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 December 7th – 13th, 2020.
Without further ado, let’s get started.
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Since the Compass Pathways NASDAQ IPO in Mid-September, Psychedelic Stocks Have Gone on an Absolute Tear Racking Up Eye-Popping Gains in the Process
Thanks to the State’s Rapid Growth, Michigan is Now the 5th Highest-Grossing State, Recently Surpassing Nevada and on Track to Reach Sales of $1 Billion
Red White & Bloom (OTCQX:RWBYF) announced the phase one roll-out of the company’s High Times branded cannabis products in Michigan. The launch of RWB’s new exclusive product lineup will be done via existing licensed operators throughout Michigan, with the initial lineup consisting of Cannabis flower, pre-rolls, vapes and edible gummies.
The Cuts to Production Are Being Undertaken as the Company Looks to “Streamline Operations and Further Improve Margins
The outlook for Cannabis operators in Canada is appearing bleak, with the announcement by Canopy Growth (NASDAQ:CGC) that it is shuttering numerous facilities across the country, along with its outdoor grow operations. In total, 220 employees are said to be impacted by the closures.
The First-of-its-Kind Policy Amendment Will Allow Legal Access to Evidence-Based Treatments to Those in Need Before Formal Drug Approval
Numinus Wellness (OTC:LKYSD) announced that the company commends Health Canada‘s leadership for its intention to revise the Special Access Programme (SAP) to permit access to MDMA and Psilocybin-assisted psychotherapy. The intended SAP revision, announced today, will positively affect the lives of the many Canadians experiencing mental health conditions who have not responded to existing therapies.
At Long Last, North American Pot Stocks Are Going to Deliver the Green
After (pardon the pun) weeding through dozens of Marijuana Stocks, I found seven that Wall Street forecasts will be profitable in the upcoming year. Here they are, in no particular order: Green Thumb (OTCQX:GTBIF), Trulieve (OTCQX:TCNNF), Curaleaf (OTCQX:CURLF), Cresco Labs (OTCQX:CRLBF), Innovative Industrial Properties (NYSE:IIPR), Planet 13 (OTCQX:PLNHF) and Columbia Care (OTCQX:CCHWF).
Psychedelics Could Soon Disrupt the $2.5 trillion Mental Health Market as Clinical Studies Begin to Uncover its Benefits in Treating OCD, PTSD, Opioid Addiction, Alcoholism, Eating Disorders, Depression and Anxiety
As the Psychedelics story gains momentum, some of the top Psychedelic Stocks to watch include Cybin Inc. (NEO: CYBN), MindMed (OTCQB:MMEDF), Compass Pathways (NASDAQ:CMPS), Numinus Wellness (OTC:LKYSD), and Havn Life Sciences (CSE:HAVN).
Florida-Based Trulieve, the First and the Largest Fully-Licensed Cannabis Company in the Sunshine State With 68 Dispensaries, Announced on Monday the Opening of a New in Clermont, Near Orlando
Beacon Securities analyst Russell Stanley likes the trajectory for Trulieve (OTCQX:TCNNF), which just opened its 73rd dispensary in the U.S. In an update to clients, Stanley reiterated his “Buy” recommendation and one-year target of C$64.00, saying the company’s Florida retail buildout has surpassed expectations in 2020.
Psychedelic Firms Have Been Stepping up Their Game, and Investors Have Taken Notice
Since announcing it was working in conjunction with Health Canada on revisions to the Special Access Program (SAP) that would permit greater access to controlled substances such as MDMA and Psilocybin, the stock price at Numinus Wellness (OTC:LKYSD) has soared. Shares of the majority of Psychedelic Stocks, including Revive Therapeutics (OTCPK: RVVTF), MindMed (OTCQB:MMEDF) and Havn Life Sciences (CSE:HAVN) have also skyrocketed in response to the Health Canada news.
Cantor Analyst Pablo Zuanic Recently Met With Several Cannabis Industry Execs and Came Back With a Few Takeaways
Prepping for the possible regulatory changes in the U.S., Zuanic has also been reviewing several Cannabis Stocks operating in the American market. Using the TipRanks database, we’ve pulled up the stats on the following three Pot Stocks, which show the classic ‘growth stock’ profile: plenty of upside potential, recent strong share appreciation, and a “Strong Buy” rating from the analyst consensus: Curaleaf (OTCQX:CURLF), Green Thumb (OTCQX:GTBIF) and Cresco Labs (OTCQX:CRLBF).
Cannabis is Only on the Cusp of Many Investors’ Comfort Zones, But the Family Offices and High-Net-Worth Individuals Hungry for Early-Stage, Edgy Investments Have Already Moved on to Psychedelics
As with Marijuana, there’s already a thriving black market for Psychedelics that speaks to their popularity. And attitudes are changing, thanks in part to Michael Pollan’s 2018 book on micro-dosing and a designation from the FDA the same year that fast-tracked a Psilocybin-based treatment for depression from Compass Pathways (NASDAQ:CMPS) based on preliminary clinical evidence. Investors noticed. When Compass, backed by Facebook, Inc. (NASDAQ:FB) and PayPal Holdings Inc (NASDAQ:PYPL) investor Peter Thiel, went public this September, its shares jumped 71% in the first day of trading.
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