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 November 2nd – 8th, 2020.
Without further ado, let’s get started.
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The 2020 U.S. Election Saw 5 New States Approve Marijuana Legalization Measures, Which New Frontier Data Expects Could Grow the Size of the Cannabis Industry By an Estimated $9 Billion
Despite some lingering uncertainty surrounding the race for the Presidency between President Donald Trump and former Vice President Joe Biden, cannabis investors arguably walked away from this year’s election as the biggest winners, as evidenced by U.S. and Canadian Pot Stocks’ week of blistering gains.
Voters in Oregon Approved a Ballot Measure That Legalizes a Treatment This Newly Public Company Has in Clinical Trials
Biotech startup Compass Pathways (NASDAQ: CMPS) got good news in the U.S. election last night when Oregon became the first state in the nation to legalize the use of psilocybin — the active ingredient in Psychedelic mushrooms — as a therapeutic treatment in mental healthcare.
Haywood Capital Markets Analyst Neal Gilmer Likes the New Craft Brewer Acquisition in the United States By Cannabis Company Aphria
In an update to clients, the analyst stated that the deal adds diversification to Aphria’s (TSX: APHA) (NYSE: APHA) (FRA: 10E) lineup ahead of the potential legalization of cannabis in the US. The deal is valued at approximately $300 million including $250 million in cash and the rest in stock, along with up to $66 million in additional cash earnouts up to 2023.
DC’s Initiative 81 Passed, Decriminalizing a Wide Range of Psychedelics and Oregonians Voted in Favor of Measure 109, Allowing Patients 21-and-Over to Buy, Possess, and Consume Psychedelic Drugs at “Psilocybin Service Centers”
Havn Life Sciences (CSE: HAVN) CEO Tim Moore joined The Dales Report to discuss the recent news last week concerning the U.S. Election and the decriminalization of Psychedelic drugs in both Oregon and Washington D.C.
Net Revenue Fell on a Quarterly Basis From $72.1M to $67.8M, a Function of Both Discontinued Operations in Aurora Hemp Europe and Aurora Larssen Projects, as Well as Declining Cannabis Sales
Whereas Canopy Growth (TSX: WEED) (NYSE: CGC) (FRA: 11L1) posted revenue growth of 22.5% this morning on a quarter over quarter basis, Aurora Cannabis (TSX: ACB) (NYSE: ACB) (FRA: 21P) continued to give up its lead, with Aurora revenues declining 5.96% on a quarterly basis. Aurora’s net revenues hit $67.8 million, while the net loss amounted to $109.5 million.
Field Trip is Rolling Out Field Trip Health Centers for the Delivery of Psychedelic Therapies, is Positioned Be a Leader in the Emerging Psychedelic Renaissance
Field Trip Health (CSE: FTRP) (OTC: FTRPF), one of the leaders in the development and delivery of Psychedelic therapies, announced today that it is in the advanced stages of identifying potential sites for Field Trip Health centers to treat people in Oregon with Psilocybin therapies following the passage of Measure 109.
The Company’s Revenue Growth Came Largely From Canadian Recreational Net Revenue, Which Rose From $44.2 Million to $60.9 Million During the Quarter
Canopy Growth (TSX: WEED) (NYSE: CGC) (FRA: 11L1) reported its second-quarter 2021 Earnings, reporting net revenues of $135.3 million along with a net loss of $96.6 million for the period ended September 30, 2020. Revenues were up significantly on a quarter over quarter basis, with growth amounting to 22.5%.
And So it Begins. On Election Night, Washington, D.C., and Oregon Voted to Decriminalize Psychedelics
More than a dozen publicly traded Psychedelic Stocks, and literally hundreds of millions of dollars now flowing into Psychedelics startups. I’ve personally done quite well with some of these, particularly MindMed (NEO: MMED) (OTCQB: MMEDF) (FRA: BGHM), which has already more than doubled my initial investment. And honestly, this market is only now starting to really heat up.
The Acquisition Agreement, Confirmed Thursday, Was First Signed Back in August of 2018
Cannabis company Curaleaf (CSE: CURA) (OTCQX: CURLF) finalized the purchase transaction of Alternative Therapies Group’s licensed cultivation and processing facility in Amesbury, Massachusetts.
Data to Support MindMed’s Project Lucy in Preparing Phase 2b Trial for Anxiety Disorders
MindMed (NEO: MMED) (OTCQB: MMEDF) (FRA: BGHM) the leading Psychedelic medicine biotech company in partnership with University Hospital Basel’s Liechti Lab announces the completion and publication of a Phase 1 study on the acute dose dependent effects of LSD. The completed Phase 1 study will help MindMed in dose-finding and the planning of future Phase 2 clinical trials of LSD in patients with anxiety disorders and other medical conditions.