Cannabis Countdown: Top 10 Marijuana Stock News Stories Of The Week
Welcome to the Cannabis Countdown. In this week’s rendition, we’ll recap and countdown the top 10 marijuana stock news stories for the week of December 30th, 2019 – January 5th, 2020.
Without further ado, let’s get started.
Jim Cramer says this Pot Stock is being unfairly dragged down by Cannabis ETFs creating a “remarkable buying opportunity” for long-term investors. We also conducted a technical review of the stock’s Inverse Head and Shoulders chart pattern. A sharp reversal off the bottom could be imminent.
Horizons ETFs Management (Canada) announced that it has completed its final quarterly rebalance of the company’s cannabis-focused ETFs in 2019. Here are the full lists of additions and deletions for Horizons’ HMMJ, HMJR and HMUS Cannabis ETFs.
The extension gives TransCanna (CSE:TCAN) (OTC:TCNAF) (FRA: TH8) increased financial flexibility as the loan would have been due this April. TCAN stock continues to outperform the cannabis sector gaining over 188% from its December low.
Curaleaf Holdings (CSE:CURA) (OTCQX:CRLBF) has finally completed its acquisition of Acres Cannabis of Nevada. The transaction consisted of two stages, with the firm previously closing the acquisition of the firm’s cultivation and processing assets back in October 2019. As of January 1, Curaleaf has also closed on the acquisition of the operator’s flagship Nevada dispensaries.
Greg Taylor, chief investment officer at Purpose Investments, thinks that while many of Canada’s pot companies will fold as the industry goes through a major downsizing in 2020, Canopy Growth’s (TSX:WEED) (NYSE:CGC) (FRA: 11L1) global exposure could be a difference-maker.
Aurora Cannabis (TSX:ACB) (NYSE:ACB) (FRA: 21P) is looking to offload some of its greenhouse properties. The cash strapped cannabis giant has listed a former Medreleaf greenhouse facility located in Exeter, Ontario for sale for a dollar under $17 million.
It shouldn’t take very long for things to get interesting for Marijuana Stocks in 2020. Investors should especially keep their eyes on 3 Pot Stocks in January: Aphria (TSX:APHA) (NYSE:APHA) (FRA: 10E), Canopy Growth (TSX:WEED) (NYSE:CGC) (FRA: 11L1), and Cresco Labs (CSE:CL) (OTCQX:CRLBF) (FRA: 6CQ).
Beacon Securities analyst Russell Stanley released research reports on both U.S. multi-state operators (MSO) Cresco Labs (CSE:CL) (OTCQX:CRLBF) (FRA: 6CQ) and Green Thumb (CSE:GTII) (OTCQX:GTBIF) (FRA: R9U2). Stanley says these 2 Illinois Pot Stocks have a potential upside of 188% and 102% respectively.
As we turn the page on 2019 and enter a new decade, let’s take a walk down memory lane and review the top 5 cannabis stock gainers of the past 10 years. Here are the top Cannabis Stocks of the decade.
Illinois saw huge demand for recreational cannabis in what may go down as the best opening day in U.S. legalization history. At the center of the action was 2 top U.S. MSOs with one having the honour of completing the very first sale in the entire state of Illinois.
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