The ETFMG Alternative Harvest ETF MJ traded lower on Monday as investors continued to take profits on the post-election run-up in cannabis stocks. This week is a big week in the cannabis space with several potential catalysts of note ahead.
Here are for things cannabis investors should be watching this week.
Monday: Perhaps the biggest potential event this week is the New Jersey legislature voting on a revised cannabis deal in the state. Cantor Fitzgerald analyst Pablo Zuanic said that Curaleaf Holdings Inc. CURLF, Green Thumb Industries Inc. GTBIF and Columbia Care Inc. CCHWF are among the cannabis stocks with the largest presence in New Jersey.
“Note that a court ruling may pave the way for 24 more licenses to be issued in NJ,” Zuanic said.
Related Link: 3 Reasons Cannabis Stocks May Be Headed Lower
Also on Monday, rapper and businessman Shawn "Jay-Z" Carter will be performing a round of business wire interviews related to his cannabis SPAC TPCO Holding Corp. GRAMF. In January, Jay-Z’s Roc Nation finalized what is currently the largest cannabis SPAC deal ever, but the stock has underperformed since the deal was finalized.
Tuesday: Privately held Canndoc, the largest cannabis company in Israel, is holding a two-hour investor day event starting Tuesday at 10 a.m. ET. Canndoc is in the process of going public via a merger with SPAC Subversive Real Estate Acquisition Reit Units SBVRF.
Thursday: On Thursday and Friday, Benzinga will be holding its virtual Cannabis Capital Conference. Key speakers at this year’s event include Canopy Growth Corp. CGC President & Chief Product Officer Rade Kovacevic, Green Thumb Industries Chief Strategy Officer Jennifer Dooley, Charlotte's Web Holdings Inc. CWBHF CEO Deanie Elsner, Trulieve Cannabis Corp. TCNNF CEO Kim Dickens and dozens of other leading cannabis entrepreneurs, executives and investors.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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The Benzinga Cannabis Capital Conference is coming to Florida
The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.
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