Welcome to the Cannabis Countdown. In this week’s rendition, we’ll recap and countdown the top 10 Marijuana and Psychedelic Stock News stories for the week of March 30th – April 5th, 2020.
Without further ado, let’s get started.
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10. COVID-19 Forces Analysts to Reassess, 8 Pot Stocks with Recent Ratings and Price Target Updates
The COVID-19 Pandemic Has Changed the Game for Nearly Every Cannabis Company
In response to the Coronavirus, many analysts have updated their research on individual Pot Stocks to factor in the virus’ impact. Here’s a recap of the recent analyst activity including updated ratings and price targets.
READ FULL ANALYSTS UPDATES ARTICLE
9. Aurora Cannabis is a “Piece of Crap”, This Fund Manager Says
Acker appeared (from home) on BNN Bloomberg’s “Market Call” program recently and fielded a call on onetime market darling Aurora Cannabis ACB. His answer to whether or not the beaten-down stock was a buy was a resounding no.
READ FULL AURORA CANNABIS ARTICLE
8. MindMed Acquires Exclusive License to Eight Clinical Trials of LSD
MindMed Partners with World-Leading Psychedelic Research Laboratory at University Hospital Basel
The multi-year deal gives MindMed MMEDF access to largest collection of clinical trials & knowhow for LSD psychedelic research including a Phase 2 clinical trial of LSD for the treatment of anxiety.
7. NYSE Aims to Boot CannTrust After Concluding Cannabis Producer ‘No Longer Suitable for Listing’
The New York Stock Exchange’s (NYSE) regulatory enforcement arm has initiated the delisting process for CannTrust Holdings CTST after concluding the Canadian licensed producer (LP) “is no longer suitable for listing.”
6. Pot Stocks Plunge After Another Round of Disappointing Earnings
Hexo Drops Over 20% After Large Write-Downs, Medipharm Notes Oversupply of Bulk Cannabis Hurt Prices
HEXO Corp. HEXO led Cannabis Stocks down this week after the company reported Earnings that were hit by huge write-downs. MediPharm Labs MEDIF fell as well after the company reported net income of $1.9 million versus a net loss of $3.5 million a year ago. Cronos Group CRON also reported earnings this week.
READ FULL CANNABIS EARNINGS ARTICLE
5. Cronos Group Will Emerge from this Crisis, Raymond James Says
Raymond James analyst Rahul Sarugaser Reviewed Q4 Earnings from Canadian LP Cronos Group
In the analyst’s update to clients on Cronos Group CRON, Sarugaser said the ho-hum earnings coupled with a hitch in the company’s U.S. business are enough to trigger a target reduction, but that the stock is still looking attractive at these prices.
READ FULL CRONOS GROUP ARTICLE
4. Champignon Brands Bolsters Special Advisory Committee + SHRM Technical Breakout Chart Update
Champignon Brands Appoints Jay Kheita to the Company’s Special Advisory Committee
Champignon Brands SHRMF announced that it appointed another essential member to its Special Advisory Committee. Mr. Kheita is a founder of AltMed Capital Corp, a leading Canadian Psychedelic medicine clinic operator. Since last week’s technical breakout alert, shares of SHRM have surged as much as 77%.
READ FULL CHAMPIGNON BRANDS ARTICLE
Venom Extracts brings with it 2019 EBITDA of $2.5 million on revenue of $16.4 million, putting Hollister Biosciences HSTRF on the fast track to becoming a cannabis industry leader in 2020. In addition to becoming a leader in the cannabis sector, Hollister is diversifying into the highly promising world of Psychedelics.
2. FDA Grants GW Pharma Priority Review for Cannabidiol Drug in Seizure Condition
A drug from GW Pharmaceuticals GWPH targeting a cause of genetic epilepsy has received Priority Review status from the U.S. Food and Drug Administration.
Early cannabis investors and business minds are positioning themselves in the world of Psychedelic Medicine as the flow of smart money hits the market. Canopy Growth CGC founder Bruce Linton and Billionaire “Mr. Wonderful” Kevin O’Leary from Shark Tank, are going all-in on what they think is a much bigger opportunity than the cannabis boom.
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