Cannabis Countdown: Top 10 Marijuana And Psychedelic Stock News Stories Of The Week
Welcome to the Cannabis Countdown, the Legal Marijuana Industry’s Number One Curated Weekly News Recap.
In This Week’s Edition, We Recap and Countdown the Top 10 Cannabis and Psychedelic Stock News Stories for the Week of February 15th – 21st, 2021.
Without further ado, let’s get started.
* Yahoo Finance readers, please click here to view the full article.
10. Red White & Bloom’s Platinum Vape Gets Green Light for Arizona Launch + RWB Bullish Chart Setup
Following the Arizona Launch, Platinum Vape Products Will Be Available in 5 of America’s Top 10 Revenue Generating States, With Combined 2020 Sales of Over $7.6 Billion
Red White & Bloom (OTCQX: RWBYF) announced this morning that Platinum Vape (PV), a wholly-owned subsidiary of RWB, has been given the green light to move forward with its Arizona launch. Currently, RWB stock is consolidating beautifully into a Bull Pennant chart formation and appears spring-loaded for another large move to the upside. With the Cannabis sector in the midst of a very bullish uptrend, look for RWB’s consolidation period to be short and for RWB stock to break out again, sooner than later.
Champignon Announced That the Company Has Filed a Draft of a New Listing Statement With the BCSC and the Canadian Securities Exchange (CSE)
Led by world-renowned depression researcher Dr. Roger McIntyre as its Chairman and CEO, Champignon Brands (OTCQB: SHRMF) is a research-driven Psychedelics company specializing in breakthrough Ketamine treatment for depression and other mental health conditions. The company works closely with subsidiaries including AltMed Capital Corp. The Canadian Rapid Treatment Center of Excellence (CRTCE) is wholly owned by AltMed.
8. Jim Cramer Slams Sundial as Cannabis Company Raises Over M Via Warrant Exchange
Sundial Reported Friday That it Has Raised $89.1 Million Via a Warrant Exchange
Sundial Growers (NASDAQ: SNDL) noted that holders of 98.33 million warrants to buy shares of the company will exercise for cash their warrants at prices of 80 cents and $1.10 for gross proceeds to the company. In return, Sundial is supposed to issue 98.33 million new warrants, each enabling the holder to buy one share at a price of $1.50.
READ FULL SUNDIAL CRAMER ARTICLE
7. Mindset Pharma and Novamind Added to North American Psychedelics Index
The Index is Designed to Provide a Measure of the Performance of North American Publicly-Listed Life Sciences Companies Focused on Psychedelic Medicines, and Other Companies With Business Activities in the Psychedelics Industry
Horizons ETFs Management (Canada) announced that Mindset Pharma (OTC: MSSTF) and Novamind (CSE: NM) have been included as fast entry additions to the North American Psychedelics Index, which is the underlying index of the Horizons Psychedelic Stock Index ETF (NEO: PSYK).
READ FULL PSYCHEDELICS ETF ARTICLE
6. Creso Pharma Signs $2.5 Million Distribution Deal, Enters New Lucrative Asian Markets
Following a landmark Decision By the Country’s Government, Pakistan, With a Population of Over 216 million, Has Entered the Multi-Billion Dollar CBD Market
Poised to capitalize on the massive new market opportunity, Creso Pharma (OTC: COPHF) has signed an exclusive distribution deal to bring the company’s innovative Hemp-derived CBD products into Pakistan and the Philippines. The deal will also see Creso look at additional potential target markets, with a total addressable market of approximately 750 million people, which includes Cambodia, Afghanistan, Azerbaijan, Bangladesh, Georgia, the Maldives, Myanmar, Tajikistan, Turkmenistan, Uzbekistan, and Vietnam.
5. Revive Therapeutics Acquires Unique Psilocybin Assets
Pursuant to the Agreement, Revive Will Pay Aggregate Consideration of Up to CAD $10 Million
Revive Therapeutics (OTCPK: RVVTF) announced that it has entered into an asset purchase agreement with Newscope Capital Corporation (OTCPK: PHRRF) to acquire the full rights to PharmaTher intellectual property pertaining to Psilocybin. PharmaTher, a wholly-owned subsidiary of Newscope, is a specialty life sciences company focused on the research and development of Psychedelic pharmaceuticals.
4. Curaleaf: The Priciest But Not the Strongest of the Big 4 MSOs
The U.S. MSO Sector is Dominated By the Big 4 Players and Curaleaf is the Biggest Player in Terms of Scale and Market Capitalization
Curaleaf (OTCQX: CURLF) has the largest footprint among Multi-State Operators (MSOs) with a presence in 23 states. It also has the largest market cap among public U.S. cannabis companies at $11 billion, only behind Canopy Growth (NASDAQ: CGC). However, much of this scale was built through all-stock acquisitions that led to massive dilution. As a result, Curaleaf shares have lagged Trulieve (OTCQX: TCNNF) and Green Thumb (OTCQX: GTBIF) in both 2021 so far and the last year; we think the underperformance will continue.
The Acquisition Will Help Build a Full-Stack Digital Mental Health Platform for Psychedelic Medicines
MindMed (OTCQB: MMEDF) announced that it will acquire HealthMode, a digital medicine and therapeutics startup that uses Artificial Intelligence (AI)-enabled digital measurement to increase the precision and speed of clinical research and patient monitoring. Also, the company has added ex-Pfizer (NYSE: PFE) Digital Medicine Executive Dr. Daniel R. Karlin M.D. M.A. and former Google AI/ML industry veteran Bradford Cross to its executive team.
2. Village Farms is a Better Bet Than Canopy Growth: Raymond James
The Rest of Canada’s Cannabis Big Names May Have Their Own Strengths, But Investors Should Be Putting Their Money Behind Village Farms, Says Rahul Sarugaser, Analyst for Raymond James
In an update to clients, Sarugaser compared Village Farms’ (NASDAQ: VFF) stats to those of industry heavyweight Canopy Growth (NASDAQ: CGC), with VFF coming out the hands-down winner. “With VFF’s powered-up balance sheet, lean cost structure (few/no write-downs), and largest market share relative to its size, we continue to view VFF as the best value of the Canadian Big 5,” Sarugaser wrote.
1. Tilray Reports Profitable Q4, Says Aphria Merger is on Track
Tilray Reported its First Profitable Quarterly Period on Wednesday, Ahead of its Planned Merger With Aphria
The Nanaimo, B.C.-based cannabis producer said sharp increases in its adult-use and medical cannabis businesses led to it generating US$50.7 million in net revenue in the three-month period ended Dec. 31, an increase of 19% from a year earlier. Tilray (NASDAQ: TLRY) said it expects to close its blockbuster merger with Aphria (NYSE: APHA) in the second quarter of this year, which will make it the world’s largest cannabis company based on pro forma revenue.
Photo by Next Green Wave on Unsplash
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Cannabis Countdown: Top 10 Marijuana And Psychedelics Industry News Stories Of The Week
Cannabis Countdown: Top 10 Marijuana And Psychedelic Stock News Stories Of The Week
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