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 February 10th – 16th, 2020.
Without further ado, let’s get started.
Move over Cannabis Stocks, Psychedelics could become the new go-to alternative investment in 2020. The growing trend has caught the attention of some very high profile investors in former Canopy Growth (TSX:WEED) (NYSE:CGC) (FRA: 11L1) CEO Bruce Linton, Shark Tank’s Kevin O’Leary and a few very large Silicon Valley tech investors.
Dan Bilzerian’s Ignite International Brands (CSE:BILZ) (OTCQX:BILZF) (FRA: 2L0) announced that it’s subsidiary IGNITE Beverages will be adding a second drink to its product line. Joining the previously announced IGNITE Alkaline PH9 Water will be the company’s new Ignite branded premium vodka.
There are a handful of Pot Stocks that are fully capable of outperforming in a challenging environment. Based on their existing growth trajectory and Wall Street‘s very fluid sales projections, 4 vertically integrated Multi-State Operators (MSO) in the U.S. are the likeliest to hit $1 billion in annual sales on a recurring basis by 2022, or possibly even sooner.
CannTrust Holdings (TSX:TRST) (NYSE:CTST) (FRA: C9S) announced it has appointed a new chief executive officer while providing an update on how the company plans to get its Health Canada licence to grow cannabis again.
Organigram Holdings’ (TSX:OGI) (NASDAQ:OGI) (FRA: 0OG) first line of Cannabis 2.0 edibles set to hit the market will be the company’s cannabis-infused chocolate truffles brand called Edison Bytes. They are round chocolate bites, filled with a creamy chocolate centre infused with THC and Organigram is selling the truffles in two sizes, a one-pack and a two-pack.
In an update to clients on Thursday, AltaCorp Capital analyst David Kideckel maintained his position that Aurora Cannabis (TSX:ACB) (NYSE:ACB) (FRA: 21P) is one of the better positioned Canadian licensed producers (LPs). Kideckel maintained his “Sector Perform” rating and $2.80 per share price target on shares of ACB stock.
Quite a few Marijuana Stocks could emerge as winners from the fastest-growing legal cannabis markets. These 5 U.S. Pot Stocks are at the top of the list. Trulieve Cannabis (CSE:TRUL) (OTCQX:TCNNF), Cresco Labs (CSE:CL) (OTCQX:CRLBF) (FRA: 6CQ), Green Thumb Industries (CSE:GTII) (OTCQX:GTBIF) (FRA: R9U2), Innovative Industrial Properties (NYSE:IIPR) and Scotts Miracle-Gro (NYSE:SMG) (FRA: SCQA).
Curaleaf Holdings (CSE:CURA) (OTCQX:CURLF) announced that the company’s acquisition of Grassroots has seen the required “HSR waiting period” lapse, meaning the company has essentially been given the green light by the Department of Justice to continue with the acquisition under antitrust laws. Once closed, the acquisition of Grassroots will make Curaleaf the largest cannabis company in the world.
TransCanna Holdings (CSE:TCAN) (OTC:TCNAF) (FRA: TH8) bucked the downtrend in late 2019 outperforming the broad cannabis sector. While the majority of Pot Stocks continued their downward trajectory, TransCanna started December trading at just $0.54 per share and from that point, TCAN stock soared 118% to finish 2019 at $1.18. TCAN continued to climb through the first week of January 2020 gaining over 270% since the start of December. Following a healthy pullback, TCAN stock is once again on the rise.
Canopy Growth (TSX:WEED) (NYSE:CGC) (FRA: 11L1) released Earnings for the third quarter of fiscal 2020. Canopy’s revenue beat and smaller than expected Q3 loss ignited Marijuana Stocks across the board. These 13 Pot Stocks finished the week posting double-digit gains.
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