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

March 22, 2021 8:54 am
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Cannabis Countdown: Top 10 Marijuana And Psychedelic Stock News Stories Of The Week

Welcome to the Cannabis Countdown, the Legal Marijuana Industry’s Number One Curated Weekly News Recap.

In This Week’s Edition, We Recap and Countdown the Top 10 Cannabis and Psychedelic Stock News Stories for the Week of March 15th – 21st, 2021.

Without further ado, let’s get started.

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

10. Why This Top Cannabis Pharma Stock Could Soon Be a Global Psychedelics Leader Too

The Only Investment Sector Hotter Than Cannabis is Psychedelic Stocks, With the Market for Psychedelic Medicine is Projected to Reach $6.85 Billion By 2027

In March, Creso Pharma (OTC:COPHF) inked a blockbuster deal to acquired Halucenex Life Sciences, a company on the cusp of being one of the only fully vertically integrated Canadian psychedelic-assisted psychotherapy providers. Already a leading force in the global cannabis industry, the transformational acquisition has Creso poised to catapult itself into the burgeoning Psychedelics sector, with the possibility of quickly becoming a major player in the emerging market.

READ FULL CPH ARTICLE

9. It’s Time to Buy Village Farms Stock, Raymond James Says

Raymond James Analyst Rahul Sarugaser is Staying Bullish on Canadian Licensed Producer (LP) Village Farms After the Company’s Latest Earnings Report

In an update to clients on Tuesday, Sarugaser reaffirmed his “Strong Buy 1” rating for Village Farms (NASDAQ:VFF), saying a nominal revenue miss and resultant dip could be a buying opportunity for investors.

READ FULL VFF ARTICLE

8. Sowing the Seeds for the Next Big Healthcare Revolution

Much Like the Pot Stock Boom of the Past, We’re Seeing an Underground Uprising, With Plenty of Tiny and Speculative Stocks Suddenly Coming Out of the Woodwork

And, just like the early days of Pot Stocks, it’s Canada that is really leading the charge. At least in terms of the sheer volume of Psychedelic Stocks. For Aussie investors looking to stick to the ASX though, investing in this cutting-edge trend wasn’t possible. Or at least, it wasn’t until this week. On Monday, a fairly small pot stock known as Creso Pharma (OTC:COPHF) made an interesting announcement. The company outlined a recent acquisition of Halucenex. A small Canadian-based Psychedelics company that would align with Creso’s long-term goals.

READ FULL PSYCHEDELIC STOCKS ARTICLE

7. Cannabis REIT AFC Gamma to Debut on Nasdaq, Prices $118 Million IPO

The West Palm Beach, Florida-Based Company is Offering 6.25 Million Shares of its Common Stock at $19 Per Share

Cannabis-focused commercial real estate finance company AFC Gamma (NASDAQ:AFCG) is poised to go public and expects to debut on the NASDAQ on March 19 under the ticker symbol “AFCG.”

READ FULL CANNABIS REIT IPO ARTICLE

6. Red Light Holland Closes Acquisition of SR Wholesale Becoming a Leader in Distribution of Psychedelics

SR Wholesale Has Established a Distribution Network of Over 400 Companies That Sell Their Products Across Europe, Including Working With Sub-Distributors in the Netherlands, Germany, Spain, Czech, Greece, UK, France and Portugal

Red Light Holland’s (OTC:TRUFF) announced that its wholly-owned subsidiary, RLH Netherlands B.V., has completed the acquisition of SR Wholesale B.V., one of the Netherlands’ premiere distributors for quality psychedelic truffles. In 2020, SR Wholesale generated over $2.44 Million in revenues, and over $822,0001 in gross profit, with approximately $400,0001 of cash and working capital currently on hand. SR Wholesale also distributes popular CBD products, cannabis seeds, smart shop items, and headshop products, among others.

READ FULL RED LIGHT HOLLAND ARTICLE

5. Green Thumb: Canaccord Raises Price Target To $52 Following Q4 Results

Green Thumb Currently Has 14 Analysts Covering the Company With a Weighted 12-Month Price Target of CDN $56.04, Up From Last Month, Which Was CDN $43.74

On March 17th, Green Thumb Industries (OTCQX:GTBIF) reported its Q4 and year-end financial results. The company announced quarterly revenue of $177.2 million and full-year revenue of $556.6 million. For adjusted EBITDA, the company announced positive $65.4 million and $179.6 million for the fourth quarter and year-end respectively. This was the companies second consecutive quarter of positive GAAP net income. Three analysts have strong buy ratings, while the majority, 10 have buy ratings. One analyst has a sell rating. The street high comes from Craig Hallum with a C$74.40 price target and the lowest is from Roth Capital Partners with a C$45 price target.

READ FULL GTII ARTICLE

4. Field Trip Health Announces Closing of $95 Million Bought Deal Financing

The Lead Investor in the Offering was Soleus Capital With Additional Participation By Avidity Partners, Sphera Funds, Pura Vida Investments, Jennison Associates and Other Healthcare Specialized Institutional Investors

Field Trip Health (OTC:FTRPF) announced that it has closed the bought deal short form prospectus offering previously announced on February 25 and 26, 2021, including the full exercise of the underwriters’ over-allotment option. In connection with the offering, Field Trip issued 14,661,499 common shares, at a price of C$6.50 per common share, for aggregate gross proceeds of $95 million.

READ FULL FIELD TRIP ARTICLE

3. Canopy Growth Announces USD $750 Million Term Loan Financing

The Financing Provides Further Balance Sheet Flexibility for Growth Investments in Our Core Markets

Canopy Growth’s (NASDAQ:CGC) announced that it has entered into a credit agreement with funds advised by King Street Capital Management, L.P. Per the agreement, Canopy has raised a USD $750 million senior secured term loan. The company also has the ability to obtain up to an additional USD $500 million of incremental senior secured debt pursuant to the credit agreement.

READ FULL CANOPY GROWTH ARTICLE

2. Revive Therapeutics’ Study Shows Psilocybin Improves Brain Injury

Revive Announced Successful Research Results for Psilocybin to Treat Traumatic Brain Injury and Filing of International Patent Application

Revive Therapeutics (OTCPK: RVVTF) announced positive results of a pre-clinical study evaluating the efficacy of psilocybin in the treatment of mild traumatic brain injury (TBI) in a rodent model of TBI. The study was conducted at the National Health Research Institutes (NHRI), which was part of the psilocybin program acquired from PharmaTher Inc., a subsidiary of Newscope Capital Corporation (OTCPK: PHRRF).

READ FULL REVIVE ARTICLE

1. Why You Should Invest in Pot Stocks in 2021

The Cannabis Sector Has a Lot of Upside Potential and These Three U.S. Operators, in Particular, Should Benefit

Cannabis is still a nascent industry, but it’s expanding fast. Buying and holding the right Cannabis Stocks for the long haul will help you capture that growth for your own portfolio. And there are some U.S. cannabis companies — those with staggering revenue growth, rising and consistent profitability, and strong balance sheets — that could bring exceptional profit. These three Pot Stocks, in particular, have caught my attention over the past year with their outstanding performance: Green Thumb Industries (OTCQX:GTBIF), Trulieve Cannabis Corp (OTCQX:TCNNF) and Cresco Labs (OTCQX:CRLBF).

READ FULL U.S. POT STOCKS ARTICLE

Photo by CRYSTALWEED cannabis on Unsplash


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