Cannabis Countdown: Top 10 Marijuana Stock News Stories of the Week
Welcome to the Cannabis Countdown. In this week’s rendition, we’ll recap and countdown the top 10 marijuana stock news stories for the week of September 23rd – 29th, 2019.
Without further ado, let’s get started.
10. 4 Cannabis Stocks Crack the Inaugural TSX30 Top Performers List
Canopy Growth WEED CGC leads group of pot stocks in the new TSX30 list highlighting the 30 top-performing Canadian stocks.
In addition to Canopy, three other Canadian marijuana stocks made the list with all of them cracking the top ten. Included on the new list was Village Farms VFF VFF, Aphria APHA APHA and Neptune Wellness NEPT NEPT.
9. Red White & Bloom to Attend Green Chip Stocks Summit in San Francisco This Weekend
The Green Chip Stocks Summit, founded by investment publishing legend Jeff Siegel, is a yearly event hosted exclusively for the sophisticated paid subscribers of the Green Chip Stocks newsletter.
One of the main attractions of the Green Chip Summit was the investor presentation by Red White & Bloom RWB IPO Soon)) CEO Brad Rogers.
8. Natural Selection in the Marijuana Industry, Only the Strongest Cannabis Stocks Will Survive
The climate of the marijuana industry is ever-changing, forcing cannabis companies to either adapt to the times or get left behind.
Former Canopy Growth WEED CGC CEO Bruce Linton says marijuana stocks that don’t adapt will die.
READ FULL NATURAL SELECTION ARTICLE
7. MediPharm and TerrAscend Ink $27 Million Private Label Deal
MediPharm Labs LABS MEDIF announced the signing of a multi-year supply deal with TerrAscend TER TRSSF.
Under the terms of the deal, MediPharm will supply TerrAscend over the next two years with approximately $27 million worth of high-quality private label cannabis distillate with a renewal option worth up to $192 million.
6. Aleafia Issues Profitable Q3 2019 Guidance, Cancels Reverse Split
Aleafia Health ALEF ALEAF announced the issuance of its Q3 2019 guidance.
The company expects to achieve positive net income in the third quarter or 2019.
5. Auxly Closes $123 Million Imperial Brands Investment
Auxly Cannabis XLY CBWTF announced the closing of its previously reported $123 million debenture investment from Imperial Brands. The debenture is convertible into 19.9% ownership in Auxly.
The landmark deal currently sits as one of the largest big tobacco investments in cannabis industry history.
4. GW Pharma Receives EU Approval for CBD-Based Seizure Drug Epidyolex
GW Pharmaceuticals GWPH announced this morning that the European Commission has approved the marketing authorization for the company’s plant-derived CBD-based epilepsy drug Epidyolex.
The company’s milestone drug approval opens the door for GW Pharma to launch Epidyolex throughout Europe.
3. U.S. Analyst Initiates Coverage on 8 Cannabis Stocks, Includes Price Targets
U.S. based analyst Bill Kirk of MKM Partners initiated coverage on eight marijuana stocks last Friday.
To go along with his research coverage, the analyst also issued a mix of buy/sell ratings and price targets on Canopy Growth WEED CGC, Aurora Cannabis ACB ABC, Cronos Group CRON CRON, Tilray TLRY, HEXO Corp. HEXO (NYSE-A: HEXO), Curaleaf Holdings CURA CURLF, Acreage Holdings ACRG ACRGF and Constellation Brands STZ.
2. Cannabis Industry Hopes SAFE Banking Act Will Spark New Wave of Growth
The passage of the SAFE Act would allow cannabis companies to open operational bank accounts and let consumers purchase cannabis products with debit or credit cards.
“It’s a very strange scenario to be in when you’re in a fully fledged state legal industry that doesn’t have access to traditional banking. It’s a rather fundamentally large step in the right direction towards a different future for cannabis legalization,” stated Charlie Bachtell CEO of Cresco Labs CL CRLBF.
1. U.S. Cannabis Stocks Jump Following Yesterday’s Historic Cannabis Banking House Vote
The cannabis industry in the United States made history taking a huge step forward after the U.S. The House of Representatives officially passed the SAFE Banking Act in a 321-103 vote.
The following day these 9 U.S. multi-state operators traded higher in reaction to the historic SAFE Banking Act House vote.
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