4 Marijuana Stocks to Watch a New Cannabis Legalization Initiatives Commence
CORAL GABLES, FL / ACCESSWIRE / December 12, 2018 / The latest headlines out of New York have cannabis stocks jumping during premarket trading on Wednesday. The latest news from the Empire State highlights Governor Cuomo and plans for recreational legalization in New York. "We're drafting legislation," Rich Azzopardi, a spokesman for the governor, told NBC News on Tuesday when asked about decriminalizing weed.
With this news circulating since late Tuesday, marijuana stocks have gotten much more attention. Some of the cannabis stocks to watch this week include Premier Health Group (OTC:PHGRF) (CSE:PHGI), New Age Beverages (NBEV), Innovative Industrial Properties, Inc. (IIPR), and CV Sciences (CVSI).
Premier Health Group (OTC:PHGRF) (CSE:PHGI) has had one of its most active weeks of the quarter. The excitement surrounding new progress in Canada in addition to Farm Bill prospects have bolstered the market for many cannabis companies like Premier Health Group (OTC:PHGRF) (CSE:PHGI). The company announced this week that as a part of its growth strategy to cover the major verticals associated with primary care, it has signed a binding Letter of Intent to acquire a Vancouver, British Columbia based pharmacy. Premier Health Group (OTC:PHGRF) (CSE:PHGI) said that it expects the acquisition to close in or about Q1-19.
In line with other pharmacy focused companies, this move could prove to be an exciting one for Premier Health Group (OTC:PHGRF) (CSE:PHGI). The Canadian medical cannabis clinic market is estimated to be worth approximately $2.35 billion by 2025.
"We are excited for this opportunity to acquire our first pharmacy, and thereafter being able to prepare and deliver prescription and non-prescription pharmaceuticals and other health products to patients. In doing so, the pharmacist will play an integral role in our team-based patient-centric model," said Dr. Essam Hamza, CEO of Premier.
The company currently has an ecosystem of over 100,000 active patients and has plans to rapidly increase that number both domestically and internationally.
Since the beginning of the month, shares of Premier Health Group (OTC:PHGRF) (CSE:PHGI) have jumped from $0.56 to highs of $0.79 on Tuesday.
For More Information On Premier Health Group, Click Here
New Age Beverages (NBEV) jumped during premarket trading on Wednesday morning. The company has been making headlines for its focus on CBD infused beverages. With companies like Coca-Cola and Pepsi still waiting on the sidelines, companies like these have been among many marijuana stocks being watched closely.
New Age Beverages announced the signing of a definitive agreement to acquire Morinda Holdings, Inc., a Utah-based healthy lifestyles and beverage company with operations in more than 60 countries around the world.
The merger creates the 40th largest non-alcoholic beverage company in the world with $300 million in net revenue, $20 million in adjusted EBITDA, $200 million in assets, no debt, and $40 million in cash and working capital.
For More Information On New Age Beverage, Click Here
Innovative Industrial Properties, Inc. (IIPR) is focused on the acquisition, ownership, and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities.
In its most recent corporate financial statement, Innovative Industrial Properties (IIPR) generated total revenues of approximately $3.9 million in the quarter, representing an increase of more than 150% from the prior year. As of November 7, 2018, the Company owned ten properties located in Arizona, Colorado, Maryland, Massachusetts, Michigan, Minnesota, New Yorkand Pennsylvania, totaling approximately 952,000 rentable square feet, which were 100% leased with a weighted-average remaining lease term of approximately 14.7 years.
Shares of the company have climbed from lows of $46.13 in late November to highs of $52.18 this month.
For More Information On Innovative Industrial Properties, Click Here
CV Sciences (CVSI) has also seen new highs this month, which followed quarterly lows in November. CV announced today that it has received Nutritional Outlook's 2018 Best of the Industry Awards, Retail/Brand Product, for the Company's best-selling PlusCBD Oil™ line of hemp-derived CBD products.
CV Sciences was recognized for its leadership role in providing transparency to the safety of its ingredients, which include hemp extract comprising of a full spectrum of naturally-occurring phytocannabinoids including CBD, fatty acids, terpenes, plant sterols and vitamin E. In September 2018, the Company's Gold Formula products received self-affirmed Generally Recognized as Safe (GRAS) status in accordance with U.S. Food and Drug Administration (FDA) safety guidelines, an initiative demonstrating its dedication in establishing responsible practices for the burgeoning hemp CBD industry.
For More Information On CV Sciences, Click Here
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