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 29th – July 5th, 2020.
Without further ado, let’s get started.
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The pandemic first hit the U.S. earlier this year. The cannabis industry was deemed as essential and legal sales nationwide soared. With a possible second wave of the virus underway, investors should look at companies such as Red White & Bloom (OTCQX:TDRYD), which controls a dominant 22% share of the Michigan market and compared to its multi-state operator (MSO) peers, is trading at an extremely attractive valuation.
Consider: In April, MindMed (OTCQB:MMEDF), working with the University Hospital Basel’s Laboratory, in Basel, Switzerland in a deal to support clinical trials and secure exclusive patent rights, discovered and filed a patent in the U.S. preserving all worldwide rights for a neutralizer technology that can shorten or even stop the hallucinogenic effects of LSD in a therapy session.
Raymond James recently upgraded Cronos Group (NASDAQ:CRON) to an Outperform 2 rating as well as almost doubling their price target to C$13.52 / U$10. The justification behind this was that they believe Cronos’ partnership with Ginkgo Bioworks currently adds $1.54 billion or US$4.10 a share in value.
Last week, Organigram (NASDAQ:OGI) announced it was making adjustments to the Trailer Park Buds brand after discussions with the regulator. Other Canadian licensed producers (LPs) with celebrity ties include Canopy Growth (NYSE:CGC) (Snoop Dogg’s Leafs by Snoop and Seth Rogen‘s Houseplant brand), Tilray (NASDAQ:TLRY) (Marley Natural-branded vape cartridges) and Supreme Cannabis (OTCQX:SPRWF) (Wiz Khalifa’s Khalifa Kush).
Today, I’ll look at two of the top Pot Stocks in the industry — Aphria (NYSE:APHA) and Canopy Growth (NYSE:CGC) — and assess which of these leading cannabis producers is the better stock to hold in your portfolio.
While all marijuana companies ramped up production to grab the opportunities of this new market, Canopy Growth (NYSE:CGC) and Organigram (NASDAQ:OGI) have focused on providing the most innovative products to consumers.
The idea of investing in Psychedelics has captured the attention of the market, but what’s next for this exciting new segment?
While all “next big thing” industries need time to mature (and cannabis is no different), the following three Marijuana Stocks are the names you’ll want to own for the second half of 2020: Green Thumb (OTCQX:GTBIF), Innovative Industrial Properties (NYSE:IIPR) and Scotts Miracle-Gro (NYSE:SMG).
Revive Therapeutics (OTCPK: RVVTF) announced it has submitted today its Investigational New Drug (“IND”) application to the U.S. Food and Drug Administration (FDA) for a Phase 3 confirmatory study for Bucillamine as a potential treatment in COVID-19.
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