Welcome to the Cannabis Countdown. In this week’s rendition, we’ll recap and countdown the top 10 Marijuana and Psychedelic stock news stories for the week of April 20th – 26th, 2020.
Without further ado, let’s get started.
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The federal government of both the U.S. and Canada have green-lit the burgeoning Psychedelics industry while also placing extremely high barriers to entry. Investors looking to get involved in the world of Psychedelic Medicine should take a close look at the two companies leading the emerging sector forward.
Cronos Group (TSX: CRON) (NASDAQ: CRON) (FRA: 7CI), Charlotte’s Web (TSX: CWEB) (OTCQX: CWBHF) and Trulieve (CSE: TRUL) (OTCQX: TCNNF) are three Pot Stocks that have posted profitable quarters within the past year, but are they good buys today?
MindMed (NEO: MMED) (OTC: MMEDF) (FRA: BGHM) announced that it has discovered a new technology that the company says could help shorten or even stop the effects of an undesired LSD trip. MindMed’s ‘LSD Neutralizer’ could help the industry reduce the stigma and fear associated with Psychedelics By eliminating ‘Bad Trip’ experiences.
Unfortunately, Aurora Cannabis (TSX: ACB) (NYSE: ACB) (FRA: 21P) has been a veritable dumpster fire. The company continues to lose money at an extraordinary pace, and it appears to lack the cash needed to meet its expected liabilities over the coming 12-month period.
Sarugaser recently released a research update on Organigram (TSX: OGI) (NASDAQ: OGI) (FRA: 0OG), which saw the analyst maintain his “Outperform 2” rating on OGI stock. Sarugaser believes the company should have an excellent upcoming quarter.
Hollister Biosciences (CSE: HOLL) (OTC: HSTRF) (FRA: HOB) announced that it reached a definitive agreement to acquire AlphaMind Brands, a move that will see the surging multi-state operator (MSO) diversify into the highly promising Psychedelics sector. In late March, Hollister closed its acquisition of Venom Extracts, a leading cannabis extracts firm that generated revenue of $16.4 million and EBITDA of $2.5 million last year.
Champignon Brands (CSE: SHRM) (OTC: SHRMF) (FRA: 496) announced it obtained a long-term supply of Psilocybin for the company’s ongoing TBI/PTSD-focused preclinical studies taking place at the University of Miami’s Miller School of Medicine. Champignon’s new Psilocybin source is the same organization that supplied the Psychedelics research studies and trials at Johns Hopkins and Yale University.
There’s reason to be bullish on Canopy Growth (TSX: WEED) (NYSE: CGC) (FRA: 11L1), and it’s not only because it’s so much cheaper than it was a year ago. The company’s making moves that should set it up for better results in the future, and that could make the stock a very appealing investment today.