory, sales, and compliance from cultivation through retail distribution.

A volatility indicator consisting of a middle band (SMA) and two outer bands set two standard deviations above and below, used to measure price volatility.

The net asset value of a company calculated as total assets minus total liabilities, representing the theoretical value shareholders would receive if all assets were liquidated.

A price movement through an identified level of support or resistance, typically accompanied by increased volume, signaling the potential start of a new trend direction.

A cannabis extract that contains multiple cannabinoids and terpenes but has THC completely removed, offering some entourage effect benefits without psychoactive effects.

A Canadian stock exchange that became the primary listing venue for US cannabis companies, as the TSX and major US exchanges prohibit companies violating federal drug laws.

A class of chemical compounds found in the cannabis plant that interact with the body's endocannabinoid system, including THC, CBD, and over 100 other identified compounds.

A condition associated with chronic, heavy cannabis use characterized by cyclic episodes of severe nausea, vomiting, and abdominal pain, often relieved by hot showers.

The challenge cannabis companies face in accessing traditional financial services due to federal prohibition, forcing many to operate primarily in cash or use credit unions and specialized banks.

The systems, processes, and practices cannabis businesses must maintain to adhere to state and local regulations covering licensing, testing, tracking, packaging, security, and reporting.

An Exchange-Traded Fund that invests in a basket of cannabis-related stocks, providing diversified exposure to the cannabis industry in a single security.

The dried, trimmed buds of the female cannabis plant that contain the highest concentration of cannabinoids and terpenes, representing the most traditional form of cannabis consumption.

State-mandated rules governing cannabis product packaging including child-resistant containers, opaque materials, warning labels, THC content disclosure, and universal symbol requirements.

A Real Estate Investment Trust that specializes in owning and leasing properties to cannabis operators, providing real estate exposure to the cannabis industry.

The process of moving cannabis from Schedule I to Schedule III of the Controlled Substances Act, which would eliminate Section 280E tax burdens and open new research and business pathways.

Programs and policies designed to ensure that communities disproportionately impacted by cannabis prohibition have equitable access to cannabis licensing, employment, and business ownership opportunities.

Cultivation techniques used to optimize cannabis plant growth, light exposure, and yield including topping, training, defoliation, and Screen of Green (SCROG) methods.

Funds used by a company to acquire, upgrade, or maintain physical assets such as cultivation facilities, processing equipment, or retail buildouts, deducted from operating cash flow to calculate free cash flow.

A person designated by a medical cannabis patient to assist with obtaining, transporting, and administering cannabis, often with the legal right to cultivate on the patient's behalf.

A spicy, peppery terpene found in cannabis, black pepper, and cloves that is unique in its ability to directly bind to CB2 receptors, giving it potential anti-inflammatory properties.

The rate at which a company spends its cash reserves, typically measured monthly, indicating how long a company can operate before needing additional funding.

An event or piece of information that causes a significant change in a stock's price direction, such as earnings reports, regulatory decisions, or M&A announcements in the cannabis sector.

A cannabinoid receptor primarily located in the brain and central nervous system that mediates the psychoactive effects of THC and plays a role in pain, mood, appetite, and memory.

A cannabinoid receptor primarily found in immune cells and peripheral tissues that plays a role in inflammation and immune response without producing psychoactive effects.

A non-psychoactive cannabinoid that is one of the most abundant cannabinoids in the cannabis plant, studied for its potential anti-inflammatory and analgesic properties.

A non-psychoactive cannabinoid found in cannabis that has gained widespread commercial popularity for wellness applications and is legal in many jurisdictions.

The acidic precursor to CBD found in raw cannabis plants that converts to CBD through decarboxylation, studied for potential anti-nausea and anti-inflammatory properties.

A non-psychoactive cannabinoid often called the 'mother cannabinoid' because it is the precursor from which other cannabinoids like THC and CBD are synthesized in the cannabis plant.

A mildly psychoactive cannabinoid that forms as THC degrades over time through oxidation, commonly associated with sedative effects and aged cannabis products.

A laboratory report that details the cannabinoid potency, terpene profile, and safety testing results (pesticides, heavy metals, microbials) of a cannabis product.

The tight cluster of buds that form at the top of cannabis branches, with the main cola (apical bud) growing at the very top of the plant and being the largest flower site.

A 2013 Department of Justice memo that deprioritized federal enforcement against state-legal cannabis operations, rescinded in 2018 by AG Jeff Sessions but widely considered a framework for federal restraint.

The expenses cannabis companies incur to meet regulatory requirements including licensing fees, testing, tracking systems, security, and legal counsel, often representing a significant operational burden.

A licensed establishment where adults can legally consume cannabis on-premises in a social setting, emerging in states like Nevada, California, and New York as a new cannabis venue category.

A debt instrument that can be converted into equity shares at a predetermined price, frequently used by cannabis companies to raise capital when traditional financing is unavailable.

The direct costs attributable to producing cannabis products including cultivation labor, materials, and processing, used to calculate gross profit and one of few deductions allowed under 280E.

Small-batch, artisanal cannabis produced by independent cultivators emphasizing quality, unique genetics, and sustainable growing practices over large-scale commercial production.

The scientifically preferred term for what is colloquially called a cannabis 'strain,' referring to a plant variety that has been selectively bred for specific desired characteristics.

A cannabis-specific operational metric that calculates the total cost of growing and harvesting cannabis divided by total grams produced, used to benchmark cultivation efficiency.

A bullish chart pattern resembling a tea cup where the price forms a rounded bottom (cup) followed by a smaller downward drift (handle) before breaking out to new highs.

The post-harvest process of slowly drying and aging cannabis buds in controlled conditions to improve flavor, smoothness, and potency while preventing mold and preserving terpenes.

A liquidity ratio that divides current assets by current liabilities, measuring a company's ability to pay short-term obligations, with ratios below 1.0 suggesting potential liquidity risk.

A method of consuming cannabis concentrates by vaporizing them on a heated surface (nail or banger) and inhaling the vapor, producing intense, immediate effects due to high cannabinoid concentration.

A private exchange or forum for trading securities where orders are not visible to the public market, allowing institutional investors to execute large trades without impacting market prices.

A trading strategy where positions are opened and closed within the same trading day, seeking to profit from short-term price movements.

The Drug Enforcement Administration's process of classifying substances into schedules (I-V) based on medical use, abuse potential, and safety, directly determining the legal status of cannabis.

A bearish technical pattern that occurs when a short-term moving average crosses below a long-term moving average, often signaling the start of a downtrend.

The process of renegotiating existing debt terms to improve a company's financial position, common among cannabis companies facing high-interest loans from non-traditional lenders.

A financial leverage ratio that compares a company's total liabilities to shareholder equity, indicating how much debt is used to finance assets relative to equity.

The chemical process of applying heat to cannabis to convert non-psychoactive acidic cannabinoids (THCA, CBDA) into their active forms (THC, CBD) by removing a carboxyl group.

A minor cannabinoid isomer of THC that produces milder, more energizing psychoactive effects than Delta-9 THC and is typically synthesized from hemp-derived CBD.

An isomer of THC with a double bond on the eighth carbon chain that produces milder psychoactive effects than Delta-9 THC and exists in a legal gray area under the 2018 Farm Bill.

The complete removal of cannabis from the Controlled Substances Act scheduling system, which would eliminate federal prohibition and allow states to regulate cannabis like alcohol.

The reduction in existing shareholders' ownership percentage when a company issues new shares, often through secondary offerings, convertible notes, or employee stock options.

A licensed retail establishment authorized to sell cannabis products directly to consumers, operating under state and local regulations with requirements for security, tracking, and compliance.

A retail efficiency metric dividing a dispensary's annual revenue by its selling floor area, used to compare productivity across cannabis retail locations.

A highly refined cannabis concentrate that isolates specific cannabinoids (typically THC or CBD) to near-pure levels through molecular distillation, often used in vape cartridges and edibles.

A price range where institutional investors are believed to be selling their positions, characterized by sideways or slightly declining price action with elevated volume.

The annual dividend payment divided by the stock price expressed as a percentage, extremely rare in the cannabis sector as most companies reinvest all earnings or operate at a loss.

A bullish reversal chart pattern where a stock's price reaches the same low point twice with a moderate peak between them, signaling that selling pressure is exhausted.

A quarterly conference call where a company's management discusses financial results, provides guidance, and answers questions from analysts and investors, offering insight into business direction.

A company's net income divided by its total shares outstanding, showing how much profit is attributable to each share of stock.

Earnings Before Interest, Taxes, Depreciation, and Amortization — a measure of core operational profitability that strips out financing and accounting decisions.

EBITDA expressed as a percentage of total revenue, measuring operational profitability before interest, taxes, depreciation, and amortization — a key profitability benchmark for cannabis companies.

A cannabis-infused food or beverage product that delivers cannabinoids through oral ingestion, with effects typically onset in 30-120 minutes and lasting 4-8 hours.

A biological signaling system present in all mammals that regulates homeostasis through endogenous cannabinoids, cannabinoid receptors (CB1 and CB2), and metabolic enzymes.

A measure of a company's total value that includes market cap plus total debt minus cash, representing the theoretical takeover price of a business.

A valuation multiple that compares enterprise value to annual revenue, widely used for pre-profit companies where earnings-based ratios are not meaningful.

The theory that cannabis compounds including cannabinoids, terpenes, and flavonoids work synergistically to produce effects greater than any single compound alone.

A tax levied on cannabis at the point of cultivation, distribution, or sale, often calculated per unit weight or as a percentage of wholesale/retail price, separate from general sales tax.

The total pay package for corporate officers including salary, bonuses, stock options, and benefits, a key governance issue in cannabis where some executives receive outsized pay relative to company performance.

A type of moving average that places greater weight on recent prices, making it more responsive to new information than a simple moving average.

The process of separating cannabinoids and terpenes from plant material using solvents (CO2, ethanol, butane) or solventless methods (heat, pressure) to create concentrated cannabis products.

The Food and Drug Administration's regulatory authority over cannabis products marketed with therapeutic claims, having approved only one cannabis-derived drug (Epidiolex) as of 2025.

Cannabis seeds bred to produce only female plants, eliminating the need to identify and remove male plants and ensuring every plant can produce harvestable flower.

A technical analysis tool that uses horizontal lines at key Fibonacci ratios (23.6%, 38.2%, 50%, 61.8%) to identify potential support and resistance levels during price pullbacks.

The number of shares available for public trading, calculated by subtracting restricted and closely held shares from total shares outstanding.

An annual comprehensive report filed with the SEC that provides a thorough overview of a company's financial performance, business operations, and risk factors.

A quarterly report filed with the SEC that provides unaudited financial statements and an update on a company's operations for the most recent fiscal quarter.

An SEC filing that corporate insiders must submit when they buy or sell shares of their own company, providing transparency into insider trading activity.

The cash a company generates from operations after accounting for capital expenditures, representing money available for dividends, debt repayment, or reinvestment.

A financial ratio that compares free cash flow per share to market price per share, indicating how much cash a company generates relative to its market valuation.

A cannabis extract that retains the complete range of cannabinoids, terpenes, flavonoids, and other plant compounds present in the original plant, supporting the entourage effect.

A price discontinuity where a stock opens significantly higher (gap up) or lower (gap down) than its previous close, often caused by after-hours news, earnings, or regulatory announcements.

The complete genetic makeup of a cannabis plant that determines its potential traits, though actual expression depends on environmental factors and cultivation practices.

An auditor's warning included in financial statements when there is substantial doubt about a company's ability to continue operating, common among unprofitable cannabis companies with high debt.

A bullish technical pattern that occurs when a short-term moving average crosses above a long-term moving average, often signaling the start of an uptrend.

A non-cash charge recorded when the fair value of an acquired business falls below its carrying value on the balance sheet, frequently seen in cannabis M&A as asset values decline.

The percentage of revenue remaining after subtracting the cost of goods sold, indicating how efficiently a company produces its goods or services.

The profit a company earns after deducting the direct costs of producing and selling its products, calculated as revenue minus cost of goods sold.

Forward-looking financial projections provided by a company's management regarding expected future revenue, earnings, or other metrics, used by analysts to set expectations.

A concentrated cannabis product made by compressing or processing trichomes and kief into a solid or semi-solid form, one of the oldest known cannabis concentrates.

A bearish reversal pattern with three peaks — a higher middle peak (head) flanked by two lower peaks (shoulders) — indicating a trend reversal from bullish to bearish upon neckline break.

Cannabis sativa containing no more than 0.3% THC by dry weight, legally distinguished from marijuana under the 2018 Farm Bill and federally legal to cultivate, process, and sell.

A hydrogenated form of THC that occurs naturally in trace amounts in cannabis and can be synthesized from hemp-derived CBD, producing psychoactive effects similar to Delta-9 THC.

The legal right to grow a limited number of cannabis plants for personal use at a private residence, permitted in many but not all legal cannabis states with plant count limits.

A cannabis variety bred by crossing indica and sativa genetics to combine desirable traits from both, representing the majority of modern commercial cannabis cultivars.

The unlicensed, unregulated cannabis market that continues to operate alongside legal markets, often competing on price due to the absence of taxes, testing costs, and compliance expenses.

The market's forecast of a likely movement in a security's price derived from options pricing, with higher IV indicating greater expected price swings and more expensive options premiums.

A classification of cannabis historically associated with shorter, bushier plants and relaxing, sedative effects, though modern genetics have blurred the distinction with sativa.

The percentage of a company's shares held by officers, directors, and other corporate insiders, indicating management's alignment with shareholder interests and confidence in the business.

The percentage of a company's shares held by large financial organizations such as mutual funds, pension funds, and hedge funds, often limited in cannabis due to federal prohibition.

The potential future ability to transport and sell cannabis across state lines, currently prohibited by federal law but expected to open significant market dynamics if cannabis is descheduled.

The purest form of a cannabis compound (typically CBD or THC) refined to 99%+ purity with all other plant compounds removed, available as a crystalline powder.

The collection of loose trichome heads that separate from cannabis flower, forming a fine, potent powder that can be consumed on its own or pressed into hash.

A cannabis variety that has developed naturally in its geographic environment over centuries without deliberate human breeding, forming the genetic foundation of modern cultivars.

A real-time order book showing all bid and ask prices with their corresponding sizes from multiple market makers, providing deeper insight into supply and demand than standard Level 1 quotes.

The formal process of applying for a state or local cannabis business license, often involving detailed business plans, security plans, community impact assessments, and significant application fees.

A cannabis company licensed by Health Canada to cultivate, process, and sell cannabis under the federal Cannabis Act framework.

A type of order to buy or sell a stock at a specified price or better, giving traders control over execution price but not guaranteeing the order will be filled.

A terpene found in cannabis and citrus fruits that produces a bright citrus aroma, associated with potential mood elevation, stress relief, and anti-anxiety effects.

A floral terpene found in cannabis and lavender known for its calming scent, associated with potential anti-anxiety, sedative, and analgesic properties.

A cannabis concentrate made from fresh-frozen plant material that preserves the full terpene and cannabinoid profile present at harvest, producing superior flavor and aroma.

An organic cultivation method that uses a biologically active soil ecosystem of microorganisms, fungi, and beneficial bacteria to naturally provide nutrients to cannabis plants.

A contractual restriction preventing insiders and early investors from selling shares for a specified period after an IPO or equity issuance, typically 90-180 days in cannabis deals.

A trend-following momentum indicator that shows the relationship between two exponential moving averages, used to identify changes in trend direction and strength.

The total market value of a company's outstanding shares, calculated by multiplying the current stock price by the total number of shares outstanding.

Firms or individuals that actively quote both buy and sell prices for a security, providing liquidity and facilitating trading in the market.

An order to buy or sell a stock immediately at the current best available price, guaranteeing execution but not a specific price.

The overall attitude and emotional tone of investors toward a particular security or market, often measured through indicators like the put/call ratio, VIX, and survey data.

The percentage of total industry or state cannabis sales captured by a specific company, brand, or product category, a key competitive metric as cannabis markets mature.

A state-issued identification card that authorizes a patient to purchase cannabis from licensed dispensaries for qualifying medical conditions, typically requiring a physician recommendation.

The consolidation of companies through various transactions including mergers, acquisitions, and asset purchases, a common growth strategy in the cannabis industry as operators seek scale.

Marijuana Enforcement Tracking Reporting Compliance — the most widely used seed-to-sale cannabis tracking system mandated by state regulators to monitor cannabis from cultivation through final sale.

The practice of consuming very small amounts of cannabis (typically 1-5mg THC) to achieve subtle therapeutic benefits while minimizing psychoactive effects and maintaining functionality.

The Marijuana Opportunity Reinvestment and Expungement Act, proposed federal legislation to deschedule cannabis, expunge prior convictions, and impose a federal tax to fund social equity programs.

A technical indicator that smooths out price data by creating a constantly updated average price over a specific time period, helping identify trends.

A cannabis company that holds licenses to cultivate, process, and sell cannabis in multiple US states, operating vertically integrated businesses across state lines.

The most common terpene found in cannabis, also present in mangoes and hops, associated with earthy, musky aromas and potentially sedative, muscle-relaxant effects.

The total profit of a company after all expenses, taxes, and costs have been subtracted from total revenue, often referred to as the bottom line.

A momentum indicator that uses volume flow to predict changes in stock price, adding volume on up days and subtracting it on down days.

The total amount of cash generated by a company's normal business operations, showing whether a company can generate sufficient positive cash flow to maintain and grow.

The profit earned from a company's core business operations after deducting operating expenses such as wages, depreciation, and cost of goods sold.

The total number of outstanding options contracts that have not been settled or closed, indicating the level of activity and liquidity in the options market for a given security.

Cannabis grown without synthetic pesticides, herbicides, or chemical fertilizers, though USDA organic certification is currently unavailable for cannabis due to federal prohibition.

Over-the-counter markets where securities are traded directly between parties without a centralized exchange, commonly used by cannabis companies unable to list on major exchanges.

The total number of registered medical cannabis patients in a state or company's market, a key demand indicator for medical-only and dual-use cannabis markets.

Stocks that trade at a very low price, typically under $5 per share, often on OTC markets with lower liquidity and higher volatility.

Mandatory laboratory screening of cannabis products for prohibited pesticide residues, heavy metals, mycotoxins, and microbial contaminants to ensure consumer safety before retail sale.

The observable physical characteristics of a cannabis plant (height, color, bud structure, terpene profile) resulting from the interaction of its genotype with environmental conditions.

A cannabis plant that requires specific light cycle changes (typically 12/12 hours of light/dark) to trigger flowering, giving growers more control over vegetative growth duration.

A terpene found in cannabis, pine trees, and rosemary that produces a sharp pine aroma and is associated with potential anti-inflammatory and bronchodilator effects.

A private placement where accredited investors purchase stock directly from a public company at a discount to market price, a common capital-raising method for cannabis companies with limited banking access.

A defensive strategy used by a company to discourage hostile takeovers by allowing existing shareholders to purchase additional shares at a discount if any single investor acquires a large stake.

The maximum amount of cannabis that an individual may legally possess at one time under state or local law, typically measured in ounces of flower and milligrams of concentrate.

Laboratory analysis required by state regulations to determine the exact cannabinoid concentrations (THC, CBD, etc.) in cannabis products before they can be sold to consumers.

The sustained decline in cannabis wholesale and retail prices driven by market oversupply, increasing competition, and the transition from limited-license to open markets.

A ratio comparing a company's market value to its book value, calculated by dividing the stock price by book value per share.

A valuation ratio that compares a company's current stock price to its earnings per share, indicating how much investors are willing to pay per dollar of earnings.

A valuation ratio that compares a company's stock price to its revenues, calculated by dividing market cap by total revenue over the trailing twelve months.

An SEC-required document filed before a shareholder meeting that discloses executive compensation, board nominees, and matters requiring shareholder votes.

The ratio of put options volume to call options volume, used as a contrarian sentiment indicator where high ratios suggest bearish sentiment and low ratios suggest bullish sentiment.

A comparison of a stock's price performance against a benchmark index or sector over a given period, identifying whether the stock is outperforming or underperforming its peers.

The administrative or legislative process of moving cannabis to a less restrictive schedule under the Controlled Substances Act, as distinguished from descheduling which removes it entirely.

A price level where selling pressure is strong enough to prevent further advance, acting as a ceiling where supply historically overwhelms buying demand.

A profitability ratio that measures how effectively a company uses shareholder equity to generate profits, calculated as net income divided by shareholders' equity.

A profitability ratio that measures how efficiently a company uses its total invested capital (debt + equity) to generate profits, indicating management's capital allocation effectiveness.

Trailing twelve months revenue represents the total sales generated by a company over the most recent four consecutive quarters.

The year-over-year percentage increase or decrease in a company's total revenue, indicating the rate at which a business is expanding or contracting.

A corporate action that reduces the number of outstanding shares while proportionally increasing the share price, often used by cannabis companies to maintain exchange listing requirements.

A congressional budget rider that prohibits the DOJ from using federal funds to interfere with state medical cannabis programs, renewed annually as part of appropriations bills.

A solventless cannabis concentrate produced by applying heat and pressure to cannabis flower or hash, prized for its purity and full terpene profile retention.

A momentum oscillator that measures the speed and magnitude of recent price changes on a scale of 0 to 100, used to identify overbought or oversold conditions.

A subspecies of cannabis originating from Central Asia that auto-flowers based on age rather than light cycle, commonly crossbred to create autoflowering commercial cultivars.

Proposed US legislation that would protect financial institutions from federal penalties for providing banking services to state-legal cannabis businesses.

A transaction where a cannabis company sells its real estate or cultivation facility to a REIT or investor and simultaneously leases it back, freeing up capital while maintaining operational control.

The revenue change at dispensary locations open for at least one year, isolating organic growth from new store openings and providing a clearer picture of operational performance.

A classification of cannabis historically associated with taller plants and energizing, cerebral effects, though modern research suggests terpene and cannabinoid profiles are better predictors of effects.

The most restrictive DEA classification for substances deemed to have high abuse potential, no currently accepted medical use, and a lack of accepted safety — the current federal classification of cannabis.

A DEA classification for substances with moderate to low potential for dependence, the proposed new schedule for cannabis that would eliminate 280E tax burdens and allow interstate research.

A regulatory document submitted to the Securities and Exchange Commission that publicly traded companies are required to file, disclosing financial and material business information.

A provision of the US Internal Revenue Code that prevents businesses trafficking in controlled substances from deducting ordinary business expenses, significantly increasing effective tax rates for cannabis companies.

A regulatory compliance system that tracks cannabis plants from cultivation through processing, distribution, and final sale to consumers.

The decrease in earnings per share and ownership percentage that occurs when a company increases its total share count through new issuances or conversions.

The total number of shares of a company's stock that have been issued and are currently held by all shareholders, including institutional investors and insiders.

An SEC filing that allows a company to register new securities and sell them over a three-year period without filing additional registrations, giving flexibility to raise capital quickly.

The total number of shares of a stock that have been sold short but not yet covered or closed out, indicating bearish sentiment.

A rapid price increase that occurs when short sellers are forced to buy shares to cover their positions, creating additional upward pressure as rising prices trigger more covering.

An arithmetic moving average calculated by adding recent prices and dividing by the number of periods, giving equal weight to all data points.

A cannabis company that operates exclusively within one state's market, often holding cultivation, processing, and retail licenses only in that jurisdiction.

A permit issued by a state regulatory authority that grants the right to cultivate, process, distribute, or sell cannabis within that state's jurisdiction.

State-level taxes imposed on cannabis sales that vary widely by jurisdiction, including percentage-based sales taxes, weight-based cultivation taxes, and THC-potency-based taxes.

A corporate action where a company purchases its own outstanding shares from the market, reducing share count and potentially increasing earnings per share and stock price.

An order placed with a broker to sell a stock when it reaches a certain price, designed to limit an investor's loss on a position.

A contract between a cannabis cultivator or processor and a retailer or distributor specifying volume, pricing, quality standards, and delivery terms for cannabis products.

Price levels where a stock historically tends to stop falling (support) or stop rising (resistance), acting as psychological barriers in trading.

A price level where buying interest is strong enough to prevent further decline, acting as a floor where demand historically absorbs selling pressure.

A trading strategy that aims to capture gains over a period of days to weeks by identifying and trading price swings within a larger trend.

A company's total book value minus intangible assets and goodwill, representing the net value of physical assets that could be liquidated, particularly relevant for asset-heavy cannabis cultivators.

Aromatic organic compounds produced by cannabis and many other plants that contribute to flavor, aroma, and potentially therapeutic effects through the entourage effect.

A terpene found in cannabis, nutmeg, and tea tree that produces floral, herbaceous aromas and is less common than other primary terpenes in most cannabis cultivars.

The primary psychoactive compound in cannabis responsible for producing the 'high' sensation, and a key factor in product classification and regulatory status.

The non-psychoactive acidic precursor to THC found in raw cannabis that converts to psychoactive THC through decarboxylation when exposed to heat.

A minor cannabinoid structurally similar to THC that may have appetite-suppressing properties and a shorter-duration psychoactive effect at higher doses.

A liquid cannabis extract typically dissolved in alcohol or oil and administered sublingually (under the tongue), offering precise dosing and relatively fast onset compared to edibles.

The physiological adaptation that occurs with regular cannabis use, requiring increased doses to achieve the same effects due to CB1 receptor downregulation in the brain.

A cannabis-infused product applied directly to the skin such as lotions, balms, and patches, providing localized relief without systemic psychoactive effects.

Canada's largest stock exchange where major Canadian licensed producers list their shares, though it prohibits listings of companies with material US cannabis operations.

The total revenue opportunity available for a cannabis product or service if it achieved 100% market share, used to estimate the growth potential of the cannabis industry or a specific segment.

Microscopic, mushroom-shaped glandular structures on cannabis flowers and leaves that produce and store cannabinoids, terpenes, and flavonoids, appearing as a frosty crystal coating.

The sugar leaves and small leaf matter trimmed from cannabis buds during harvest processing, often used to make concentrates, edibles, or pre-rolls due to their residual cannabinoid content.

The process of a cannabis company moving its stock listing from OTC markets or the CSE to a major exchange like NYSE or NASDAQ, typically requiring federal legalization or rescheduling.

A device that heats cannabis flower or concentrates to a temperature that releases cannabinoids and terpenes as vapor without combustion, considered a less harmful inhalation method.

A business model where a cannabis company controls multiple stages of the supply chain, from cultivation and processing to distribution and retail sales.

A cannabis business structure where a single company controls cultivation, extraction, manufacturing, distribution, and retail, common in limited-license states to maintain regulatory oversight.

A statistical measure of the dispersion of returns for a given security, with higher volatility indicating larger and more frequent price swings.

The total number of shares or contracts traded for a given security during a specified time period, indicating the level of activity and liquidity.

A charting tool that displays trading activity distributed over price levels rather than time, showing where the most volume has traded and identifying key support and resistance zones.

A trading benchmark that gives the average price a security has traded at throughout the day, weighted by volume at each price level.

A financial instrument that gives the holder the right to purchase shares at a specific price before expiration, commonly issued alongside cannabis company debt or equity offerings as a sweetener.

A business arrangement where a cannabis producer manufactures products that other companies rebrand and sell under their own label, common for vape cartridges, edibles, and pre-rolls.

The difference between current assets and current liabilities, measuring a company's short-term liquidity and its ability to fund day-to-day operations without additional financing.