Welcome to the Cannabis Countdown. In this week’s rendition, we’ll recap and countdown the top 10 marijuana stock news stories for the week of December 9th – December 15th, 2019.
Without further ado, let’s get started.
Canopy’s 1st Line of U.S. Hemp-Derived CBD Products Are Now Available for Purchase Online
Canopy Growth (TSX: WEED) (NYSE: CGC) announced the official launch of its new line of hemp products exclusively available to American consumers. Canopy’s stock chart is growing more bullish by the day, here’s an updated review and near term price target.
$150 Million Derivative Lawsuit is Headed to Florida Federal Court
Tilray (NASDAQ: TLRY) is facing some serious allegations after news broke of a $150 million lawsuit filed against the Canadian licensed producer (LP) in the state of Florida. The complaint claims Tilray through private equity firm Privateer Holdings plotted to bankrupt Saavy Naturals for the purpose of acquiring it at a reduced valuation.
Key Among the Changes Are a Further Reduced Annual Selling, General, and Administrative Expenses Target
Medmen (CSE: MMEN) (OTCQX: MMNFF) dropped a bombshell of a news release this week, highlighting several key changes being made at the firm as a result of securing additional financing.
Hollister, Through its Hemp Division, Rebel Hemp Company, to Launch Rebel Tea Hemp Beverage
Hollister Biosciences (CSE: HOLL) (FRA: HOB) through its hemp division, Rebel Hemp Company announced the launch of its premium organic hemp-brewed beverage, Rebel Tea, at the Dream House MJBiz VIP Event in Las Vegas, Nevada.
Revenue Increase Attributed to Flower, Edibles Sales and Initiation of Manufacturing and Distribution Units
TransCanna Holdings (CSE: TCAN) (OTC: TCNAF) (FSE: TH8) announce that the company has increased its revenues from October by 90% to CAD $473,000.00. “We are very pleased with the November results,” said TransCanna President & CEO Steve Giblin.
Common Stock Dividend Increased 28% From Prior Quarter and 186% from Q4 2018
Innovative Industrial Properties (NYSE: IIPR) announced that its board of directors has declared a fourth quarter 2019 dividend representing an approximately 28% increase over IIP’s third-quarter 2019 dividend and an approximately 186% increase over the company’s fourth-quarter 2018 dividend.
German Law Prohibits Sale of Medical Products That Underwent Ionizing Irradiation Without Special Permit
Aurora Cannabis (TSX: ACB) (NYSE: ACB) was forced to stop sales of Medical Marijuana in Germany over “a form of treatment that we use to maintain the product without microbial contamination,” said Aurora’s Chief Corporate Officer Cam Battley.
The Land of Lincoln Could Generate Over $1.1 Billion in Annual Cannabis Sales By 2024
Ontario Led All Provinces Selling $217M Worth of Recreational Cannabis in 1st Year of Legal Sales
Ontario set to remove the cap on the number of private retail cannabis stores in the nation’s largest province. News of the Ontario government’s new retail plan caused shares of Canadian Pot Stocks to rally in response.
Canopy’s Current CEO Mark Zekulin Will Step Down to Make Way For Constellation Brands’ CFO
Canopy Growth (TSX: WEED) (NYSE: CGC) announced effective January 14, 2020, current Constellation Brands (NYSE: STZ) CFO will take over the reins of the largest Canadian licensed producer (LP) and assume the role as the company’s new CEO. News of Canopy’s new commander-in-chief sparked a sector-wide rally in Cannabis Stocks.
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