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 September 28th – October 4th, 2020.
Without further ado, let’s get started.
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Recently, There Has Been a Renewed Rush By American Cannabis Operators to Enter and Dominate New Markets
Canaccord Analyst Tania Gonsalves Reiterated Her 12-Month Price Target of $1.75 and Speculative Buy Recommendation on the Company
Canaccord released a flash update for MindMed (OTCQB: MMEDF) with highlights from the recent two-day virtual non-deal roadshow that was hosted by Canaccord Genuity. The virtual roadshow included JR Rahn and Stephen Hurst, co-CEOs of MMED, and Dr. Miri Halperin Wernli, who heads up MindMed Discovery.
As RWB Continues to Execute its Business Plan, the New Additions Will Help Accelerate the Company’s Expansion Strategy
Red White & Bloom (OTCQX: RWBYF) announced Friday several new additions to its Mid-American Growers (MAG) team. MAG is a wholly-owned subsidiary of RWB. The company also reported that two of its executives will now have expanded roles with the team.
The Psychedelics Renaissance of 2020 is Seemingly Happening at a Perfect Time During This Year of Many Firsts
The U.S. FDA‘s approval of Spravato, an Esketamine nasal spray developed by Johnson & Johnson (NYSE: JNJ) owned Janssen Pharmaceuticals in March 2019, was a landmark move that propelled Psychedelics into the consciousness of anyone considering a more effective treatment for treatment-resistant depression. Researchers at the Liechti Lab at University Hospital in Basel, Switzerland, are working with MindMed (OTCQB: MMEDF), to address concerns about the downside of the Psychedelic experience.
Mindleap is Designed to Increase Access to Mental Health Services and Provide Analytics into Mental Health to Improve Outcomes Starting with Goal-Setting, Mood, Emotion, and Habit Tracking
Mydecine Innovations (OTCQX: MYCOF) announced that its subsidiary Mindleap Health, a digital telehealth mobile application for mental coaching and wellbeing, has officially launched and is now available for download.
While the First Year and a Half Post-Legalization in Canada Was Plagued By Many Issues Including a Slow Retail Rollout and Overzealous M&A Spending, a Turnaround in the Canadian Cannabis Industry is Currently Underway
Leading the charge as the sector’s recovery continues are the nation’s largest cannabis Licensed Producers (LPs) Canopy Growth (NYSE: CGC), Aphria (NYSE: APHA), Cronos Group (NASDAQ: CRON) and Aurora Cannabis (NYSE: ACB). With each company under new leadership, we took a look at the four LPs’ most recent quarterly Earnings report to get a better idea of the progress made this year.
Upon Review of the Assets and Business Operations of Both Companies, an Article is Warranted to Foster a Wider Discussion About Which Company is the Better Relative Value
With Compass Pathways’ (NASDAQ: CMPS) generally soaring since its September 18 IPO listing on NASDAQ, the nascent Canadian Psychedelics sector has received a tremendous shot in the arm. None more so than MindMed (OTCQB: MMEDF), which is the only major Psychedelic Stock to mimic Compass’ move both on a percentage basis (90.90% vs. 117.64%) and breadth. But is this strong price action correlation justified?
Recently, Cantor Fitzgerald Released its Monthly Review of Hifyre Data for the Four Weeks Ending September 19th
In the summary, analyst Pablo Zaunic reiterates Aphria (NYSE: APHA) as their top pick and says Aphria is making a push into the value category. In the note, Zuanic reiterates his ratings and price targets on the following companies: Cronos Group (NASDAQ: CRON), Aphria (NYSE: APHA), Tilray (NASDAQ: TLRY), Aurora Cannabis (NYSE: ACB), Organigram (NASDAQ: OGI) and HEXO (NYSE: HEXO).
Citron Research Editor and Notorious Short-Seller Andrew Left Discussed One of His Latest Stock Ideas During an Appearance on Benzinga’s PreMarket Prep Show
Compass Pathways’ (NASDAQ: CMPS) shares may have experienced a pullback last week, but Citron Research Editor Andrew Left has a bullish thesis for the Psychedelic Stock. “They are the first ones using Psilocybin, what’s in the Magic Mushrooms, for FDA approval for mental health purposes. They just went public. It’s one of those big concept stocks,” he said.
After Posting an All-Time Closing Low on March 18, 2020, the Index Has Now Rebounded By 148.4%
The four best-performing U.S. Cannabis Stocks included Vireo Health (OTCQX: VREOF), Jushi Holdings (OTCQB: JUSHF), Ayr Strategies (OTCQX: AYRSF) and CV Sciences (OTCQB: CVSI). The four worst-performing Pot Stocks were Charlottes Web (OTCQX: CWBHF), 4Front Ventures (OTCQX: FFNTF), cbdMD (NYSE: YCBD) and Trulieve (OTCQX: TCNNF).
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