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 July 6th – 12th, 2020.
Without further ado, let’s get started.
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Staying up to date on insider trading activity is essential and many investors use this information to help predict the future trend of a sector or an individual stock. Without further delay, here’s a recap of the past month’s insider trading activity from the most noteworthy Cannabis Stocks.
Companies working in the Psychedelics industry have also listed on the TSX Venture Exchange and the NEO Exchange in Canada. Several other companies in the sector are actively raising capital from the investment community to develop their business, and have plans to “go public” in Canada.
Horizons ETFs Management (Canada) has completed the quarterly rebalance of the constituent holdings of the Horizons Marijuana Life Sciences Index ETF (TSX: HMMJ) and the Horizons U.S. Marijuana Index ETF (NEO: HMUS).
Aleafia Health (TSX: ALEF) (OTCQX: ALEAF) (FRA: ARAH) issued a corporate update announcing that they had completed the planting of their outdoor crop, while simultaneously scaling up their greenhouse operations.
MagicMed Industries announced that it has filed a provisional patent application with the United States Patent and Trademark Office (USPTO) covering composition of matter, drug formulation and process of preparation claims for novel Psilocybin derivatives.
Cansortium (CSE: TIUM.U) (OTCQB: CNTMF) is a medical cannabis company with vertically integrated cultivation, processing, formulation and sales through its patient platform, with operations based in Florida’s medical market but also with interests in Texas, Michigan and Pennsylvania.
ATAI Life Sciences has acquired a majority stake in New York-based pharmaceutical company Kures, which targets the important intersection between pain and opioid use disorder. Additionally, Srinivas Rao, MD, PhD, Chief Scientific Officer of ATAI Life Sciences, has been appointed CEO of Kures.
Semple has put Green Thumb (CSE: GTII) (OTCQX: GTBIF) (FRA: R9U2) into Echelon’s Top Picks Portfolio for the last three quarters, where the stock outperformed the tracking group average for all those time periods, including for the Q2 where GTII returned a massive 65%.
CannaGlobal, Sansero Life Sciences, and Rise Wellness announced the creation of CannaGlobal Wellness, a global Psychedelics leader focused on Psilocybin and other natural compounds to promote emotional, mental, and physical wellness.
When it comes to cannabis in Florida, Trulieve is the company that comes to mind. There are, of course, other players in the state, but Trulieve Cannabis (CSE: TRUL) (OTCQX: TCNNF) has captured a good chunk of the retail space with 51 dispensaries. The company now operates a total of 53 dispensaries in the U.S., with the other two in California and Connecticut.