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 October 5th – 11th 2020.
Without further ado, let’s get started.
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Arizona’s Medical Marijuana Market is Booming and is Projected to Generate 2020 Sales of up to $915 Million
Red White & Bloom (OTCQX:RWBYF) announced that Platinum Vape (PV) struck a deal with a third-party licensed multi-state operator (MSO) that will see PV launch its products in Arizona later this quarter. The Grand Canyon State market could explode in size if voters approve recreational Cannabis at the upcoming November 2020 election.
Treatments Using Psychedelics Have Gained Momentum Over the Last Year, as More Companies Are Courting Investor Interest
One of those companies, Compass Pathways (NASDAQ:CMPS), made headlines across mainstream media recently as the first Psychedelic medicine company to be listed on a major U.S. stock exchange, the NASDAQ.
The Pandemic May Have Put Several Industries at a Standstill, But Cannabis is Still Going Strong
While some Marijuana Stocks have struggled during the shutdown and recovery, others — including one American company, Green Thumb (OTCQX:GTBIF), and two Canadian licensed producers (LPs), Aphria (NYSE:APHA), and Canopy Growth (NYSE:CGC) — have not only survived the crisis but also shown their likelihood to survive and thrive once everything gets back to normal.
Dr. McIntyre Was Appointed to the Board of Directors of Champignon on July 22, 2020 and Assumed the Role of CEO on May 11, 2020
Dr. Roger McIntyre has been elected Chairman of the Board of Directors of Champignon Brands (OTCQB:SHRMF). A foremost international expert in depression and suicide, Dr. McIntyre is a Professor of Psychiatry and Pharmacology at the University of Toronto, heads the Mood Disorders Unit at the University Health Network in Toronto and has appointments among scientific and clinical organizations across the US and Asia.
These Psychedelic Stocks Show the Most Promise as the Industry Gains Greater Acceptance
Over the past decade, much research has come out supporting Psychedelic-inspired medicines in treating conditions including addiction, depression, and ADHD. Hence, the “shroom boom” is here and is likely to propel psychedelic stocks as an attractive investment option. Three of the most promising Psychedelic Stocks include: MindMed (OTCQB:MMEDF), Revive Therapeutics (OTCPK: RVVTF) and Champignon Brands (OTCQB:SHRMF).
Stocks Across the Cannabis Sector Moved Higher, and the Best-Known Cannabis Producers Got Especially Nice Gains
Many Cannabis Stocks have struggled amid the coronavirus pandemic as they try to adapt to a much different operating environment. Aurora Cannabis, for instance, is still spending money on expenses at such a rapid pace that analysts following the stock worry that it might have little chance at profitability within the next three years. Some Pot Stocks, however, have done well. Innovative Industrial Properties (NYSE:IIPR), for instance, has seen its cannabis-related real estate business thrive, and shares have moved higher even as most cannabis cultivation companies sagged. Even among U.S. multi-state operators (MSOs), there are some better-run companies. Trulieve (OTCQX:TCNNF) has produced amazing share-price gains, leaving many of its peers in the dust.
Each Unit Consists of One Subordinate Voting Share and One-Half of One Subordinate Voting Share Purchase Warrant of the Company
MindMed (OTCQB:MMEDF) announced that it has entered into an agreement with Canaccord Genuity to raise over $25 million via a bought deal. Pursuant to the filing of a short form prospectus, an aggregate of 23,810,000 units of the company priced $1.05 per unit for aggregate gross proceeds of $25,000,500.
The Shipment Was Shipped From the Aphria One Facility to its Wholly Owned CC Pharma GmbH Subsidiary in Germany
The exports to Germany have finally begun for Aphria (NYSE:APHA). After touting the benefits of exporting to the region for a number of years, the company has finally completed its first EU-GMP shipment of dried flower.
Common Shares of Field Trip Health Began Trading on the CSE Under the Symbol FTRP
The Psychedelic company, which has operations in the U.S. and Jamaica, went public through a reverse take-over with Canadian oil and gas explorer Newton Energy Corp.
RWB Went Public on the CSE in April of This Year Through a Reverse Takeover of Tidal Royalty, with the Company Having Since Then Struck a Number of Deals
PI Financial’s Jason Zandberg on Wednesday launched coverage of U.S. Cannabis company Red White & Bloom (OTCQX:RWBYF) with a “Buy” rating and C$2.50 target, saying that RWB is set to be a powerhouse in Michigan’s hot Marijuana market.
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