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 March 1st – 7th, 2021.
Without further ado, let’s get started.
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Anyone Remotely Familiar With Cannabis Investing Has Heard of High Times Magazine, However, Many Are Still Unaware of the Rising U.S. Marijuana Stock That Owns the Rights to High Times Branded Assets in Key U.S. Markets
Red White & Bloom (CSE: RWB) (OTCQX: RWBYF), a rising U.S. Multi-State Operator (MSO) with a growing American footprint that now includes California, Arizona, Michigan, Illinois, Oklahoma, and Massachusetts, has until now largely flown under most investors’ radar.
Significant Progress Made as Numinus-Sponsored PRIME Study on Psilocybin-Assisted Psychotherapy for Opioid, Stimulant and/or Alcohol Use Disorders Enters Pre-Implementation Stage
Numinus Wellness (TSXV: NUMI) (OTC: LKYSD) (FRA: LR23) and Syreon Corporation, a global contract research organization with expertise in conducting clinical trials across a broad range of diseases, are pleased to share that significant progress has been made in the single-arm, open-label compassionate access1 trial of Psilocybin-Research Intervention with Motivational Enhancement (PRIME) for substance use disorders. The study will contribute to a growing body of research to inform larger randomized controlled trials for these indications. The study will take place in Vancouver and will enroll 30 individuals with opioid, stimulant and/or alcohol use disorders. Syreon is leading the trial as Clinical Research Organization (CRO) with Numinus as the trial sponsor.
A big earnings miss in its latest quarterly numbers has PI Financial analyst Jason Zandberg staying on the sidelines with Cronos Group
In an update to clients on Monday, Zandberg reiterated his “Neutral” rating while increasing his target price from $7.50 to $10 per share. From his perspective, Zandberg called the impact of Cronos Group’s (TSX: CRON) (NASDAQ: CRON) (FRA: 7CI) fourth-quarter a negative, saying, “EBITDA losses during the quarter were far greater than expected. We are maintaining our Neutral rating on CRON and increasing our price target only because industry multiples have risen. With that being said, we recommend clients should avoid the stock until we have better clarity on how Cronos will invest their large cash position.”
Mental Health is Talked About Now More Than Ever, and as the Globe Continues to Struggle With an Altered Reality at the Hands of the Global Pandemic, Patients Affected By Depression and Depression-Related Illnesses are Increasing at an Astonishing Rate
Through tireless efforts and pure dedication, scientists around the world have once again begun to explore the unique medical effects of Psychedelic compounds to offer a realistic treatment for those patients faced with little hope of stability. Within the course of the past few years, the following Psychedelic Stocks have emerged as leaders in the industry based on current studies and compounds that are drawing the attention of investors everywhere: Compass Pathways (NASDAQ: CMPS), MindMed (NEO: MMED) (OTCQB: MMEDF) (DE: MMQ), Johnson & Johnson (NYSE: JNJ) and Bright Minds Biosciences (CSE: DRUG).
This is the First and Only Solidified Commercial Supply Chain of Psilocybin Mushrooms and Could Open Up Many Doors for Mydecine to Potentially Collaborate and Participate in Promising New Initiatives
Mydecine Innovations (CSE: MYCO) (OTC: MYCOF), an emerging biopharma company in the life sciences category committed to the research and development, production, and acceptance of alternative nature-sourced medicine for mainstream use, has completed the world’s first international legal export of dried Psilocybin mushrooms.
With Canada Currently the Only Major Country at the Moment to Allow Recreational Cannabis Nationwide and Mexico and the U.S. Expected to Join Their Neighbour to the North By the End of 2021, Much of the Attention on the Cannabis Industry is Focused on the Americas
These are no doubt groundbreaking advancements, but in an emerging industry in its infancy, it’s just the beginning. As the push for legalization in the U.S., Mexico, Latin America, Europe, the Middle East and Asia-Pacific intensifies, Cannabis is ultimately going global. One company that is focused on exploring these international opportunities is Creso Pharma (ASX: CPH) (OTC: COPHF) (FRA: 1X8). Based in Australia, and with operations around the world, Creso has emerged as a global cannabis industry leader.
It Feels Like These Companies Are Casting a Wide Net, But it Makes Sense to File at the Beginning of This Mushroom Mania
It seems that a week doesn’t go by without a psychedelic company saying it has filed for a patent of some sort. Here are some of the Psychedelic Stocks that have filed for patents over the past few months: NeonMind Biosciences (CSE: NEON), Mydecine Innovations (CSE: MYCO) (OTC: MYCOF), Revive Therapeutics (CSE: RVV) (OTCPK: RVVTF) (FRA: 31R), Field Trip Health (CSE: FTRP) (OTC: FTRPF), Champignon Brands (CSE: SHRM) (OTCQB: SHRMF) (FRA: 496) and Lobe Sciences (CSE: LOBE) (OTC: GTSIF).
Cannabis-Infused Beverage Category Appeals to New-to-Category Consumers as Alternate to Alcohol
Green Thumb (CSE: GTII) (OTCQX: GTBIF) (FRA: R9U2) announced an exclusive partnership with leading cannabis-infused beverage brand Cann to manufacture and distribute its line of cannabis-infused sparkling beverages beginning in Illinois this spring. Green Thumb and Cann will expand distribution to additional markets including New Jersey, which recently legalized adult-use cannabis sales.
A Source Close to the Matter Said the Funding Round Had Valued Atai at About $2 Billion, Adding That the Company Was Considering Floating on the U.S. Stock Market in May
Berlin biotech startup Atai Life Sciences, which is exploring the use of Psychedelic treatments for depression, anxiety and addiction, on Wednesday said that it had raised $157 million from investors to develop its drugs pipeline. The financing was led by existing backers – co-founder Christian Angermayer and early Facebook (NASDAQ: FB) investor Peter Thiel – as well as new investor Woodline Partners.
This Partnership Will Vastly Expand Availability of Platinum’s Premium Cannabis Products in California as Demand for Home Delivery of Cannabis Products Continues to Accelerate
Red White & Bloom (CSE: RWB) (OTCQX: RWBYF) announced that its wholly-owned subsidiary, Platinum Vape has partnered with Budee, the Delivery-as-a- Service platform owned by Stem Holdings (CSE: STEM) (OTCQX: STMH) to offer Platinum products via home delivery to 92% of California’s population through the “Budee” e-commerce store.