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 27th – May 3rd, 2020.
Without further ado, let’s get started.
* Yahoo Finance readers, please click here to view full article.
Red White & Bloom Brands Inc. (CSE: RLTY.U) (OTC: TDRYF) (RWB, formerly, Tidal Royalty Corp.) announced the completion of its previously announced business combination with MichiCann Medical Inc. d/b/a/ Red White & Bloom (MichiCann) pursuant to the terms of the Amended and Restated Business Combination Agreement dated March 12, 2020. Red White & Bloom expects to commence trading on the CSE under the new ticker symbol ‘RWB’ by the end of May 2020.
Champignon Brands (CSE: SHRM) (OTCQB: SHRMF) (FRA: 496) announced it has a new deal in place with a major Canadian pharmacy chain that will see the company’s Ketamine products dispensed throughout the pharmacy’s network. Shares of SHRM stock recently experienced a major technical breakout, 2 days after TCI alerted readers that a breakout was likely imminent.
Cannabis stocks aren’t for all investors as the group can be volatile and risky. But for those who want exposure to the sector, a great stock to consider buying now is Innovative Industrial Properties (NYSE: IIPR) (FRA: 1IK), a cannabis-focused real estate investment trust (REIT).
In an update to clients, Sarugaser dropped his rating on Cronos Group (TSX: CRON) (NASDAQ: CRON) (FRA: 7CI) from “Outperform 2” to “Market Perform 3” while cutting his target price from $10.50 to $6.50.
TCI host Alyssa Boston (Miss Universe Canada + Cannabis Crusader) recently sat down with Brad Rogers, CEO of Red White & Bloom (CSE: RWB | IPO May 2020). During the interview, Brad discusses a variety of topics including:
- Meaning of ‘Super State Operator’
- RWB’s Strategy Behind Staying Private Until Now
- Assessment of the Market and Top MSOs Like Trulieve (CSE: TRUL) (OTCQX: TCNNF)
- Revenue Opportunities (USA v CDN)
- What Investors Can Expect from RWB Moving Forward in 2020 + Much More…
Champignon Brands (CSE: SHRM) (OTCQB: SHRMF) (FRA: 496) announced that it was selected as the headline partner for the Prohibition Partners LIVE ‘PSYCH: The Psychedelics Symposium‘ set to take place in June 2020. SHRM stock has been experiencing bullish price action and could be set for another major breakout.
For those looking to get their feet wet in the marijuana industry or perhaps angling to add to an existing cannabis portfolio, U.S. multi-state operator (MSO) Green Thumb (CSE: GTII) (OTCQX: GTBIF) (FRA: R9U2) is a company worth taking a closer look at.
Hollister Biosciences (CSE: HOLL) (OTC: HSTRF) (FRA: HOB) announced on Thursday the close of its acquisition of AlphaMind Brands, following the recently signed definitive agreement. With the transformational deal now complete, Hollister has officially diversified into the flourishing world of Psychedelics.
U.S. listed shares in Canadian licensed producer (LP) Canopy Growth (TSX: WEED) (NYSE: CGC) (FRA: 11L1) surged 12% in Friday’s after-hours trading on the news that Constellation Brands (NYSE: STZ) (FRA: CB1A) exercised almost 19 million warrants to purchase CGC shares.