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 23rd – 29th, 2020.
Without further ado, let’s get started.
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RWB Will Be Attending the Benzinga and Cantor Investment Conferences in December
Red White & Bloom (CSE: RWB) (OTCQX: RWBYF) announced that the company will be in attendance at two invitational investment conferences during the month of December 2020.
- Benzinga Small Cap Conference
- Panel Discussion: Tuesday, December 8th, 2020
- Presentation: Tuesday, December 8th, 2020 – 1:00PM ET
- 2020 Cantor Fitzgerald Virtual MSO Cannabis Summit
- Presentation: Wednesday, December 16th, 2020 – 3:00PM ET
The Company’s Fresh Look at Psychedelic Drugs is Attracting Lots of Attention
Shares of Compass Pathways (NASDAQ: CMPS) have soared since the company’s recent stock market debut as support grows for the use of popular recreational drugs to combat depression. Can the highly refined version of Magic Mushrooms that Compass Pathways is developing for depression give your portfolio a lift too?
AdvisorShares Pure U.S. Cannabis ETF (MSOS) Joins Sister Fund YOLO with Listed Options
AdvisorShares, a leading sponsor of actively managed exchange-traded funds (ETFs), today announced that AdvisorShares Pure U.S. Cannabis ETF (NYSE Arca: MSOS) options are now listed for trading. The actively managed MSOS became the first U.S.-listed active ETF to deliver exposure dedicated solely to American cannabis companies, including Multi-State Operators (MSOs).
The Market is in its Early Stage, and the Players in the Space Could Have a Lot of Room to Run
It was only a little over five years ago that Canopy Growth (TSX: WEED) (NYSE: CGC) (FRA: 11L1), the biggest pot stock based on market cap, was valued at close to $60 million. Today, Canopy’s market cap tops $9 billion. Some investors might feel like they missed out on the early boom for Marijuana Stocks. Don’t worry; the cannabis industry still has plenty of room to grow. If you really like getting in on the ground floor of a hot new market, though, there’s another angle you might want to explore: Psychedelic Stocks.
Village Farms Had Been Cruising Along at Pretty Well Even for the Year When the Stock Started Taking Off With the Delivery of Strong Third-Quarter Financials on November 13
Even with the recent run-up in share price, Canadian Licensed Producer (LP) Village Farms (TSX: VFF) (NASDAQ: VFF) (FRA: 02V) is still trading at a discount to its peers, says Raymond James analyst Rahul Sarugaser, who delivered a report to clients shedding light on the stock’s strong performance.
The Latest Round of Cash Collection Will See Units Sold at a Price of $1.90 Per Unit, With a Total of 13,150,000 Units of the Company to Be Sold
MindMed (NEO: MMED) (OTCQB: MMEDF) (FRA: BGHM) continues to take investor dollars, this morning announcing a bought deal private placement for $25.0 million. The financing is to be lead by Canaccord Genuity, who will act as lead underwriter on the transaction. Proceeds from the financing are to be used for the firm’s digital medicine division, microdosing research and development, and general working capital.
The Acquisition is Said to Be Used to “Accelerate Aphria’s Entry Into the U.S. Ahead of Federal Legalization of Cannabis
Aphria (TSX: APHA) (NYSE: APHA) (FRA: 10E) has closed the previously announced SweetWater Brewing Company transaction. The transaction sees one of the largest independent craft brewers in the US now brought under the Aphria banner.
Mental Health Connection Puts Ethics at the Forefront – Why is Psychedelics Raising These Questions More Than Other Industries?
Sa’ad Shah, the managing partner with Noetic Psychedelics, thinks it’s because the Psychedelics business is uniquely positioned to directly help people’s mental health. That’s the main purpose put forth by those directly involved in the sector. JR Rahn, co-founder and co-CEO of MindMed (NEO: MMED) (OTCQB: MMEDF) (FRA: BGHM), previously told INN he wants to see this industry completely change the approach to mental health.
Analysts Are Hyping up Marijuana Stocks Ahead of This Week’s Congressional Vote on the MORE Act
The Analyst: Bank of America analysts Bryan Spillane and Lisa Lewandowski released an analyst note focusing on Canopy Growth (TSX: WEED) (NYSE: CGC) (FRA: 11L1). They raised the price target on Canopy stock from CA$30 ($27.06) to CA$42 ($32.37) based upon ~19x CY21e EV/sales, and maintained ‘Buy’ rating on it.
As Groundbreaking Scientific Discoveries Continue to Illustrate the Dynamic Landscape of Psychedelic Medicine, Many Are Seeking to Invest in the Emerging Space
There are currently 12 publicly traded Psychedelic companies, several of which are on the Canadian market. Many Psychedelic enthusiasts and early investors are wondering how to buy Canadian Psychedelic Stocks and whether they should be adding them to their portfolio. This resourceful guide will answer these questions so you can start your journey as a Psychedelics investor.