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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U.S. Cannabis Stocks Are in the Midst of a Massive Breakout Year, Despite a Global Pandemic
Leading multi-state operators (MSOs) Trulieve Cannabis (CSE: TRUL) (OTCQX: TCNNF), Curaleaf Holdings (CSE: CURA) (OTCQX: CURLF), Green Thumb Industries (CSE: GTII) (OTCQX: GTBIF) (FRA: R9U2) and Cresco Labs (CSE: CL) (OTCQX: CRLBF) recently released another set of excellent Earnings further fueling the U.S. Cannabis sector’s 2020 bull market rally.
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 (CSE: SHRM) (OTCQB: SHRMF) (FRA: 496), Johnson & Johnson (NYSE: JNJ), AstraZeneca (NYSE: AZN) (LON: AZN), Roche Holding AG (SWX: RO) (OTCQX: RHHBY), Dr. Reddy’s Laboratories (NYSE: RDY), Takeda Pharmaceutical Company (NYSE: TAK), Pfizer (NYSE: PFE), Mylan (NASDAQ: MYL), Merck & Co. (NYSE: MRK), Alkermes (NASDAQ: ALKS), Klarisana, among others.
Analysts Have Begun to Make Adjustments to Their Ratings and Price Targets to Reflect Curaleaf’s Excellent Second Quarter 2020 Results
Following Trulieve’s (CSE: TRUL) (OTCQX: TCNNF) blockbuster earnings, Curaleaf Holdings (CSE: CURA) (OTCQX: CURLF) followed suit with an impressive quarter of its own, which featured strong revenue growth and a dramatically reduced net loss.
The Coffees Are Fair Trade and Organic, with Ayurvedic Organic Botanicals and Organic Mushroom Extracts
Better Plant Sciences (CSE: PLNT) (OTCQB: BOSQF) (FSE: YG3) 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.
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 (CSE: GTII) (OTCQX: GTBIF) (FRA: R9U2) 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.
RWB’s Public Offering Includes the Full Exercise of the Over-Allotment Option
Red White & Bloom (CSE: RWB) (OTCQX: 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 (CSE: RVV) (OTCPK: RVVTF) (FRA: 31R) 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.
The Marijuana Companies Generating Terrific Sales Growth Are in a Race to One Billion
Multi-state operator (MSO) Curaleaf (CSE: CURA) (OTCQX: 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.
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.
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 (NASDAQ: 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?