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 25th – 31st, 2020.
Without further ado, let’s get started.
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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.
Enter GrowGeneration (NASDAQ:GRWG) and Scotts Miracle-Gro (NYSE:SMG), the 2 biggest ancillary Cannabis Stocks 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.
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.
The latest development comes as part of MindMed’s (OTC:MMEDF) exclusive license and collaboration agreement with the University Hospital Basel’s Liechti Lab. The company will now gain access to a compelling portfolio of clinical trials and studies gathered by the Liechti Lab over a 10 year period on MDMA.
Hollister Biosciences (OTC:HSTRF) announced the official California launch of its highly-anticipated Tommy Chong’s Cannabis 1:1 Full-Spectrum Elixir. The company first reported its deal with Tommy Chong earlier this year, and with the product now ready to hit the market, Hollister has once again delivered for its shareholders.
Canopy Growth (NYSE:CGC) reported a fourth-quarter net loss of CDN $1.3 billion ($946.4 million). The Smiths Falls, Ontario-based company reported net revenue of CDN $399 million for the quarter, up 76% year-over-year and down 13% quarter-over-quarter.
Analyst Pablo Zuanic said that Canada’s March sales data was significantly ahead of Cantor’s estimate, partly due to pantry loading, but also on account of continued Cannabis 2.0 rollouts. Zuanic updated his ratings and price targets on Aurora Cannabis (NYSE:ACB), Aphria (NYSE:APHA), Organigram (NASDAQ:OGI), Canopy Growth (NYSE:CGC), Tilray (NASDAQ:TLRY) and HEXO (NYSE:HEXO).
Champignon Brands (OTCQB:SHRMF) announced that certain shareholders of the firm have agreed to a voluntary lockup of their holdings in the company, which is related to a prior issuance conducted by the firm.
Today, psychedelics — like LSD, MDMA and “Magic Mushrooms” — are on the cusp of a Shroom Boom, wherein psychedelic-inspired treatments will go from taboo to the mainstream. Against that backdrop, psychedelic stocks will roar higher. With that in mind, some of the best Psychedelic Stocks to buy for potentially huge gains are:
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