Welcome to the Cannabis Countdown, the Legal Marijuana Industry’s Number One Curated Weekly News Recap.
In This Week’s Edition, We Recap and Countdown the Top 10 Cannabis and Psychedelic Stock News Stories for the Week of January 25th – 31st, 2021.
Without further ado, let’s get started.
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RWB’s Second High Times Release Will Be Available in Twice the Number of Dispensaries as the December Launch and Feature Three New Unique Strains:
Red White & Bloom (CSE: RWB) (OTCQX: RWBYF) announced on Wednesday, the second release of its exclusive line of High Times branded cannabis products in Michigan. The company’s quick follow-up release is in response to soaring cannabis demand in Michigan after last month’s initial launch sold out in just hours.
PSYK is the First Exchange-Traded Fund (ETF) Providing Exposure to the Burgeoning Industry of Medicinal Psychedelics
The Horizons Psychedelic Stock Index ETF (NEO: PSYK) is now listed on Toronto’s NEO Exchange (NEO) under the symbol ‘PSYK.’ The ETF is managed by Horizons ETFs Management, a Canadian ETF firm that’s part of the portfolio of Mirae Assets. In 2017, Horizons released the Horizons Marijuana Life Sciences Index ETF (TSX: HMMJ) (OTC: HMLSF), the cannabis sector’s longest-running ETF. The Psychedelics ETF’s is currently made up of 17 top Psychedelic Stocks, which include big names such as Compass Pathways (NASDAQ: CMPS), MindMed (NEO: MMED) (OTCQB: MMEDF) (FRA: MMQ), Field Trip Health (CSE: FTRP) (OTC: FTRPF) and Johnson & Johnson (NYSE: JNJ).
Arizona Welcomed Adult-Use Cannabis Legalization During November’s Election, and Some Three Months Later it Commenced With the Sales
On Friday, the state-approved 73 applications out of 79 submitted, kicking off its adult-use Cannabis program. Out of 15 counties in Arizona, only nine had their dispensaries acquire the license for adult-use sales. The outlet projects for the state’s recreational market to reach between $375 – $400 million in the first year, and between $700 million and $760 million by 2024. Among large companies who already attained approval for recreational Marijuana sales in Arizona are The Mint Dispensary, Columbia Care (NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF) (FRA: 3LP), Curaleaf (CSE: CURA) (OTCQX: CURLF) and Harvest Health (CSE: HARV) (OTCQX: HRVSF).
While Details Were Rather Slim Within the Release, it Appears That AMP Will Be Utilizing its Marketing Know-How to Push Aphria’s Brands Through its Network
Aphria (TSX: APHA) (NYSE: APHA) (FRA: 10E) and AMP German Cannabis Group (CSE: XCX) (FRA: C4T) issued a brief joint press release, outlining that the two firms have partnered up to push sales in Germany. The arrangement has seen the two firms enter a joint marketing agreement for the sale of Aphria branded medical Cannabis within the German market.
The Field Trip Health Location in Atlanta is Believed to Be the First Psychedelic-Enhanced Therapy Center in the City
Field Trip Health (CSE: FTRP) (OTC: FTRPF), a global leader in the development and delivery of Psychedelic therapies, announced today the opening of their fifth location in the United States in the city of Atlanta, GA, one of many locations that Field Trip is planning to open in 2021. Located in the Glenwood Park neighborhood, the Atlanta location is the first Field Trip Health center to open this year, following the opening of Toronto, New York, Los Angeles and Chicago in 2020.
The First Products Are Expected to Be Delivered Within the First Quarter of 2021
Tilray (NASDAQ: TLRY) (FRA: 2HQ) has expanded its international operations to now include France. The company this morning revealed that it was selected by the French National Agency for the Safety of Medicines and Health Products to supply medical cannabis for experimentation in France. Tilray currently intends to export medical Cannabis from its facility in Portugal, with the necessary permits already having been received.
Denver-Based Biopharma and Life Sciences Company, Mydecine Innovations Group Has Announced Their Formal Application to List on the NASDAQ Stock Exchange
After their recent inclusion in the new Horizons Psychedelic Stock Index ETF (NEO: PSYK), Mydecine Innovations (CSE: MYCO) (OTC: MYCOF) is following in the footsteps of Psychedelic compatriot MindMed (NEO: MMED) (OTCQB: MMEDF) (FRA: MMQ), who submitted its uplisting to the NASDAQ in September 2020. Along with the psychedelic pharmaceutical giants Compass Pathways (NASDAQ: CMPS) and MindMed (which applied in late Q3 2020), Mydecine also plans to file a Form 20-F with the SEC in due course. They will also be joined by private psychedelic investment vehicle ATAI Life Sciences in the Spring.
Creso Pharma’s Stock Started the Week With a Bang
Investors have been buying Creso Pharma (ASX: CPH) (OTC: COPHF) (FRA: 1X8) shares following the release of an announcement in relation to over-the-counter sales of low-dose cannabidiol (CBD) products in Australian pharmacies. According to the release, Creso Pharma expects to benefit from changes in legislation that mean low-dose CBD products can be sold over-the-counter in Australian pharmacies from this morning.
Although Psilocybin Aka Magic Mushrooms Are Still Mostly Illegal in the U.S. and Other Countries, Research Has Shown the Drug’s Effectiveness at Treating Conditions Such as Depression, Anxiety, and Opioid Addiction
It’s not news that Pot Stocks gave investors some sweet returns in 2020, but not everyone got to the party on time. If you feel like you missed the boat on the Cannabis Boom. There might be an exciting new investment opportunity in the world of medicinal drugs in form of Psychedelic Stocks.
What Does Joe Biden as President Mean for Cannabis Businesses? Well, Nothing, Reall
Joe Biden didn’t promise to legalize marijuana while campaigning, But Biden is a Democrat, and there are a lot of Democrats who are pro-marijuana. Since investors “know” cannabis legalization is coming, and since that means cannabis is a “good investment,” investors go out and buy some of the only cannabis securities available to them. This trend suggests that r/wallstreetbets or another online forum could easily target a cannabis company as a buy target and inflate its value. Like GameStop (NYSE: GME), with that company doing absolutely nothing to necessarily deserve an enormous rise in value.