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 June 1st – 7th, 2020.
Without further ado, let’s get started.
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Red White & Bloom (OTC:TDRYD) IPO’d on Friday, and with over $6.5 million in trading volume, it’s clear, investors are taking full advantage of RWB’s temporarily cheap valuation compared to its multi-state operator (MSO) peers.
How will individual firms generate meaningful revenue? As we know, the business of biotech and pharma can be expensive, with potential revenues sometimes years away. For serious investors, here’s why Psychedelic Stocks that own clinics may hold a big advantage over the field.
FSD Pharma (NASDAQ:HUGE) said the FDA has approved its IND application for studying FSD-201 for the treatment of SARS-CoV-2, the virus that causes COVID-19. FSD-201, according to the company, is ultra micronized palmitoylethanolamide, or PEA.
MindMed (OTC:MMEDF) has officially launched Project Lucy, a commercial drug development program for the treatment of anxiety disorders. The company intends to initiate a Phase 2b human efficacy trial that will focus on experiential doses of LSD, administered by a therapist.
The path to curing addiction through Psychedelics is becoming more clear and is gaining momentum through more focused treatment. MindMed (OTC:MMEDF) is working with ibogaine to help curb opioid addiction with its 18-MC study and Psychedelic clinic operator AltMed, which was acquired by Champignon Brands (OTCQB:SHRMF), will sponsor its network of clinicians and thought leaders throughout R&D campaigns and clinical trials to target addiction as well as several other indications.
To prove just how strong the emerging U.S. marijuana industry is, these 4 leading multi-state operators (MSOs) recently reported exceptional Q1 Earnings, despite having to operate during the COVID-19 pandemic. Here’s a recap of the financial results from Trulieve (OTCQX:TCNNF), Curaleaf (OTCQX:CURLF), Green Thumb (OTCQX:GTBIF) and Cresco Labs (OTCQX:CRLBF).
Cannabis investors are rejoicing after Red White & Bloom Brands (OTC:TDRYD) announced that the company’s shares officially began trading on the Canadian Securities Exchange (CSE) at the market open on Friday, June 5, 2020.
Top business and medical minds in the Psychedelics space, including MindMed (OTC:MMEDF) investors Bruce Linton and Kevin O’Leary as well as Champignon Brands (OTCQB:SHRMF) CEO Dr. Roger McIntyre agree, a growing avenue of opportunity for entrepreneurs in psychedelic medicine is developing.
Red White & Bloom Brands (OTC:TDRYD) said Friday it has inked a licensing rights deal with High Times. Under the agreement, RWB is authorized for the branding of High Times medical and recreational dispensaries as well as CBD and THC products in Michigan, Illinois and Florida. RWB also obtained the rights from HT Retail Licensing LLC to use the “Culture” brand of hemp-derived CBD products.
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