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

December 29, 2020 11:02 am
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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 December 21st – 27th, 2020.

Without further ado, let’s get started.

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

10. Here’s the Dividend Pot Stock Most Likely to Double in 2021

IIPR More Than Doubled So Far This Year and is in a Strong Position for a Repeat Performance

Dividend stocks aren’t generally known for generating tremendous gains over short periods. Given enough time, dividend stocks can make investors a lot of money. There are some dividend stocks, however, that are more hares than tortoises. They pay attractive dividends and deliver impressive growth at the same time. One such stock especially stands out, in my opinion. I think that the dividend stock most likely to double in 2021 is… Innovative Industrial Properties (NYSE:IIPR) (FRA: 1IK).

READ FULL IIPR ARTICLE

9. Is Compass Pathways Stock a Buy?

This Small-Cap Biotech May Very Well Revolutionize How We Treat Depression

Despite having an IPO just three months ago, Compass Pathways (NASDAQ:CMPS) is already up a staggering 224% from its IPO price of $17. If you invested $10,000 in its first-ever public offering, that investment would be worth over $32,400 today, far outperforming the S&P 500’s 11.3% gain during the same period. Despite being a small fish in the biotech ocean, Compass Pathways has the backing of Silicon Valley billionaire tech-investor Peter Thiel with a 10 million euro stake. Just what could spark so much interest in an early-stage company with only one pipeline candidate?

READ FULL CMPS ARTICLE

8. Paradigm Initiates Coverage on Trulieve With $59 Price Target

Corey Hammill, Paradigm Senior Analyst Headlined the Initiation Note With “Flourishing in Florida & Looking Beyond”

Earlier this month, Paradigm Capital initiated coverage on Trulieve (CSE:TRUL) (OTCQX:TCNNF)  with a C$59 12-month price target and a Speculative buy rating. Trulieve currently has 14 analysts covering the company with a weighted 12-month price target of C$53.75. This is up from the average at the start of the month, which was C$43.60. Two analysts have “STRONG BUY” ratings, while the remaining 12 have “BUY” ratings.

READ FULL TRULIEVE ARTICLE

7. New Psychedelic Stock Novamind Receives CSE Conditional Listing Approval

Subject to Final Exchange Approval, the Common Shares of Novamind Are Expected to Commence Trading on the CSE Under the Ticker Symbol “NM” on or About January 5, 2021

Novamind (CSE:NM), formerly Hinterland Metals and Novamind Ventures, together announce that they have received conditional approval from the Canadian Securities Exchange (CSE) for the public listing of its common shares following the completion of the previously announced reverse takeover transaction with Novamind. The Parties will carry on the business of Novamind, a leading mental health company specialized in Psychedelic-assisted psychotherapy.

READ FULL NOVAMIND ARTICLE

6. Exclusive: Aphria, Tilray CEOs Discuss Merger, Hiring and ‘No Massive Layoffs’

The Deal Would Create the Largest Enterprise in the Cannabis Industry By Revenue

Shares of Canadian Licensed-Producers (LPs) Aphria (TSX:APHA) (NYSE:APHA) (FRA: 10E)  and Tilray (NASDAQ:TLRY) (FRA: 2HQ)  traded higher following the news about the two companies mergingBenzinga caught up with Aphria CEO and chairman Irwin D. Simon, who will maintain those two positions in the new company, and Tilray CEO Brendan Kennedy, who will serve in the new corporation’s board of directors alongside one other person picked by Tilray, and seven others (including Simon) from Aphria.

READ FULL APHRIA TILRAY ARTICLE

Source: Shutterstock

5. Revive Therapeutics Provides Update on FDA Phase 3 Clinical Trial for Bucillamine in COVID-19 with Plans on Emergency Use Access

Revive’s Clinical Safety Team Has Actively Monitored the Ongoing Interim Data of Patients and Found There Have Been No Safety Concerns and No Severe Adverse Events During the Interim Analysis Enrollment Period

Revive Therapeutics (CSE:RVV) (OTCPK: RVVTF) (FRA: 31R) announced an update on the company’s U.S. FDA Phase 3 clinical trial to evaluate the safety and efficacy of Bucillamine in patients with mild to moderate COVID-19. The company is on pace to meet its enrollment goals for the Independent Data and Safety Monitoring Board (DSMB) to review the safety and efficacy data from the 210 patients as part of the first interim analysis of patients treated and followed up for 28 days after randomization.

READ FULL REVIVE ARTICLE

4. Ayr Strategies Acquires CannTech For $57.4M; Street Sees 34% Upside

A Day After Ayr Strategies Announced the $290 Million Acquisition of Florida MSO Liberty Health, the Company Reported it Will Also Be Acquiring Pennsylvania-Based CannTech for $57.4 Million

Ayr Strategies (CSE:AYR) (OTCQX:AYRSF) will pay CannTech $27.2 million in cash and $15 million in exchangeable shares. The acquisition includes a 143,000 sq. ft. cultivation and processing facility on 13 acres. Additionally, the first phase of the planned build-out of the facility is complete and permitted for cultivation. CannTech’s license allows up to six dispensary locations in Pennsylvania. In reaction to the deals worth $490 million to enter the “attractive” Florida and New Jersey markets and expand its footprint to seven U.S. states, Cantor Fitzgerald analyst Pablo Zuanic raised the price target on AYRWF from $24 to $24.50 and reiterated a Hold rating on Dec. 24. The new price target implies a 9% upside potential.

READ FULL AYR CANNTECH ARTICLE

3. Canopy Growth Says GW Pharma Infringed on CBD Extraction Patent in Federal Lawsuit

Two of the Biggest Players in the Marijuana Space Are Heading to Federal Court Over a Dispute Related to an Alleged Violation of a Patent for a Cannabis Extraction Method

Canopy Growth (TSX:WEED) (NASDAQ:CGC) (FRA: 11L1), a Canadian-based Marijuana company, filed a lawsuit on Tuesday against GW Pharmaceuticals (NASDAQ:GWPH) (FRA: GW2A), a UK-based firm that produces the Food and Drug Administration-approved Cannabis-derived anti-seizure medication Epidiolex.

READ FULL CANOPY GW PHARMA ARTICLE

2. The Best Psychedelic Stocks Can 10x Your Money

Investors Who Think They Missed the Explosion in Pot Stocks in 2018 Need Not Worry

Investing in the best Psychedelic Stocks today could be like getting in on the ground floor of the medical marijuana industry. The best Psychedelic Stocks on the market right now might be a tiny company called MindMed (NEO: MMED) (OTCQB:MMEDF) (DE: MMQ). As early MindMed investor Kevin O’Leary explains in an interview, the company has more trials going on all over the world than any other Psychedelic medicine company out there. This could be like getting the chance to buy Canopy Growth (TSX:WEED) (NASDAQ:CGC) (FRA: 11L1) back in 2014, which would’ve given you a 767% gain by now. By the way, Canopy Growth founder and former CEO Bruce Linton is also an early investor in MindMed.

READ FULL PSYCHEDELIC STOCKS ARTICLE

1. Ayr Strategies to Enter Florida Market With $372 Million All-Stock Acquisition of Liberty Health Sciences

The Proposed Deal Would See Liberty Shareholders Receive 0.03683 Subordinate Voting Shares For Each LHS Share Held, With an Implied Valuation of $1.05, This Represents a Significant Premium of Approximately 94%

Ayr Strategies (CSE:AYR) (OTCQX:AYRSF) is headed to Florida. The company this morning announced that it will be acquiring that of Liberty Health (CSE:LHS) (OTCQX:LHSIF) (FRA: S6UQ) in an all-stock transaction valued at roughly $372 million. Liberty shareholders are expected to hold approximately 20% of the resulting issuer, with the resulting firm to have a footprint across the states of FloridaPennsylvaniaArizonaOhioNew JerseyNevada and Massachusetts.

READ FULL AYR LHS ARTICLE

XMAS BONUS: Riding The Green Wave: As Cannabis Reform Continues in 2021, Here’s What to Expect

The 2020 State Ballot Results Are Heralded as a “Green Wave” for the Cannabis Industry, Providing Growth Opportunities for Current and Would-Be Operators

Expansion efforts were well underway even before Election Night 2020. Such efforts saw brands like Acreage Holdings (CSE:ACRG) (OTCQX:ACRGF) (FSE: 0VZ) drop $10 million in June to obtain Compassionate Care Foundation, one of New Jersey‘s 12 currently licensed operators. Similar efforts were underway in Arizona and in November, Curaleaf (CSE:CURA) (OTCQX:CURLF) president Steve Cottrell told AZ Central that the company spent roughly $4 million on upgrades, including doubling its Glendale store to 5,000 square feet.

READ FULL 2021 GREEN WAVE ARTICLE