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Cannabis Countdown: Top 10 Marijuana And Psychedelic Stock News Stories Of The Week

November 23, 2020 2:24 pm
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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 November 16th – 22nd, 2020.

Without further ado, let’s get started.

Yahoo Finance readers, please click here to view the full article.

10. Cannabis Earnings Roundup: Exceptional Growth Trend Continues for Top U.S. MSOs in Q3

Another Record-Breaking Cannabis Earnings Season is in the Books for the “Big 4” U.S. Multi-State Operators (MSOs)

Despite a global pandemic, American Cannabis Stocks are in the midst of a breakout year, with the nation’s largest cannabis operators leading the charge. Here is our Q3 2020 Earnings recap from the top 4 U.S. Multi-State Operators MSOs Trulieve Cannabis (OTCQX:TCNNF), Curaleaf Holdings (OTCQX:CURLF), Green Thumb Industries (OTCQX:GTBIF) and Cresco Labs (OTCQX:CRLBF).

READ FULL MSOS EARNINGS ARTICLE

9. As the Pandemic Rages On, This New Psychedelic Stock is Taking a Unique Approach to Treat Mental Health

The 2020 Elections Brought Another Huge Win for Drug Reform Advocates as Cannabis was Legalized in Several New States, Oregon and Washington D.C. Legalized Medicinal Psilocybin, aka Magic Mushrooms

Field Trip Health (CSE:FTRP) (OTC:FTRPF) believes it has the right business plan, intellectual property (IP) and clinical infrastructure to develop blockbuster Psychedelic medicines. Perhaps most importantly, the company is led by a stacked lineup of successful business leaders and scientists.

READ FULL PSYCHEDELIC STOCK ARTICLE

8. Peter Thiel Backs Berlin Start-Up Making Psychedelics in $125 Million Round

Almost a Billion People Suffer From Mental Health Problems Worldwide, According to the World Health Organization

Silicon Valley Billionaire tech investor Peter Thiel has backed a Berlin start-up aiming to make Psychedelic drugs to treat mental health disorders in a $125 million funding round. ATAI Life Sciences, which describes itself as a drug development platform, was set up to acquire, incubate and develop psychedelics and other drugs that can be used to treat depression, anxiety, addiction and other mental health conditions.

READ FULL ATAI ARTICLE

7. Tilray Announces Deal to Exchange Approximately $124.3 Million in Principal Amount of its 5.00% Convertible Senior Notes Due 2023 for Common Stock

Tilray Says the Purpose is to ‘Reduce the Company’s Debt and Eliminate $6.2 Million in Annual Cash Interest Costs’

Effectively, Tilray (NASDAQ:TLRY) agreed to repurchase a portion of its Notes at a 36% discount to their face value, using shares issued at the Company’s most recent closing market price (which is equivalent to a conversion price of $7.36 per share).

READ FULL TILRAY ARTICLE

6. Revive Therapeutics Announces Research Collaboration with PharmaTher for Development of Psilocybin in Cancer and Discovery of Novel Uses of Psychedelics

“Revive Continues to Be Focused on Developing Novel Uses for Psilocybin That Leverages Our Proprietary Oral Thin Film Delivery Technology as a Differentiated Therapeutic Approach”

Revive Therapeutics (OTCPK: RVVTF), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, is pleased to announce it has entered into an exclusive research collaboration agreement with PharmaTher Inc., a wholly-owned subsidiary of Newscope Capital Corporation (OTC:PHRRF) and a specialty psychedelics pharmaceutical company, to accelerate the development of psilocybin in the treatment of cancer and the discovery of novel uses of undisclosed psychedelic compounds.

READ FULL REVIVE ARTICLE

5. TerrAscend Gets New $15 Price Target at ATB Capital

In an Update to Clients, the Analyst Said TerrAscend’s Growth Prospects in Key U.S. States Look Excellent

ATB Capital Markets analyst Kenric Tyghe has increased his one-year target on cannabis company TerrAscend (OTCQX:TRSSF), which just released quarterly numbers and guidance for 2021. TerrAscend has already had a remarkable year in the markets, with the stock up 245% YTD, but Tyghe sees more upside. With his new forecast, Tyghe maintained his “Outperform” rating for TER and moved his target from $12 to $15.

READ FULL TERRASCEND ARTICLE

4. Field Trip Health and WHOOP Announce Partnership to Measure Effect of Psychedelic Therapies on Physiology and Mental Health

The Collaboration Will Initially Focus on Special Operations Veterans Through Field Trip’s Basecamp Division, and Then Expand to General Population Seeking Treatment with Psychedelic Therapies

Field Trip Health (OTC:FTRPF), a global leader in the development and delivery of psychedelic therapies, and WHOOP, the human performance company, today announced a partnership whereby Field Trip will be using WHOOP Strap 3.0 to measure the biometric effects of Field Trip’s psychedelic therapies.

READ FULL FIELD TRIP ARTICLE

3. Curaleaf Sees Numerous Analysts Raise Price Targets Following Third Quarter Results

Curaleaf Recently Reported Q3 Earnings with the Company Reporting Total Revenue of $182.4 Million, up 55% From the Third Quarter

Matt Bottomley of Canaccord Genuity raised his 12-month price target to on Curaleaf (OTCQX:CURLF) C$18.50 from C$16.00 and reiterated their speculative buy rating on the company. A number of other analysts changed their ratings on the company following the financial results, including the following:

  • Canaccord Genuity raised its price target to C$18.50 from C$16.
  • Eight Capital raised its target price to C$20 from C$16.
  • Alliance Global partners raised its target price to C$22 from C$16.

READ FULL CURALEAF ARTICLE

2. Mind Medicine: Canaccord Maintains Ratings Following Financial Results

“As a Clinical-Stage Biotechnology Company, Quarterly Financials Are Not a Materially Impactful Event, Apart From Unexpected Variations in Forecast Cash Burn”

On Friday, November 13th, MindMed (OTCQB:MMEDF) reported their third-quarter 2020 financial results. Tania Gonsalves, Canaccord Genuity’s biotechnology analyst, has a C$2 price target and a speculative buy rating.

READ FULL MINDMED ARTICLE

1. Trulieve Cannabis Gets Bullish New Price Target at Beacon Securities

Beacon Analyst, Russell Stanley is Feeling More Bullish on Trulieve After the Company’s Third-Quarter Earnings Beat

In a report to clients, Stanley reiterated his “Buy” rating on Trulieve (OTCQX:TCNNF) and raised his target price from C$55 to C$64 per share, reflecting a projected 12-month return of 81%.

READ FULL TRULIEVE ARTICLE

Photo by davide ragusa on Unsplash


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