A shortened week didn't stop the action in the cannabis industry. Several big deals were announced last week, including
CannaRoyalty Corp (OTC: CNNRF)’s purchase of
RVR in an all-stock deal, GB Sciences Inc (OTC: GBLX)’s acquisition of a Nevada operation for all cash, and Liberty Health
Sciences Inc (OTC: LHSIF)’s entry into
Massachusetts.
“This is an exciting development for the industry, as entrepreneurs are able to exit by selling to publicly-traded companies,”
420 Investor Alan Brochstein commented. “I expect we will continue to see a lot more consolidation.”
Senate Majority Leader Mitch McConnell declared his intention to introduce a bill in the Senate to remove hemp from the
controlled substances list, motivated, among other things, by the plant’s potential to replace tobacco crops in his home state.
The United States Marijuana
Index, which tracks 15 of the largest marijuana stocks in the U.S., closed the week almost flat, losing less
than 1 percent in the four working days. The North
American Marijuana Index, which also includes Canadian stocks, was a lot more volatile, posting losses of 4.5 percent.
The Horizons Marijuana Life Sciences Index ETF (OTC: HMLSF) lost roughly 6.55 percent over the four sessions, while the ETFMG
Alternative Harvest ETF (NYSE: MJ) tumbled 3.22
percent. This compares to the SPDR S&P 500 ETF Trust (NYSE: SPY)’s 0.7 percent decline.
Here are some of the top marijuana stocks in U.S. exchanges and how the performed last week:
-
22nd Century Group Inc (NYSE: XXII): up
1.5 percent
-
Aphria Inc (OTC: APHQF): down 8.3 percent
-
Aurora Cannabis Inc (OTC: ACBFF): down
6.9 percent
-
Cannabis Sativa Inc (OTC: CBDS): down 8.1
percent
-
CannTrust Holdings Inc (OTC: CNTTF): down
3.1 percent
-
Canopy Growth Corp (OTC: TWMJF): down 2.7
percent
-
Cronos Group Inc. (NASDAQ: CRON): down
9.75 percent
-
GW Pharmaceuticals PLC- ADR (NASDAQ: GWPH): down 0.2 percent
-
Hiku Brands Company Ltd(OTC: DJACF): down
13 percent
-
India Globalization Capital, Inc. (NYSE: IGC): down 3.5 percent
-
MedReleaf Corp(OTC: MEDFF): down 0.7
percent
-
Scotts Miracle-Gro Co (NYSE: SMG): down
0.5 percent
-
THC Biomed Intl Ltd (OTC: THCBF): down
6.2 percent
-
Zynerba Pharmaceuticals Inc (NASDAQ: ZYNE): down 0.1 percent
In The News
New Jersey got to witness its second NJ Cannabis Symposium, focused on the intricacies of finance, banking, taxation and
investments and how these apply to the state’s expanding cannabis industry. NORML founder Keith Stroup announced the expansion
of the NORML Legal Committee to include not only criminal defense attorneys, but also cannabis business focused esquires.
“NORML’s announcement to expand its Legal Committee to include business lawyers counseling clients around the country is music
to my ears,” said one of the organizers of the event, Ellie O. Siegel of Longview Strategic. “We are at a pivotal moment in the
development of the emerging cannabis industry. We’re seeing gaps between the industry’s business leaders and the incredible
advocacy groups being bridged.
“As New Jersey sets out to expand its Medical Marijuana program and introduce an adult-use program in the not so distant future,
it was wonderful to see business professionals come together to be educated and informed as they enter the space. The goal is to
create a responsible, sophisticated and sustainable market in the Garden State,” she added.
Innovative Industrial Properties Inc (NYSE: IIPR) reported fourth-quarter earnings of 7 cents per share on $2.3 million in
revenue.
CannTrust posted net income of C$6.8 million ($5.3 million) in 2017, versus a net loss of C$13.6 million ($10.5
million) in 2016.
Coffee grower and producer Frinj Coffee announced a partnership with cannabis-focused agricultural
biotechnology company Front Range Biosciences to supply farmers across Central and Southern California with coffee
plants. Front Range Bio will provide Frinj Coffee with more than 3 million coffee rooting cuttings over the next four years.
A consortium of cannabis-related media professionals are conducting a cannabis media survey. You can answer following this link.
Learn more about these news, and others on CV Sciences Inc (OTC: CVSI), GrowGeneration Corp (OTC: GRWG), CannaRoyalty, GB Sciences and ISODIOL INTERNATIONAL ORD (OTC:
ISOLF) at Green Market Report’s Marijuana Money:
Events Calendar
- April 9: Terpenes & Testing Magazine is hosting CNvest: Terps and Tech, an investor gathering focused
on cannabis science and technology companies. The date is in San Jose, California. Check out the 16 cannabis science and
technology startups that made it to the final round of the pitch contest following this
link.
- April 12-14: Compassionate Certification Centers is organizing its second yearly World Medical Cannabis
Conference & Expo in Pittsburgh. The event will include a job fair, exhibits, networking events, courses and panels
featuring more than 70 speakers. Check out the details here.
Picture by Javier Hasse.
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