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Cannabis Countdown: Top 10 Marijuana And Psychedelics Industry News Stories Of The Week

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 25th – 31st, 2020.

Without further ado, let’s get started.

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10. Psychedelics v. Cannabis: In Search of a Better Business Plan

While There Have Been Glimmers of an Upturn Recently in the Cannabis Industry, the Drama of the Business of Selling a Federally Illegal Cash Crop Continues

The cannabis business has followed a sort of “high risk, high reward” Silicon Valley, venture capital model. And it hasn’t really worked all that well. Enter Psychedelics, with the advantage of hindsight seeing what canna-businesses did wrong with their own plant-based wellness product that had a recreational side to it which tended to scare off serious investors.


9. Oregon on the Brink of Historic Drug Reform Vote, Which Could See Psilocybin Legalized

2 Oregon Drug Reform Campaigns Are Pushing Forward Despite the Many COVID-19 Related Challenges That Have Derailed Other National and Oregon-Based Initiatives

Both campaigns appear well on their way to qualifying for the November ballot after submitting more than enough signatures ahead of the deadline. The Yes on IP 34 campaign is attempting to legalize Psilocybin for therapeutic use, while Yes on IP 44 is aiming to decriminalize drug possession and expand support for substance abuse.


8. 2 Ancillary Marijuana Firms That Will Play an Integral Role in the Cannabis Boom 2.0

With the Cannabis Boom 2.0 in the U.S. Likely Underway, the Rapidly Growing Marijuana Industry Continues to Require an Ever-Increasing Amount of Supplies and Equipment to Fuel Operations

Enter GrowGeneration (NASDAQ: GRWG) and Scotts Miracle-Gro (NYSE: SMG) (FRA: SCQA), the 2 biggest ancillary cannabis names and the companies responsible for providing the vital supplies that help make the industry tick. Since ancillary firms don’t physically touch the cannabis plant, they are able to list on major U.S. exchanges like the NYSE and NASDAQ, thus making them great options for investors with lower risk tolerance.


7. Get Ready for Pharmaceutical-Grade Magic Mushroom Pills

Today There Are 2 Big-name Players Already Making Synthetic Psilocybin With the Goal of Eventually Treating People with Depression and Other Mental Health Issues

One is a for-profit company, Compass Pathways; another is a nonprofit, Usona Institute. Compass Pathways is a London-based company that received Breakthrough Therapy designation from the FDA for its synthetic Psilocybin therapy for treatment-resistant depression, meaning that its preliminary clinical evidence was so promising, the FDA will fast-track its review process.


6. Benzinga Cannabis Capital Conference Presents: Isiah Thomas, NBA Legend And CBD Investor

Listening to NBA Legend Isiah Thomas Discuss the Cannabis Industry is a Slamdunk for Both Aspiring and Established Pot Professionals

The former Detroit Pistons point guard, who was a 12-time NBA All-Star and hailed as one of the 50 greatest players in the league’s history, is taking part in the upcoming Virtual Benzinga Cannabis Capital Conference on June 1.


5. Benzinga Cannabis Capital Conference Presents: Vivien Azer, Star Marijuana Analyst

A Lot Has Changed Since 2014 When Colorado’s Legal Cannabis Market — Both Medical and Recreational — Officially Launched

Vivien Azer of financial services giant Cowen was the first senior Wall Street analyst to cover the emerging cannabis industry. Among Azer’s recent findings: Cannabis sales in the United States have continued to climb, despite the COVID-19 outbreak. Also, the pace in which states are legalizing has tracked exactly in line with Cowen’s expectations.


4. A Big Week For Psychedelics Company Numinus Wellness

The Public Company is a Parent to Numinus Bioscience, Which is Licensed by Health Canada to Test, Sell, Distribute, and Eventually Conduct Research on Psychedelic Substances

Last week, we saw Numinus Wellness (TSXV: NUMI) (OTC: LKYSD) (FRA: LR23) commence trading on the TSX Venture Exchange. The company focused on the use of Psychedelic therapies for the treatment of mental health issues, joins a small club of publicly-traded companies in the space, which also includes Bruce Linton and Kevin O’Leary-backed MindMed’s (NEO: MMED) (OTC: MMEDF) (FRA: BGHM), and Champignon Brands (CSE: SHRM) (OTCQB: SHRMF) (FRA: 496).


3. Why Some U.S. Marijuana MSOs Are Prospering During Tough Times

Several MSOs Are Struggling, Unloading Assets, Cutting Jobs and Costs as Well as Scrapping Expansion Plans Amid a Looming Recession and Shortage of Investor Funding

But other multi-state operators (MSOs) are doing well financially: Cresco Labs (CSE: CL) (OTCQX: CRLBF), Curaleaf (CSE: CURA) (OTCQX: CURLF), Green Thumb (CSE: GTII) (OTCQX: GTBIF) (FRA: R9U2) and Trulieve (CSE: TRUL) (OTCQX: TCNNF), among others. What makes a successful MSO these days versus the likes of Acreage Holdings (CSE: ACRG.U) (OTCQX: ACRGF) (FSE: 0VZ) and MedMen (CSE: MMEN) (OTCQX: MMNFF) (FRA: 0JS), which have scaled back by laying off workers and shuttering operations in a bid to slash costs? And what is required to survive and prosper in the future?


2. First-of-Its-Kind Study Hints at How Psilocybin Works in The Brain to Dissolve Ego

Those Who Experiment with Magic Mushrooms and LSD Often Describe a Dissolution of the self, Otherwise Known as Ego-Death, Ego-Loss, or Ego-Disintegration

Now, for the first time, researchers have looked directly into how taking Psilocybin affects glutamate activity in the brain. And the evidence suggests that our tripping experience, whether good or bad, might be linked to glutamate.


1. Cannabis Boom 2.0: Here’s Why ‘Some Pot Stocks’ Are Soaring Like We Haven’t Seen Since 2018

Pot Stocks Are Back in Vogue Following a Lengthy Bear Market, Which Began at the Same Time Canada Legalized Adult-Use Marijuana in October 2018

While the last 1.5 years have tested the nerve of many investors, it also exposed the weak companies and similar to the dot-com bubble, separated the winners from the losers. 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.


Photo by Rick Proctor on Unsplash


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