Cannabis Countdown: Top 10 Marijuana And Psychedelic Stock News Stories Of The Week
Welcome to the Cannabis Countdown. In This Week’s Edition, We Recap and Countdown the Top 10 Marijuana and Psychedelic Stock News Stories for the Week of May 18th – 24th, 2020.
Without further ado, let’s get started.
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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 (NYSE: 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.
Backed by popular demand, we have fully updated this article, which we originally published on 03/28/2020 to reflect the many significant developments that have occurred in the Psychedelics space over the past two months. Within a matter of hours, after the original version was released, it quickly went viral becoming our most viewed article off all-time within two days. Because the article is still experiencing very high traffic, we felt it was necessary to fully update it so our readers could have access to the most up to date information possible. In our opinion, the newly updated version is even better than the original so we highly suggest giving it a read if you’re interested in learning about Psychedelic Medicine and the top investment opportunities in the sector.
Cannabis Stocks are back in vogue following a lengthy bear market, which began at the same time Canada legalized adult-use marijuana in October 2018. With many of the losers of the ‘Canadian Cannabis Bubble’ now gone or close to it, the field has been narrowed down creating a more attractive environment for the winners to flourish and their share prices to continue rising. Check out our full list of winners and losers from the Cannabis Boom 1.0. This list of Pot Stocks will help investors focus their attention on the companies with the highest chance to succeed during the new Cannabis Boom 2.0, which is taking place in the world’s largest marijuana market.
As the Psychedelics industry continues to blossom, the current circumstances have created a situation for investors that has enormous potential upside. As more companies attempt to enter the burgeoning space, investors would be wise to focus their investment dollars on the proven sector leaders such as Champignon Brands (OTCQB: SHRMF) and MindMed (OTCQB: MMEDF).
Many marijuana companies have little by way of cash on hand to fund their operations, and many of them will have to take on additional debt — or find ways to reduce their expenses — to survive. Fortunately, some pot companies have a boatload of cash on their balance sheets. Let’s look at two of these companies: Canopy Growth (NYSE: CGC) and Cronos Group (NASDAQ: CRON).
As we learn more about how useful such treatments can be, it’s opening a wide range of opportunities for the proven industry leaders like Champignon Brands (OTCQB: SHRMF) and Mind medicine MindMed (OTC: MMEDF). We’re now seeing a wide range of other companies like The Yield Growth Corp. (CSE:BOSS), NewLeaf Brands (CSE:NLB), Pharmadrug Inc. (CSE:BUZZ), Numinus Wellness Inc. (TSXV:NUMI) enter the potential lucrative psychedelics space looking for a piece of the action.
That’s according to analyst Rahul Sarugaser from Raymond James who reviewed the current state of affairs in a recent update to clients where he reiterated his “Market Perform 3” rating for Cronos Group (NASDAQ: CRON). Aurora Cannabis (NYSE: ACB) made a splash this week with the purchase of U.S. CBD company Reliva.
Champignon Brands (CSE:SHRM) announced they have sponsored TheraPsil, a BC-based non-profit coalition of healthcare professionals, policy-makers and community leaders seeking legal access to psilocybin for British Columbians with a palliative diagnosis and psychological distress
Trulieve (OTCQX: TCNNF) has cut the ribbon on its latest store, marking its 50th retail location. Located at 812 West International Speedway Boulevard, Trulieve’s newest location is one of the company’s largest. It spans about 6,000 square feet, and includes about 1,500 square feet of showroom space and 14 selling points.
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