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 December 9th – December 15th, 2019.
Without further ado, let’s get started.
10. Canopy Growth Launches New ‘First & Free’ CBD Line in the United States + WEED Breakout Price Target
Canopy’s 1st Line of U.S. Hemp-Derived CBD Products Are Now Available for Purchase Online
Canopy Growth WEED CGC announced the official launch of its new line of hemp products exclusively available to American consumers. Canopy’s stock chart is growing more bullish by the day, here’s an updated review and near term price target.
9. Tilray Slapped With $150 Million Lawsuit Over Alleged Plot to Bankrupt Takeover Target
$150 Million Derivative Lawsuit is Headed to Florida Federal Court
Tilray TLRY is facing some serious allegations after news broke of a $150 million lawsuit filed against the Canadian licensed producer (LP) in the state of Florida. The complaint claims Tilray through private equity firm Privateer Holdings plotted to bankrupt Saavy Naturals for the purpose of acquiring it at a reduced valuation.
READ FULL TILRAY LAWSUIT ARTICLE
8. Medmen Further Slashes Corporate Jobs, Extends Debt Maturities, Sources Additional Funds
Key Among the Changes Are a Further Reduced Annual Selling, General, and Administrative Expenses Target
Medmen MMEN MMNFF dropped a bombshell of a news release this week, highlighting several key changes being made at the firm as a result of securing additional financing.
7. Hollister Biosciences to Launch Premium Organic Hemp-Brewed Beverage Dubbed ‘Rebel Tea’
Hollister, Through its Hemp Division, Rebel Hemp Company, to Launch Rebel Tea Hemp Beverage
Hollister Biosciences HOLL HOB through its hemp division, Rebel Hemp Company announced the launch of its premium organic hemp-brewed beverage, Rebel Tea, at the Dream House MJBiz VIP Event in Las Vegas, Nevada.
6. TransCanna Sees Revenue Soar 90% Over Previous Month as its Facilities Expand
Revenue Increase Attributed to Flower, Edibles Sales and Initiation of Manufacturing and Distribution Units
TransCanna Holdings TCAN TCNAF TH announce that the company has increased its revenues from October by 90% to CAD $473,000.00. “We are very pleased with the November results,” said TransCanna President & CEO Steve Giblin.
5. Innovative Industrial Properties Declares 28% Q4 Dividend Increase
Common Stock Dividend Increased 28% From Prior Quarter and 186% from Q4 2018
Innovative Industrial Properties IIPR announced that its board of directors has declared a fourth quarter 2019 dividend representing an approximately 28% increase over IIP’s third-quarter 2019 dividend and an approximately 186% increase over the company’s fourth-quarter 2018 dividend.
4. Aurora Details Why it Temporarily Halted German Medical Cannabis Sales
German Law Prohibits Sale of Medical Products That Underwent Ionizing Irradiation Without Special Permit
Aurora Cannabis ACB ACB was forced to stop sales of Medical Marijuana in Germany over “a form of treatment that we use to maintain the product without microbial contamination,” said Aurora’s Chief Corporate Officer Cam Battley.
READ FULL AURORA CANNABIS ARTICLE
3. 4 Cannabis Stocks to Play Illinois’ Budding Marijuana Market
The Land of Lincoln Could Generate Over $1.1 Billion in Annual Cannabis Sales By 2024
The following Marijuana Stocks want a piece of Illinois‘ $1.1 billion cannabis market: Green Thumb, Cresco Labs, Curaleaf Holdings and Acreage Holdings.
READ FULL ILLINOIS POT STOCKS ARTICLE
2. Canadians Drop Nearly $1 Billion on Legal Pot, Ontario to Scrap Botched Retail System
Ontario Led All Provinces Selling $217M Worth of Recreational Cannabis in 1st Year of Legal Sales
Ontario set to remove the cap on the number of private retail cannabis stores in the nation’s largest province. News of the Ontario government’s new retail plan caused shares of Canadian Pot Stocks to rally in response.
READ FULL ONTARIO CANNABIS ARTICLE
1. Pot Stocks Rally in Reaction to Canopy Growth’s New CEO Announcement + WEED Stock Breakout
Canopy’s Current CEO Mark Zekulin Will Step Down to Make Way For Constellation Brands’ CFO
Canopy Growth WEED CGC announced effective January 14, 2020, current Constellation Brands STZ CFO will take over the reins of the largest Canadian licensed producer (LP) and assume the role as the company’s new CEO. News of Canopy’s new commander-in-chief sparked a sector-wide rally in Cannabis Stocks.
READ FULL CANOPY GROWTH ARTICLE
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