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 August 17th – 23rd, 2020.
Without further ado, let’s get started.
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10. Q2 2020 Earnings Roundup: Breakout Year Continues for Top U.S. Multi-State Operators
U.S. Cannabis Stocks Are in the Midst of a Massive Breakout Year, Despite a Global Pandemic
Leading multi-state operators (MSOs) Trulieve Cannabis TCNNF, Curaleaf Holdings CURLF, Green Thumb Industries GTBIF and Cresco Labs CRLBF recently released another set of excellent Earnings further fueling the U.S. Cannabis sector’s 2020 bull market rally.
READ FULL U.S. MSOS EARNINGS ARTICLE
9. The 2020 Upside: A Perfect Storm for Psychedelics Investors
It’s Clear That a Pandemic-Related Mental Health Crisis Has Taken Center Stage, and Human Mental Health Wellness Issues Are Squarely in the Wheelhouse of Psychedelics-Based Psychotherapy
There is now even a Psychedelics Index, tracking stock movements of 17 public companies and dozens of other Psychedelic Stocks in various stages of development. According to Data Bridge Market Research, the players already in place in the global psychedelics business include Compass Pathways, Champignon Brands SHRMF, Johnson & Johnson JNJ, AstraZeneca AZN, Roche Holding AG RHHBY, Dr. Reddy’s Laboratories RDY, Takeda Pharmaceutical Company TAK, Pfizer PFE, Mylan MYL, Merck & Co. MRK, Alkermes ALKS, Klarisana, among others.
READ FULL PSYCHEDELICS ARTICLE
8. Curaleaf Sees Analyst Rating and Price Target Boosted Following Strong Q2 Earnings
Analysts Have Begun to Make Adjustments to Their Ratings and Price Targets to Reflect Curaleaf’s Excellent Second Quarter 2020 Results
Following Trulieve’s TCNNF blockbuster earnings, Curaleaf Holdings CURLF followed suit with an impressive quarter of its own, which featured strong revenue growth and a dramatically reduced net loss.
7. NeonMind Ready to Launch Four Mushroom Coffee Blends
The Coffees Are Fair Trade and Organic, with Ayurvedic Organic Botanicals and Organic Mushroom Extracts
Better Plant Sciences BOSQF announced that its subsidiary NeonMind Biosciences has completed final product development for four unique Ayurveda-inspired and botanical-enhanced mushroom coffee blends which are now moving into the mixing stage with a co-packer.
6. Cannabis MSO Green Thumb Seeks to Raise $150 Million Through Stock Sale
GTI Said in its Prospectus That it Would Use the Proceeds to Increase its Capitalization and Financial Flexibility, as Well as Bankroll Possible Acquisitions and Investments
Chicago-based multi-state operator (MSO) Green Thumb Industries GTBIF wants to raise about $150 million through the sale of 10 million shares of stock, according to a regulatory filing made with the U.S. Securities and Exchange Commission.
5. Red White & Bloom Announces Upsized $25 Million Bought Deal
RWB’s Public Offering Includes the Full Exercise of the Over-Allotment Option
Red White & Bloom RWBYF announced that in connection with its previously announced bought deal offering, RWB and a syndicate of underwriters, co-led by PI Financial and Eight Capital, have agreed to increase the size of the offering from $15 million to $25 million.
Revive Expects to Open the Phase 3 Clinical Trial for Patient Enrollment and Dosing in September 2020
Revive Therapeutics RVVTF announced that following the U.S. Food & Drug Administration (FDA) approval to proceed with the company’s Phase 3 clinical trial to evaluate the safety and efficacy of Bucillamine in patients with mild-moderate COVID-19, Revive is proceeding with plans to expand the Phase 3 clinical trials in Asia-Pacific Countries (APAC) and Canada.
3. Will This Be the First Cannabis Stock to Hit $1 Billion in Annual Revenue?
The Marijuana Companies Generating Terrific Sales Growth Are in a Race to One Billion
Multi-state operator (MSO) Curaleaf CURLF is so bullish on its future that it expects to reach $1 billion in sales as early as next year. Let’s take a closer look at where the company is today and if it’s poised to be the first Cannabis Stock to hit that mark.
READ FULL $1 BILLION POT STOCK ARTICLE
2. Psychedelics M&A Could Be Motivated By FOMO
Kris Miks, a Partner at Norton Rose Fulbright Canada, Said These potential Entries Will Be Fueled By a Desire to Not Be Left Behind as the Industry Continues to Develop
The business lawyer focused on mergers and acquisitions (M&A) expects to see large entities, such as pharmaceutical companies, enter the Psychedelics space sooner rather than later.
READ FULL PSYCHEDELICS M&A ARTICLE
1. GrowGeneration’s Crazy Week: What Happened?
The Rally Started Last Friday When the Grow Supplies Company Reported its Second-Quarter Financial Results, Establishing a New Revenue Record for the Tenth Consecutive Quarter
GrowGeneration’s GRWG stock has been on a roller coaster this week, posting gains of up to almost 60% from its Monday opening price, and subsequently tumbling to close the week with gains of almost 19%. The shares are still trading at double their Aug. 12 price. But, what happened?
Photo by Esteban Lopez on Unsplash
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