Cannabis Countdown: Top 10 Marijuana And Psychedelics Industry News Stories Of The Week
Welcome to the Cannabis Countdown. In This Week’s Edition, We Recap and Countdown the Top 10 Marijuana and Psychedelics Industry News Stories for the Week of May 18th – 24th, 2020.
Without further ado, let’s get started.
* Yahoo Finance readers, please click here to view full article.
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.
The governor of New York said on Friday that while the legislature hasn’t been able to pass a marijuana legalization bill so far during this legislative session, he feels the issue will end up getting over the finish line sooner or later.
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).
The SAFE Banking Act, which was approved last year as a standalone bill, has been passed by the House once again, this time as part of the new sweeping Coronavirus relief package. Can the democrats garner enough Republican support in the Senate to finally make Cannabis Banking reform a reality in the United States?
A team of Canadian scientists believes it has found strong strains of cannabis that could help prevent or treat coronavirus infections, according to interviews and a study.
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.
With many Psychedelics like LSD and psilocybin showing promise for treating a range of mental and health conditions, including obsessive-compulsive disorder, PTSD, opioid addiction, alcoholism, eating disorders, depression, anxiety, smoking, and perhaps even obesity, the ban could soon be lifted.
Retail sales of regulated cannabis in Canada soared in March, growing 19% on a monthly basis to a record 181 million Canadian dollars.
It might sound like Have a Good Trip is just a random collection of celebrity psychedelic stories, but Cary is too skilled a professional for that. He sifted through more than 70 interviews, looking for recurring themes and potential through lines to connect the various segments and set up new ideas, whittling it all down to just 10 or 15 interviews. “The good side of having 11 years is that we could try different things, see if they worked, what was entertaining, what kept you interested,” he said.
Have a Good Trip: Adventures in Psychedelics is now streaming on Netflix.
The lead sponsor of a Marijuana Banking reform bill that was inserted into a House-passed Coronavirus relief package last week said on Thursday that he thinks there’s a 50-50 chance the Republican-controlled Senate will go along with the provision’s inclusion.
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.