Welcome to Countdown to cannabis, the legal marijuana industry’s curated weekly news bulletin.
In this week’s edition, we summarize and count down the 10 most recent stories about cannabis and psychedelic stocks for the week of February 8-14, 2021.
Without further ado, let’s get started.
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Investor euphoria in the cannabis sector reached a fever this week as pot containers became parabolic and produced gains of up to 238.89% in just 3 days
It’s official; that American Cannabis Boom 2.0 is in full swing as major market catalysts in the form of US federal Marijuana reforms seem imminent. With federal legalization in the United States closer to becoming a reality, money is flowing into the United States Cannabis market like never before, and as a result Pot storage has already seen astonishing YTD 2021 gains of up to 359.37%, 694.78% and 945.71%.
Get into psychedelics now, it’s according to Michael “Zappy” Zapolin, a former Bear Stearns VP beaten psychedelic lawyer and filmmaker
Zappy’s call to invest comes as Psychedelics make a continued push towards credibility in the medical, legal and business phase. The market – expected to be valued at over $ 6.8 billion in North America by 2027 – is currently led by MindMed (OTCQB: MMEDF), Cybin Inc. (OTC: CLXPF), Field Trip Health (OTC: FTRPF). Last month, the first ETF for Psychedelics – Horizons Psychedelic Stock Index ETF (NEO: PSYK) – began trading in the Canadian NEO exchange. This is fertile ground for Zappy, who has a track record of getting into the ground floor.
Thursday morning, Portnoy tweeted that he was “back in $ SNDL because I love Rush.” and approx. 25 minutes later, Portnoy hinted that he had turned the volatile stock for a big win
Solar growers (NASDAQ: SNDL) shares traded down 14% in massive volume in an extremely volatile trading session on Thursday after the company became one of the latest stocks targeted by communities of online traders, led by Save your WallStreetBets community. Bar stool sport founder Dave Portnoy took a big bath on his first round of WallStreetBets meme-stock buyer, but Portnoy said he earned a quick $ 50,000 by getting in and out of the sundial on Thursday.
Adam Halberstadt and John McCorvy join Jason Wallach to develop new psychedelic connections at the Virtual Discovery Center
Compass roads (NASDAQ: CMPS) announced that it has expanded its Discovery Center through collaboration with world-leading laboratories at UC San Diego, the School of Medicine and the Medical College of Wisconsin (MCW). Adam Halberstadt PhD, Associate Professor, Psychiatry, UC San Diego and John D McCorvy PhD, Assistant Professor, Department of Cell Biology, Neurobiology and Anatomy, MCW, and their teams, will join Jason Wallach PhD, Assistant Professor of Pharmaceutical Sciences, University of the Sciences (Philadelphia) at the Discovery Center, a group of researchers working virtually together.
RWB received an $ 8 million Drawing assignment from an institutional investor and signed an irrevocable $ 7 million. Non-convertible bond entity financing obligation
Red White & Bloom (OTCQX: RWBYF) announced that they have arranged the required cash for the closure of the previously announced acquisition of an Illinois license for adult use and medical cannabis cultivation and related assets. After closure and subject to regulatory approval, the company intends to introduce both of its own Platinum Vape and High Times branded goods in Illinois market. “Illinois, which only exceeded $ 1 billion. USD of sales to adults, has only developed into one of the most robust revenue markets in the United States. With funding now secured, we are excited to be one step closer to bringing Red White & Bloom’s nationally recognized brands to this market. The renewed optimism surrounding the state, which allows an additional 75 stores, further highlights the enormous opportunity Illinois offers. ”
In response to a growing trend of direct inbound cannaQIX sales inquiries, Creso is officially taking over the reins from its Swiss commercial partner Doetsch Grether
Creso Pharma (OTC: COPHF) announced that the company has brought sales and marketing of its cannaQIX product internally. By doing this, Creso Pharma will be able to significantly improve its profit margin on the product. The move will also set the stage for Creso to expand existing product lines and launch new products such as cannaDOL in Switzerland.
The timing seems to be right, as both the cannabis and psychedelic sectors are definitely looking in Vogue at the moment, following efforts for legislative reform and increased acceptance across the globe
Incannex Healthcare (FROM: IQI) has announced that it will investigate a double listing in the US, a groundbreaking move that will give the drug development company access to the world’s largest pool of capital as it works to develop cannabis and psychedelic-based therapies. Incannex shares reached a near seven-year high after the Melbourne-based company said it had signed EAS Advisors as consultants to introduce it to US banks and institutions. The goal is to achieve a double listing on New York Stock Exchange (NYSE) or the NASDAQ, while preserving one ASX listing.
Total cannabis net sales hovered $ 70.3 million, excluding provisions of $ 2.7 million, an increase of 11% in the second quarter of 2020
Aurora Cannabis (SNEEZE: ACB) released the second quarter financial year 2021 Earnings reports Thursday afternoon. Here is what we learned: Medical cannabis net sales reached $ 38.9 million – an increase of 42% over the second quarter of 2020. This jump was due to a 562% increase in international medical sales by a high margin. Aurora experienced an adjusted EBITDA loss of $ 12.1 million. That is an improvement of $ 53.1 million in the second quarter of 2020.
2. MindMed signs partnership with Swiss psychedelic drug discovery startup MindShift Compounds AG, expands development pipeline and IP portfolio with next-generation psychedelic and empatogenic connections
As part of this partnership, MindMed and MindShift Compounds AG have agreed to develop the next generation of psychedelic and empatogenic drugs together.
MindMed (OTCQB: MMEDF) (FROM: MMQ) announced a new partnership with Swiss startup MindShift Compounds AG to develop and patent the next generation Psychedelic compounds with psychedelic or empatogenic properties. The first initial compounds have already been synthesized by MindShift Compounds AG, and related patent applications were filed by MindMed. MindMed plans to begin Phase 1 clinical trials in the first phase as early as Q1 2022 through its existing clinical trial platform for psychedelic and empatogenic compounds in Switzerland.
Top cannabis analyst Pablo Zuanic’s new estimates reflect Cantor Fitzgerald’s state assumptions
Most American Multi-State Operators (MSOs) according to the S & P500 in the coming year Cantor Fitzgerald analyst Pablo Zuanic. A couple of standouts in Zuanic’s Thursday note about the room include Ayr strategies (OTCQX: AYRSF), Green thumb ((OTCQX: GTBIF) and Jushi Holdings (OTCQB: JUSHF).
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