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 19th – 25th, 2020.
Without further ado, let’s get started.
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It Seems That Recent Twitter Comments From the Pot Stocks Community Might Be Getting to Dan Bilzerian, if Only Slightly
Ignite International Brands (OTCQX:BILZF) issued a news release headlined as “Chairman of the Board Intends To Acquire $25 Million of IGNITE Shares.” While it might sound exciting at first, essentially Dan Bilzerian will be purchasing certain outstanding debt and settling it with equity, while also subscribing to a $5.0 million private placement.
The Closing of the RTO Will Take Place By November 30, With More Details to Be Released Soon
E-commerce and events company Delic Corp., which is focused on the Psychedelics industry, recently announced it would be going public on the Canadian Securities Exchange (CSE) via a reverse takeover (RTO) of Molystar Resources Inc.
Recurring Profitability is Expected Next Year for This Group of Pot Stocks
For the lion’s share of U.S. Multi-State Operators (MSOs), recurring profitability is expected in 2021. According to Wall Street‘s consensus estimates, the following five U.S. Marijuana Stocks are forecast to deliver a full-year 2021 profit:
- Green Thumb Industries (OTCQX:GTBIF)
- Curaleaf (OTCQX:CURLF)
- Cresco Labs (OTCQX:CRLBF)
- Acreage Holdings (OTCQX:ACRGF)
- Planet 13 Holdings Inc. (OTCQB:PLNHF)
Numinus Bioscience’s Developments Include Harvesting its First Flush of Psilocybe Mushrooms at its Health Canada Licensed Facility
Numinus Wellness (OTC:LKYSD), a company creating an ecosystem of health solutions centered on developing and supporting the safe, evidence-based, accessible use of Psychedelic-assisted psychotherapies, has harvested the first legal flush of Psilocybe mushrooms in Canada by a public company under its Health Canada-issued Controlled Drugs and Substances Dealer’s Licence.
Stifel GMP Released Their Top Picks for the Fourth Quarter of 2020, Headlining the Note With “Finding Opportunity for Fundamental Investors”
Analyst Andrew Partheniou reiterated his buy rating and C$42.50 price target for Green Thumb Industries (OTCQX:GTBIF) within the note. Partheniou comments on the rating saying, “We view GTII as the best-in-class operator in the US cannabis industry.”
Expanding Research and Development of Naturally-Derived Psilocybin for Future FDA IND-Enabling and Clinical Studies
Revive Therapeutics (OTCPK: RVVTF) announced it has signed a supply agreement with Havn Life Sciences (CSE:HAVN) to source naturally-derived Psychedelic compounds, such as Psilocybin, for use in future investigational new drug (IND) enabling studies and clinical trials under the FDA guidelines.
These Cannabis Companies Are Beginning to Separate Themselves From the Pack
As we barrel headlong into Earnings season, investors should keep their eyes on the following trio of Marijuana Stocks, as they look to have the best chance of absolutely crushing Wall Street‘s earnings per share (EPS) expectations for the recently completed quarter.
The Chicago Location is the Third Field Trip Center to Open in the U.S. This Year, Providing an Opportunity to Continue Normalizing the Use of Psychedelics in Healing Across the Country
Field Trip Health (OTC:FTRPF), the global leader in the development and delivery of technology-enabled Psychedelic therapies, announced today the opening of their Chicago center. Located at 325 West Huron Street, Suite 603, the Chicago location is the fourth Field Trip Health center to open this year, following Toronto, New York and Los Angeles.
While the Market for Cannabis Stocks Has Become More Rational Over the Years, it is Far From Efficient
While American Multi-State Operators (MSOs) are clearly more leveraged to the 2020 Election, we aren’t surprised that there has been a spillover into the Canadian Licensed Producers (LPs). One reason is truly comical…
Much Like Cannabis, Psychedelics Are Quickly Going Mainstream – and Fast, Most Notably Psilocybin
As the story continues to explode, some of the top Psychedelic Stocks to watch include Revive Therapeutics (OTCPK: RVVTF), MindMed (OTCQB:MMEDF), Compass Pathways (NASDAQ:CMPS), Numinus Wellness (OTC:LKYSD), and Johnson & Johnson (NYSE:JNJ).
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