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Cannabis Countdown: Top 10 Marijuana Stock News Stories Of The Week

March 9, 2020 9:29 am
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Cannabis Countdown: Top 10 Marijuana Stock News Stories Of The Week

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 March 2nd – 8th, 2020.

Without further ado, let’s get started.

*Yahoo Finance readers, please click here to view full article.

10. The Rise of Psychedelic Stocks: 2 New IPOs Go Head-to-Head, Here’s the Surprising Winner

The Psychedelics Industry is Beginning to Heat Up, Giving Cannabis Investors an Eerie Sense of Déja Vu

Psychedelic Stocks are in high demand as Champignon Brands (CSE:SHRM) and MindMed (NEO: MMED) IPO in the same week. Let’s compare SHRM and MMED’s first week of trading to see how the two stacked up and which stock came out on top.

READ FULL PSYCHEDELIC STOCKS IPO ARTICLE

9. TCI Market Watch: Markets Soar as DOW Posts Second Best Point Gain Ever, Pot Stocks Rebound Sharply

Dow Jones Soars 1,173 Points as Joe Biden’s Super Tuesday Win Sparks Major Market Rally

As the stock market soared, North American Pot Stocks also rebounded sharply with some posting double-digit gains on the day. Here are the top 15 gainers of the trading session.

READ FULL TCI MARKET WATCH ARTICLE

8. Marijuana Stock Tilray Sinks on Weak Earnings Report

Here’s What Wall Street Is Saying About TLRY’s Disappointing Q4 Results

Tilray Inc (NASDAQ:TLRY) reported a net loss of $219.1 million in the quarter, or $2.14 a share. The net loss included a $112 million impairment charge related to assets, as well as a $68 million inventory write-down. Wall Street had been anticipating a loss of 40 cents a share.

READ FULL TILRAY EARNINGS ARTICLE

7. MindMed Becomes First Psychedelics Pharma Company to Go Public Following Historic IPO

Now Listed on the NEO, MMED Stock Was Very Active on its First Day, Trading Over 14 Million Shares

Prior to going public, Psychedelics firm MindMed (NEO: MMED) (OTC:MMEDF) (FRA: BGHM) raised $24 million in a pre-IPO round which included Kevin O’Leary and the founder and former CEO of Canopy Growth (TSX:WEED) (NYSE:CGC) (FRA: 11L1), Bruce Linton.

READ FULL MINDMED IPO ARTICLE

6. Here’s the Real Reason Why the U.S. Federal Government Hasn’t Legalized Cannabis

One Harvard Economist Says the U.S. Government Loses up to $20B a Year By Keeping Cannabis Illegal

Some experts believe that the U.S. Federal Government makes up for prohibition costs and lost tax revenue in other ways, such as by not allowing cannabis companies to write-off regular business expenses.

READ FULL FEDS CANNABIS ARTICLE

5. Tilray Slapped with New Zero Dollar Price Target

Analysts Gordon Johnson Calls the Company’s Guidance ‘Aspirational’

GLJ Research is zeroing out its Tilray Inc (NASDAQ:TLRY) price target in the wake of the cannabis company’s fourth-quarter earnings. Johnson maintained a Sell rating and lowered the price target for Tilray from $5 to $0, suggesting the equity is essentially worthless.

READ FULL TILRAY TARGET ARTICLE

4. Beacon Securities Slashes Price Target on Acreage Holdings

Q4 Results Fell Short for Acreage Holdings According to Beacon Securities Analyst Russell Stanley

In an update to clients, Stanley kept his “Buy” rating on shares of Acreage Holdings (CSE:ACRG) (OTCQX:ACRGF) (FSE: 0VZ), but dropped his price target from $17.00 to $5.25 per share. Stanley said the quarter came in under his estimates.

READ FULL ACREAGE HOLDINGS ARTICLE

3. Curaleaf Enters Colorado by Acquiring BlueKudu

BlueKudu is a Producer of Premium Edible Cannabis Products

Curaleaf Holdings (CSE:CURA) (OTCQX:CURLF) will acquire BlueKudu, a Colorado-based producer of premium cannabis chocolates and gummies. Founded in 2011, BlueKudu is one of Colorado’s oldest and most experienced edible manufacturers.

READ FULL CURALEAF ARTICLE

2. GW Pharmaceuticals is a World Leader, AltaCorp Capital Says

GW Pharma Owns a Proprietary Cannabinoid Platform with Epidiolex as its Lead Product

As the world’s first company to commercialize a plant-based cannabinoid-derived pharmaceutical, GW Pharmaceuticals (NASDAQ:GWPH) stands out as a Top Pick for 2020, according to David M. Kideckel, an analyst for AltaCorp Capital, who stayed bullish on the name in an update to clients.

READ FULL GW PHARMA ARTICLE

1. Canopy Growth Shuts Down 2 B.C. Facilities, Leaving Hundreds Out of Work

Hundreds of Canopy Employees Showed Up for Work Only to Find Themselves Out of a Job

Canopy Growth (TSX:WEED) (NYSE:CGC) (FRA: 11L1) has closed large greenhouses in Delta and Aldergrove, B.C. The top Canadian licensed producer (LP) says the closures have resulted in the elimination of approximately 500 positions. In addition to the closures in B.C., the company says it no longer plans to open a third greenhouse in Niagara-on-the-Lake, Ontario.

READ FULL CANOPY BC TWEED ARTICLE

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