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

April 27, 2021 10:25 am
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Cannabis Countdown: Top 10 Marijuana And Psychedelic Stock News Stories Of The Week

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 April 19th – 25th, 2021.

Without further ado, let’s get started.

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

10. Supreme Acquisition Has Canada’s Largest Cannabis LP Poised To Grow Even Bigger

Canopy Growth, Canada’s Largest Cannabis Licensed Producer Appears Set to for Another Major Growth Spurt Following the Company’s Suprise Announcement That it Would Be Acquiring Rival LP Supreme Cannabis

Canopy Growth (TSX:WEED) (NYSE:CGC) (FRA: 11L1) announced recently that it would be acquiring Supreme Cannabis (TSX:FIRE) (OTCQX:SPRWF) (FRA: 53S1)  for a cool $435 million. It’s a somewhat curious move, as Canopy Growth has been divesting, not acquiring, Canadian assets recently. Reaction from investors has been muted, as the stock price has not seen a large swing in either direction since the deal was announced.

READ FULL WEED + FIRE ARTICLE

9. Champignon Brands Announces Revocation Of Cease Trade Orders

Following the Revocation of the Cease Trade Orders and the CSE’s Acceptance of Champignon’s New Listing Statement, the Company’s Common Shares Recommenced Trading on the CSE

Champignon Brands (CSE:SHRM) (OTCQB:SHRMF) (FRA: 496) announced that the British Columbia Securities Commission and Ontario Securities Commission revoked their cease trade orders against the company effective April 22, 2021. “We are pleased to be moving forward with a strengthened team and focus on governance. We have successfully advanced our business strategy to establish a network of clinics designed to provide rapid-acting treatments for adults with depression,” said Dr. Roger McIntyre, Chairman and CEO. “Depression is known to be one of the most disabling conditions across Canada and around the world. In addition, we have also been able to advance our research and development towards discovering novel drug treatments for individuals affected by depression.”

READ FULL SHRM ARTICLE

8. #MSOGang: Consider Buying The Warrants Of These U.S. Pot Stocks Ahead Of The Next Marijuana Market Rally

Stock Warrants Function in Much the Same Way That Stock Options Do, Giving the Owner the Right to Buy or Sell Shares of a Company at a Specific Price

Where options and warrants defer is where the money goes when the contract is exercised. While options trade on exchanges and all the money is going between investors, shares associated with warrants will be newly issued by the company. So warrants provide the company with additional funding sources when exercised, while investors reap the reward of buying additional discounted shares. If the warrants are being exercised, it’s usually a win-win situation, as the company’s share price has usually risen a significant amount (and they get the cash). The investor makes a nice gain on their investment. Let’s take a closer look at the warrants of top U.S. Multi-State Operators (MSOs) Red White & Bloom (CSE:RWB) (OTCQX:RWBYF), Cresco Labs (CSE:CL) (OTCQX:CRLBF), Ayr Strategies (CSE:AYR) (OTCQX:AYRSF) and Trulieve (CSE:TRUL) (OTCQX:TCNNF).

READ FULL MSO WARRANTS ARTICLE

7. 3 Of The Top Psychedelic Stocks That Will Blow Your Mind

It’s No Secret That 2020 Was a Turning Point for Psychedelic Stocks in the Eyes of Investors and the Pandemic Has Precipitated a Heightened Focus on Mental Health and the Inadequacies of Our Current Standards of Care

The psychedelics market is on track to keep commanding investor attention this year. However, companies must continue delivering results and proving their worth with various mental health conditions. The first listing of a psychedelic pharmaceutical company was a landmark event for the industry in 2020. According to research, the industry is expected to grow at a massive 15.8% from 2020 to 2027. With that being said, let’s look at three of the top psychedelics that are making waves at this time.

  • Compass Pathways (NASDAQ:CMPS)
  • MindMed (NEO: MMED) (OTCQB:MMEDF) (FRA: MMQ)
  • Numinus Wellness (TSXV:NUMI) (OTC:LKYSD) (FRA: LR23)

READ FULL PSYCHEDELIC STOCKS ARTICLE

6. Cronos Group Is Undervalued, Says Raymond James

In the Update, Raymond James Analyst Rahul Sarugaser Maintained His “Outperform 2” Rating and $11 CRON Target Price

Cronos Group (TSX:CRON) (NASDAQ:CRON) (FRA: 7CI) saw its share price spike earlier this year, but the stock has now been on a prolonged slide since mid-February. Is there upside from here? Likely, says Raymond James analyst Rahul Sarugaser, who in a Friday client report previewed the company’s upcoming quarterly release, saying Cronos’ cannabinoid biosynthesis investments are about to pay off.

READ FULL CRON ARTICLE

5. Cybin Selects Alcohol Use Disorder Indication For Psychedelic Molecule CYB003

Approximately 5.8% or 14.4 Million Adults in the United States Ages 18 and Older Suffered From Alcohol Use Disorder in 2018

Cybin (NEO: CYBN) (OTC:CLXPF), a biotechnology company focused on progressing psychedelic therapeutics, today announced that it has selected Alcohol Use Disorder (AUD) as the initial target indication for its proprietary deuterated psychedelic tryptamine, CYB003. AUD is a chronic relapsing brain disorder characterized by an impaired ability to stop or control alcohol use despite adverse social, occupational, or health consequences.

READ FULL CYBN ARTICLE

4. Canopy Growth Signs U.S. Distribution Agreement With Southern Glazer’s Wine & Spirits For CBD Beverage Portfolio

The Company Will Tap into Southern Glazer’s Established Distribution Network to Bring Quatreau its CBD-Infused Sparkling Water, to U.S. Retailers

Canopy Growth (TSX:WEED) (NYSE:CGC) (FRA: 11L1) announced Southern Glazer’s Wine & Spirits, the world’s pre-eminent distributor of beverage alcohol, as the distribution partner for its U.S. portfolio of CBD-infused beverages. This partnership announcement follows the recent launch of Quatreau – Canopy’s first line of CBD-infused beverages sold in the U.S market.

READ FULL WEED ARTICLE

3. Numinus Announces Phase 1 Clinical Trial of Natural Psilocybin Mushroom Extraction Prepared At Company Lab

The Clinical Trial Will Evaluate the Safety and Psychoactive Properties of Natural Psilocybin Product Extracted and Formulated at the Company’s 7,000-Square-Foot Laboratory in British Columbia, Canada

Numinus Wellness (TSXV:NUMI) (OTC:LKYSD) (FRA: LR23), a mental health care company advancing innovative treatments and safe, evidence-based psychedelic-assisted therapies, announced today that it has formed a partnership with KGK Science, a leading contract research organization with expertise in natural products, to undertake a new Psilocybin extraction clinical trial.

READ FULL NUMI ARTICLE

2. Which Cannabis Stocks To Buy? Stick With U.S. Multi-State Operators

The U.S. is the Market to Be in, and There’s One Easy Way to Buy All the Most Promising Pot Stocks

The U.S. is the market investors should hang their hat on. Already, numbers here are crushing it in terms of both growth and revenue. What’s more amazing is cannabis isn’t even federally legal yet. There is plenty of upside still to be had. These results can be seen in the recent quarterly earnings from a top name, Cresco Labs (CSE:CL) (OTCQX:CRLBF). These are numbers Canadian Licensed Producers (LPs) can only dream about. Other leading U.S Multi-State Operators (MSOs) include Curaleaf (CSE:CURA) (OTCQX:CURLF), Ayr Strategies (CSE:AYR) (OTCQX:AYRSF), and Green Thumb (CSE:GTII) (OTCQX:GTBIF) (FRA: R9U2). The fact these companies can’t list on the NASDAQ or NYSE is a disgrace, but I digress; therefore, the simplest approach is to buy the AdvisorShares Pure US Cannabis ETF (NYSE:MSOS).

READ FULL U.S. POT STOCKS ARTICLE

1. MindMed Surges Ahead Of Nasdaq Debut

Per Company CEO J.R. Rahn, MindMed’s Mission is “to Discover, Develop and Deploy Psychedelic Inspired Medicines and Therapies to Address Addiction and Mental Illness”

Clinical-stage Psychedelic medicine and biotech company MindMed (NEO: MMED) (OTCQB:MMEDF) (FRA: MMQ) is surging again Monday ahead of its NASDAQ debut. MindMed announced last Friday it will be uplisted to the NASDAQ on Tuesday, leading to a 40% rise in share price.

READ FULL MMED ARTICLE

Image Sourced from Pixabay

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