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 24th – 30th, 2020.
Without further ado, let’s get started.
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Psychedelics Came About as a Result of the Counterculture Influence of LSD That Began in the Late 1960s
Legendary computer scientists and developers who built the computer industry were devotees of LSD, including the founders of current-day tech giants Microsoft (NASDAQ: MSFT) and Apple (NASDAQ: AAPL), Bill Gates and the late Steve Jobs.
The Company Also Provided an Update on Continuous Disclosure Review and Interim Financial Statements
Champignon Brands (CSE: SHRM) (OTCQB: SHRMF) (FRA: 496) announced that the company has expanded its rapid-onset treatment service to include Major Depressive Disorder (MDD). Champignon’s flagship clinic, the Canadian Rapid Treatment Centre of Excellence (CRTCE), will now offer Esketamine treatment for adults with MDD.
Nothing Boosts Marijuana Investors’ Confidence More Than the Ability to Make Money
Two Cannabis Stocks, Green Thumb (CSE: GTII) (OTCQX: GTBIF) (FRA: R9U2) and Village Farms (TSX: VFF) (NASDAQ: VFF) (FRA: 02V) are receiving a lot of attention for their ability to do just that. The former’s profitability has been soaring while the latter is just on the verge of breaking even. Let’s take a look at why their stocks are enticing opportunities.
To Prepare for the Rollout, Trulieve Has Built a Commercial-Grade Kitchen at its Production Facility in Quincy Florida
Pending approval from the state’s health department, Florida‘s largest medical Cannabis company Trulieve (CSE: TRUL) (OTCQX: TCNNF) is expanding its product line with a notable introduction—THC Edibles.
MindMed is Funding a Phase 1 Clinical Trial at University Hospital Basel Liechti Lab
MindMed (NEO: MMED) (OTCQB: MMEDF) (FRA: BGHM), the leading neuro-pharmaceutical company for Psychedelic inspired medicines and the University Hospital Basel’s Liechti Lab are now combining MDMA and LSD in a groundbreaking Phase 1 clinical trial. The Phase 1 MDMA-LSD trial is scheduled to start in Q4 of this year in Basel, Switzerland.
Canopy Growth, Which is the Biggest Pot Stock By Market Cap, Said it Would Open Both its Tweed and Tokyo Smoke Shops in the Province, With Most Appearing in Calgary
Canopy Growth (TSX: WEED) (NYSE: CGC) (FRA: 11L1) on Friday said it would open 10 physical retail locations next week in Alberta, the first of its stores to appear in a province that already has far more pot shops than any other.
Revive to Also Explore FDA Expanded Access Program (Compassionate Use) for Bucillamine in COVID-19
Revive Therapeutics (CSE: RVV) (OTCPK: RVVTF) (FRA: 31R) announced that following the U.S. Food and 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, the company has submitted its clinical trial protocol for independent Institutional Review Board (IRB) approval.
Money Managers Are Taking Positions in Cannabis Stocks Ahead of Elections
Wasatch Advisors Inc., the Utah-based asset manager, is now the second-largest holder of Cresco Labs (CSE: CL) (OTCQX: CRLBF) and an investor in Green Thumb (CSE: GTII) (OTCQX: GTBIF) (FRA: R9U2), both Chicago-based MSOs, while Fidelity Investments is an investor in Curaleaf (CSE: CURA) (OTCQX: CURLF), the Wakefield, Massachusetts-based MSO. An industry insider recently confirmed to me that, “big institutional investors are buying big slugs, quietly.”
Psychedelic Startups, Backed By Investors Dangling Money and Stock Listings, Are Jumping in and As They Do, They’re Also Bringing Capitalism’s Competitive Drive to Substances Rooted in Cultures That Often Avoided it
On Friday, London-based Compass Pathways, which is backed by PayPal (NASDAQ: PYPL) and Palantir co-founder Peter Thiel, filed for a U.S. IPO to trade on the NASDAQ under the ticker CMPS. It plans to use proceeds to research a depression therapy that uses Psilocybin, the psychoactive compound found in “Magic Mushrooms.”
Rumours of a Merger Between Two of the Largest U.S. MSOs Have Wafted for Weeks
A combination of Green Thumb (CSE: GTII) (OTCQX: GTBIF) (FRA: R9U2) and Trulieve (CSE: TRUL) (OTCQX: TCNNF) would create a multi-state operator (MSO) that would rival the biggest licensed seller in the country, and the world: Curaleaf (CSE: CURA) (OTCQX: CURLF).