Staff, Author at Green Market Report - Page 2 of 75

StaffStaffJuly 6, 2020
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8min2381

Editors Note: This is a guest post.

Cannabis and its derivative products are all the rage right now. State after state legalizes its recreational use and dispensaries all over the country are making loads of money. The medicinal aspects of the plant are also heavily taken advantage of by big pharmaceutical companies, with new, branded drugs being released with cannabis as their primary component. 

Although Canada is at the forefront of the legalization battle, having fully legalized all uses of the plant back in October 2018, the United States is not lagging behind. One of the better examples of this in Nevada, where after the passing of a bill allowing the sales of recreational pot by any licensed dispensary, free delivery of cannabis in Las Vegas drew so many customers in, that many of these businesses were running out of drivers! 

These developments naturally make investors around the world question whether investing in cannabis-related stocks is worthwhile. The weed market is very young, and therefore highly volatile, and therefore susceptible to many ups and downs in the nearest future. It will take an additional couple of years for it to stabilize, which is something you need to keep in mind when planning out your investments

The general trend seems to be that it will continue to grow, as proven by the continuous passing of legislation in countries around the world, liberalizing the restrictions on the stuff. This allows entrepreneurs and investors alike to get creative with their money and come up with exciting new ways to consume and make use of cannabis. 

Experts predict that by 2022, the marijuana market will reach $32 billion — that leaves plenty of room for improvement and growth, making weed stocks a perfectly viable option for investments. You will find the most powerful and stable publicly traded cannabis companies below. 

Canopy Growth Corporation

This Canadian company is a true cannabis giant — back in 2014, it became the first company of its kind to be publicly traded. Back then, it was listed on the Toronto stock exchange and made its way to the NYSE in May 2018. 

Canopy Growth (NYSE:CGC) made the headlines in 2018 when Constellation Brands bought $4 billion worth of their stock. They are an alcohol importer, so you can be sure that there’s a plan of producing branded marijuana-infused beverages in the works. 

Moreover, Canopy was the first Canadian producer to export their dried marijuana to Germany, making it a truly intercontinental corporation. They continue their operations on European soil through a wholly-owned subsidiary that distributes Canopy products to German pharmacies. 

As of recently, Canopy has been aggressively increasing its footprint in the American market, most notably through striking a deal with Acreage Holdings (a US-based major distributor), allowing it to secure a huge market share in the US, by far the largest cannabis market in the world. 

Canopy Growth is by far the most secure option to invest in, as they have proven their global ambitions and increased scope of their operations year after year since its inception back in 2013. 

Tilray 

Similarly to Canopy, Tilray is also one of the largest cannabis-producing corporations in the world. Based in the United States, its scope is even larger than that of Canopy Growth, with Tilray owning subsidiaries all over the globe — they’re exporting to places like Chile and Argentina, but also plenty of European countries, such as Ireland and Switzerland. Tilray has also opened a licensed production facility in Portugal, the only North American company to produce cannabis-based products in the EU. They can be found in pharmacies in most European countries. 

It is also worth noting that while the Asian cannabis market is largely untapped due to extremely strict regulations of the plant in those regions, Tilray has managed to open up limited facilities in South Korea and Japan — as the trend of cannabis laws being liberalized all over the globe continues onto Asia, Tilray will be ready for it, way ahead of other cannabis enterprises. 

If you need any more convincing of Tilray’s might and the influence it wields over the global cannabis industry, there is no better example of it than the fact that its CEO, Brendan Kennedy has become the first-ever marijuana billionaire, with his net worth being estimated at around $2.4 billion. 

The Choice is yours 

Investing large amounts of money into a volatile market should always be done with extreme caution. This is a move that needs to be thought through. Should you invest in one of the big boys, like Tilray and Canopy Growth, or move your money towards a smaller, but more exciting enterprise, such as the various local dispensary chains that are literally popping up like mushrooms after heavy rainfall? 

The choice belongs to you. As for the industry giants, it might be more reasonable to buy Canopy Growth stock, as it is still less developed than Tilray, and their potential is still largely untapped, making it the more exciting option of the two. 

 


StaffStaffJuly 3, 2020
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5min5780

This year the 4th of July falls on a Saturday and that would normally mean big parties and celebrations. However, with the COVID-19 pandemic in full force, fireworks displays have been canceled and beaches closed in many states. The front page of the Houston Chronicle asked everyone to just stay home. What’s open? Dispensaries.

Cannabis software company Akerna (NASDAQ:KERN) said that it expects the essential services of cannabis will continue to benefit as other businesses struggle to open.

“For the first time in the past five years the 4th of July falls on a Saturday,” said James Ahrendt, Business Intelligence Architect, Akerna. “We anticipate sales will start to increase Thursday, July 2, with an 80% increase over daily averages culminating in an 87% increase over average daily sales over the holiday weekend.”

In 2019, when the 4th of July fell on a Thursday, there was a spike in sales the preceding Friday and Saturday, as well as the day leading up to Independence Day. However, not much change in sales the day of.

Sales expectations for the 4th of July. Akerna anticipates:

  • An 87% increase over average daily sales 7/2-7/4
  • Sales will start to increase July 2, with 80% (1.8X) increase on daily average sales for 2020
  • Friday, July 3will be the highest-grossing day of the year surpassing 4/20, which fell on a Monday. Modeling shows July 3 sales will be 100% (2X) increase on daily average sales for 2020.
  • Saturday, July 4, will see elevated sales, similar to Thursday, with 80% (1.8X) increase on daily average sales for 2020

Top Sellers for the 4th of July:

  • Flower 45% of sales
  • Cartridges / Pens 35%
  • Concentrates 11%
  • Edibles 9%

Spending:
The National Retail Federation expects 76% of consumers plan to celebrate Independence Day. Those who do have plans for the holiday expect to spend $76.00 on average in celebration of the 4th of July. The average cannabis order total will be close to $100 and an increase of $11 than the avg order total for all other days this year, which range in the area of $87.12 nationally.

On the Grill:
Historically people spend more than $371 million on chicken during the two weeks leading up to the July 4 weekend, which amounts to about $37 million a day. Cannabis sales are expected to reach over $260 million in three days, which is about $86 million a day.

Historic July 4th Meat Sales:

  • Chicken $371 million
  • Pork $271 million
  • Shrimp $85 million
  • Salmon $48 million


StaffStaffJuly 3, 2020
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8min4100

Editors Note: this is a guest post.

Cannabis can be used in countless ways. It relieves stress, chronic pains, and a wide plethora of other conditions. Besides medicinal uses, people consume marijuana to relax or help them fall asleep. 

The great thing about the times we live in is that it’s an era of marijuana legalization and getting a hold of exactly the type of weed you’re after is easier than ever. If you don’t believe that to be true and you’re in Nevada, just look up Las Vegas Dispensaries and large cities in other legal states are increasingly becoming hotspots for cannabis enthusiasts and entrepreneurs.

One of the most popular misconceptions about cannabis is that it turns you into a lazy, unmotivated couch potato. While it certainly rings true for some of the strains out there, it is worth remembering that there are others, which can fire up your imagination, breathe life into conversations, and expedite the creative process. 

The trick lies in knowing which strain to choose for those particular moments when you are trying to get in the right headspace to get that creative spark going. If that’s what you’re after, be sure to check out one of these six strains listed below. 

Jack Herer 

Named after one of the greatest cannabis rights activists in history, this strain will elevate your mind up to a point where you will be spitting out new ideas one after another. 

Besides the euphoric effect, Jack Herer is a treat to smoke due to its fruity, peppery flavour. Whether you’re enjoying it in the form of a joint or bong hit, it will pack a punch that you will not soon forget. Another advantage is that contrary to other popular strains, Jack Herer leaves you clear-headed without the all-too-familiar dazy feeling one might get after the high goes away. 

Jack Herer was recognized for its inspiring qualities by the international community of enthusiasts, having won numerous awards for its potency and creativity-friendly effects. 

Berry White 

Also known as Blue Widow or White Berry, this particular strain of cannabis is a sativa-dominant hybrid, which already gives away that you’re in for an energizing kick! 

A hit of Berry White will definitely inspire many creative endeavours. Additionally, the high is very balanced, eliminating the risk of increased anxiety and paranoia which is often associated with sativa-dominant hybrids. 

Berry White will leave you energized and ready to create, while keeping your mind focused instead of going all over the place and ruining your experience. 

Tangerine Dream 

Many people in the community will refer to it by Tangie, but regardless of the name it goes by, this strain is recognized and appreciated by artists and other creative individuals. Its main benefits include a long-lasting high — an uplifting experience with just enough relaxing qualities to keep you in the zone for a while.  

What makes Tangerine Dream really stand out though, is its refreshing aroma and an unmistakable, fruity flavor. Aptly named after tangerines, this strain really does bring to mind those delicious citruses. 

Whether you’re a musician, writer, or any other type of a creative soul, Tangerine Dream is definitely a strain that should end up in your stash one day. 

Jillybean 

An incredibly powerful strain with a non-threatening name, Jillybean is the queen of fun. The effects are almost immediate, and the most reported feeling after consuming it is overwhelming bliss and euphoria. 

Jillybean is a favorite of creatives and social butterflies alike, as it enhances the quality of your social interaction and increases empathy for fellow human beings. You can recognize it by the strong aroma of orange with a hint of mango — it’s similar to Tangerine Dream in this aspect. 

This particular creativity-enhancing strain works especially well if you’re in need of a long, uninterrupted session of brainstorming and piecing together your ideas, especially if you’re participating in a collaborative effort!

Kali Mist 

If your creativity is hindered by a lack of energy, then this strain might just be exactly what you’re looking for to boost you up and get those creative juices flowing at a higher rate. 

The perfect pick-me-up strain, Kali Mist’s rejuvenating qualities were oftentimes hailed as “psychedelic” by users, due to its focus-enhancing and ego-crushing abilities. Kali Mist is the perfect choice when you need to open up your mind to new, challenging ideas. 

Be wary of its side effects though — if you’re planning a longer session in Kali Mist’s company, make sure you have enough water to stay hydrated, as this strain is infamous for causing intense cottonmouth in some users. 

LSD 

Although its name may suggest otherwise, the LSD strain won’t make hallucinate or trip out like you would on psychedelics. The similarity lies in the euphoric feeling that comes with smoking this type of cannabis. 

Just like all of the strains listed above, LSD is also a sativa-dominant hybrid, but the characteristic attribute that sets it apart from the rest is the strong, but not overwhelming body high that accompanies the energizing effects. 

 


StaffStaffJuly 2, 2020
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3min4160

A Florida based biotechnology company specializing in the clinical development of psychedelics and analogs is the latest to jump into the quickly growing plant-based medicine field. Psilera Bioscience was launched this month by co-founders Drs. Jackie Salm and Chris Witowski who have 20+ years of combined experience in natural product drug discovery, novel formulations, and are distinguished researchers within the cannabis industry.

“Problems relating to mental health are a growing concern, and the hardships created by COVID-19 have only exacerbated issues with depression, anxiety, and substance abuse,” said Dr. Chris Witowski, CEO of Psilera. “Therapeutic innovations have stagnated in these areas while cognitive disorders such as Alzheimer’s disease also lack effective treatment options. We are only scratching the surface of the medical potential for psychedelics and Psilera’s model of compassion-driven science will enable groundbreaking research to provide new therapies for patients in need.”

Psilera joins a slew of other new companies that have launched in the past couple of years as the excitement over psychoactive mushrooms grows. Psilocybin, the psychoactive ingredient found in some mushroom species, is seen as a treatment for drug-resistant depression. Only a few doses are needed for long-term benefits according to the anecdotal evidence. Psilera said it has accelerated research and development efforts and submitted a provisional patent covering new chemical entities and delivery methods relating to psychedelics.

“Psilera was built with the common goal to create mindful medicine with inspirations from nature and a foundation of innovative science,” said Dr. Jackie Salm, CSO of Psilera. “Our goal is to pave the way for a new era in psychedelics research and truly recognize the potential of these compounds as medicines. This requires detailed assessment of structure-activity relationships and novel ways of delivery. We hope to increase awareness and shift the paradigm to a place of knowledge rather than fear.”


StaffStaffJuly 1, 2020
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8min7010

Editors Note: This is a guest post.

More and more countries decide to legalize cannabis and give entrepreneurs a chance to make money and keep the economy. 

In 2019, the marihuana stocks were supposed to prove their worth on Wall Street by generating steady profits. However, things didn’t go according to the plan. Many investors missed opportunities due to high tax rates and supply issues in the United States and Canada. These obstacles helped the black market to thrive and left marijuana stock investors just heart-broken – no one could predict the government’s roadblocks. 

Despite all these setbacks, some pot stocks still have good market value. Do you want to learn how entrepreneurs legally make money on selling cannabis these days? Just keep reading:

Canopy Growth And Its Bright Start

Canopy Growth Corporation (NYSE: CGC) (also known as Tweed Marijuana) was founded by two friends – Chuck Rifici and Bruce Linton, in 2013. 

In 2019, the company became the largest cannabis company in the world thanks to its value of shares and market capitalization. The company has even survived all challenges in 2019 without losing a single employee. During the crisis, there were 3200 employees in Canopy Growth. 

These days, Canopy Growth is legally selling their products to 16 other countries (Spain, Germany, Australia, Canada, Jamaica, Czech Republic, Chile, etc.). At the end of 2019, the company set up a partnership with a UK-based think-tank called Beckley Foundations, which will allow them to start selling medical cannabis all around the UK as well.

David Klei, the new CEO of Canopy Growth Corporation, says that it is only the beginning of their company. In 2019, they also announced the release of edible cannabis products such as chocolates and beverages. The company might show even more surprises at the end of 2020. Mr. Klei has a point – it is only the beginning.

Curaleaf Holdings and its Cannabis King named Boris 

Curaleaf Holdings (CURLF) is a Canadian company that produces and distributes cannabis-based products around the world. There is one special thing about the company. As the owners of the company state on their website and in numerous interviews, research and advocacy help them to become leaders in the competitive industry.

In 2020, Curaleaf operated more than 57 dispensaries around the US and Canada. No wonder, Boris Jordan, the chairman of Curaleaf, is called a Cannabis King in the American mass media. 

GW Pharmaceuticals 

GW Pharmaceuticals (NASDAQ:GWPH) is a pharmaceutical company based in the UK. It helps to treat patients with multiple sclerosis with the help of natural cannabis. 

In 2018, their cannabis-based products such as Sativex and Epidiolex were approved by the US Food and Drug Administration. We can find their products in London, Prague, and Las Vegas dispensaries

In 2020, the net worth of the company is $3.21 billion. At the moment, the company has its branches in Germany, France, Spain, Italy, and the US. 

Cronos Group

Cronos Group (CRON) is an innovative global cannabinoid company with an office in New York. In 2019, the company received a $2.4 billion equity investment from Altria Group ( the largest producer of tobacco).

Investors consider Cronos Group one of the most cash-rich pot stock in the industry. The company was founded in 2016 and was run by only 2o employees at the beginning. Right now, there are almost 1000 employees in Cronos Group. Mike Gorenstein, CEO of the company, says that they have even more ambitious plans for the future. 

Tilray 

Tilray (TLRY) is another cannabis company that has a great place in the stock market. Tilray is a Canadian pharmaceutical company that has operations in the unites States, New Zeland, Portugal, Australia, Germany, and Latin America. 

All you need to know about Tilray is that it is one of the first medical cannabis producers in North America. 

Once marijuana was legalized in the United States, Tilray was the first cannabis company legally exporting their products to Americans. The company debuted on the Nasqad Stock Market with $17 per share.

In 2018, the price increased to $214 per share. However, the crisis in August 2019 brought Tilray’s founder Brendan Kennedy back to Earth – the price crashed to $29 per share. Despite such a failure, the company is still afloat, with the capital of $1.18 billion. 

The Bottom Line 

The cannabis industry is growing rapidly around the world. We might expect even more companies on the market in the near future. However, at this point, entrepreneurs need more support from the government. 

Politicians might not be interested in helping the pot business. On the other hand, they should be the ones wanting to fight the illegal drug trade. Supporting local cannabis companies will not only help to generate the requisite public revenues and provide jobs but will also help to protect users from poor quality cannabis-based products. 

 


StaffStaffJune 30, 2020
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8min1580

It’s Time for your Daily Hit of cannabis financial news for June 30, 2020. 

On the Site 

GW Pharmaceutical 

GW Pharmaceuticals plc (NASDAQ:GWPH) has pushed the legalization of cannabis ahead with its work on the drug Epidiolex. Now the company is making its plans for its other cannabis drug Sativex known and it’s impressive and hopeful. 

The company is announcing its plans for its pipeline product nabiximols to the U.S. market. This strategy includes multiple opportunities for the submission of an initial New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA), the earliest of which could occur in 2021. 

Zynerba 

Some drugs work and at other times they don’t, which is the whole point of testing and the importance of trying to find solutions to patient conditions. Unfortunately for Zynerba Pharmaceuticals, Inc. (ZYNE) its latest top-line results from the 14-week pivotal CONNECT-FX (Clinical study of Cannabidiol (CBD) in Children and Adolescents with Fragile X) trial failed to produce the necessary threshold for positive results. The stock was selling off as a result of the news. 

IIP & GrowGen 

Cannabis investors remain hungry for stock as long as the company is one with solid and consistent revenue. It seems GrowGeneration Corp. (NASDAQ: GRWG) and Innovative Industrial Properties, Inc. (NYSE: IIPR) are two such companies. Both priced and upsized offerings today. 

HBO Max 

HBO Max has become the latest production company to use cannabis products as a marketing tool. The company is partnering with Sunderstorm’s Kanha Cannabis Infused Gummies and online cannabis marketplace Eaze to launch a collection of character-inspired CLOSE ENOUGH edibles. 

“Close Enough, is a surreal animated comedy about a married couple, their five-year-old daughter, and their two divorced best friends/roommates all living together on the east side of Los Angeles. The series is from the creator  JG Quintel, creator of the Emmy Award-winning “Regular Show” and begins streaming on July 9. 

Paragon Coin 

Coin Telegraph reported that Paragon Coin will face federal claims from a class-action lawsuit alleging that the firm’s $70 million ICO from 2017 violated securities laws. The website said that a Californian federal judge has certified an investor class in a lawsuit alleging that the cannabis crypto firm Paragon Coin Inc violated securities laws in its 2017 initial coin offering (ICO) that raised $70 million. Paragon Coin promoted its ‘PRG’ tokens as a currency for the cannabis industry and hired popular rapper The Game to promote the offering. 

In Other News 

Harborside 

Harborside (OTC:HSDEF)said that its delay in completing the Annual Filings occurred due to the impact of the COVID-19 pandemic. “In addition, as previously announced, the company is relying on the blanket exemptions issued by provincial securities commissions due to COVID-19 to extend the date of filing its interim financial report for the three months ended March 31, 2020 and related management’s discussion and analysis. The Company does not expect to file the Interim Filings before the expiry of the 45-day extension on July 14, 2020.” 

The company said it continues to expect to file the Annual Filings, as well as the financial statements for the fiscal years ended December 31, 2017 and 2018, no later than July 10, 2020 and will apply to have its previously disclosed cease trade order revoked. Harborside said it expects trading to resume on the CSE shortly after the revocation of the CTO. 


StaffStaffJune 30, 2020
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3min1640

Cannabis investors remain hungry for stock as long as the company is one with solid and consistent revenue. It seems GrowGeneration Corp. (NASDAQ: GRWG) and Innovative Industrial Properties, Inc. (NYSE: IIPR) are two such companies. Both priced and upsized offerings today

IIP Upsizes Huge Offering

Innovative Industrial Properties, Inc. (IIP) priced its underwritten public offering of 2,683,363 shares at $83.85 per share for gross proceeds of approximately $225 million. The deal is expected to close on or about July 2, 2020. The underwriters also have a 30-day option to purchase up to an additional 402,504 shares of its common stock.

IIP said it plans to use the net proceeds from this offering to invest in specialized industrial real estate assets that support the regulated cannabis cultivation and processing industry that are consistent with its investment strategy and for general corporate purposes.

According to Yahoo Finance, five analysts cover the stock. Four have a buy rating, while one is at hold. The average target price is $111 and the stock is currently trading near $85.

GrowGeneration Upsizes Offer

GrowGeneration Corp. (NASDAQ: GRWG) priced an underwritten public offering of 7,500,000 shares of its common stock at $5.60 per share. GrowGen said it expects the gross proceeds to be roughly $42 million, before deducting the underwriting discount and other estimated offering expenses. The deal was upsized from the previously announced offering size of $35 million of common stock and is expected to close on July 2. The underwriters have a 30-day option to purchase up to an additional 1,125,000 shares of common stock offered in the public market.

According to Yahoo Finance, five analysts are covering the stock and all have a buy rating. The average target price is $8 and the stock is selling near $6.50. The average revenue estimate for the current quarter is $36 million, an increase of 87% over last year’s sales for the same time period.


StaffStaffJune 30, 2020
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4min9180

HBO Max has become the latest production company to use cannabis products as a marketing tool. The company is partnering with Sunderstorm’s Kanha Cannabis Infused Gummies and online cannabis marketplace Eaze to launch a collection of character-inspired CLOSE ENOUGH edibles.

“Close Enough, is a surreal animated comedy about a married couple, their five-year-old daughter, and their two divorced best friends/roommates all living together on the east side of Los Angeles. The series is from the creator  JG Quintel, creator of the Emmy Award-winning “Regular Show” and begins streaming on July 9.

“Kanha’s partnership with HBO Max is an exciting opportunity to showcase our delicious, award-winning gummies to a brand new audience,” says Cameron Clarke, CEO of Sunderstorm the parent company of Kanha. “We can’t think of a more playful, fun collaboration to announce to our fiercely loyal fans. We’re thrilled to partner with one of entertainment’s biggest media giants to help bring the adult characters in their new show to life through our gummy flavors and profiles.”

The Close Enough collection is inspired by each of the adult characters in the series. The products are marketed in for moods like relax based on the character Josh, get things done like Emily, get lost in thought like Alex, or be a social butterfly like Bridgette.

“It has been so thrilling for my team and I to create a campaign that feels so authentic to Close Enough,” said Peter Sherman, SVP of Program Marketing at HBO Max. “When crafting any campaign, our aim is always to create an experience for the audience that feels genuine and exciting, and this partnership with Kanha hits the nail on the head. We’re so excited about this one and we can’t wait to see how fans react.”

Starting on June 29 and through the end of July, while supplies last, Close Enough Cannabis-Infused Gummies are available at over 20 select, licensed retailers in California. They will also be available for purchase and delivery via Eaze in Los Angeles, San Francisco, and San Diego throughout the month of July, while supplies last.


StaffStaffJune 24, 2020
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5min2840

GW Pharmaceuticals plc (Nasdaq: GWPH) said that the UK Home Office has reclassified Epidiolex, the company’s cannabidiol medicine as a Schedule 5 drug. The company said that the change will take effect immediately in all four of the constituent nations of the UK – with Northern Ireland enacting separate legislation – and sees the medicine move from Schedule 2 to Schedule 5 under the Misuse of Drugs Regulations 2001.

“The decision to move Epidiolex to a low level of control is an important one for patients, their families, healthcare professionals, pharmacists and the NHS as a whole – reducing costs and ensuring the medicine can be dispensed more easily,” said Chris Tovey, GW Pharmaceutical‘s Chief Operating Officer. “The extensive pre-clinical and clinical data that GW developed to support the medicine’s approval by regulatory authorities was pivotal to this important schedule change, and we would like to thank the MHRA, ACMD, and Home Office for scrutinizing this data and making this change in such a short timeframe. We remain committed to expanding the high-quality evidence base for cannabis-based medicines and securing further regulatory approvals because doing so is in the interests of patients and healthcare professionals and can support further rescheduling.”

GW Pharmaceuticals said that the ACMD and its Technical Committee recommended the schedule change to Kit Malthouse MP, Minister of State for Crime and Policing late in January 2020. The medicine is approved in the EU for adjunctive therapy of seizures associated with Lennox Gastaut syndrome or Dravet syndrome, in conjunction with clobazam, for patients from 2 years of age and older.

In its recommendation to the Minister, the ACMD cited the “low risk of abuse potential, low risk of dependency and low risk of diversion” as reasons for the reclassification from a schedule 2 controlled drug to a schedule 5 controlled drug. The ACMD also cautioned that GW’s medicine is “distinct from other commercially available CBD containing supplements that have not sought marketing authorization as a medicine” and that the schedule change, therefore, applies exclusively to Epidiolex

This now means that GW Pharmaceutical’s medicine is now exempt from virtually all controlled drug requirements. At a practical level, patients will have more flexibility in the quantity of medicine they can purchase and be able to order repeat prescriptions. Prior to this, the patients faced restrictions every time they ordered a prescription. The benefits also extend to the pharmacists and pharmacies that will have reduced controls around the storage and reporting requirements.

Analyst Response

JP Morgan Cory Kasimov wrote, “Given the Epidyolex’s favorable efficacy/safety profile, the significant unmet need in these diseases, and positive physician feedback, we believe adoption could be both rapid and substantial,” He believes that near-term label expansion opportunities (Tuberous Sclerosis) and the potential for off-label use in the broader population of general epilepsy patients could contribute significantly to the top line. “A respectable pipeline of additional assets across an array of therapeutic indications and a proprietary research/manufacturing platform should enable the company to sustain further growth” the analyst added. He currently has a $187 price target on GWPH

According to CNN Business, 16 analysts offering 12-month price forecasts for GW Pharmaceuticals PLC have a median target of $188.50, with a high estimate of $260.00 and a low estimate of $150.00. The median estimate represents a +49.97% increase from the last price of 125.69. All 16 analysts have a Buy rating on the stock.


StaffStaffJune 23, 2020
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9min1260

It’s time for your Daily Hit of cannabis financial news for June 23, 2020. 

On The Site 

Aurora  

Aurora Cannabis Inc.  (NYSE: ACB) is the latest cannabis company to destroy the job argument as a reason for legalization. The Canadian cannabis company laid off 25% of Aurora’s SG&A staff, most of those to take place immediately and a roughly 30% reduction in production staff over the next two quarters. The cuts went to the highest levels including a restructuring of the executive leadership team and the recently announced retirement of President Steve Dobler. 

Aurora said it has initiated a plan to close operations at five facilities over the next two quarters in order to focus production and manufacturing at the Company’s larger scale and highly efficient sites. The company will take a charge of $60 during the fourth quarter in order to make these changes. 

Harvest Health 

Harvest Health & Recreation Inc. (OTCQX: HRVSF) said that it has completed the initial closing of certain retail properties in California to Hightimes Holding Corp. as previously announced on April 28, 2020, and June 12, 2020. The deal was recently amended from the original 13 operational and pending properties to ten. Those terms have now been reduced to a deal now valued at $67.5 million. The terms are now $1.5 million in cash and a $4.5 million one-year promissory note with 10% interest and $61.5 million in Series A Preferred stock issued by Hightimes Holding Corp. 

Organigram 

Organigram Holdings Inc.  (NASDAQ: OGI) issued a very brief announcement stating that the company was facing a lawsuit and that it was changing its newly launched Trailer Park Buds brand. Organigram said it wouldn’t comment on the case, which was started in the Court of Queen’s Bench in Alberta. It is a class action case that seeks damages from many cannabis companies including Organigram. 

In Other News 

TILT

TILT Holdings Inc. (OTCQB: TLLTF) reported Quarterly revenue of $42.4 million, up 27% Quarter over Quarter and 23% over Q1 2019. The company reported a positive net income of $50,925.  

“We are pleased to report our Q1 financials, which were driven by strong performances from our well-balanced portfolio of businesses,” said Mark Scatterday.  “Our first quarter revenue was up 27% Quarter over Quarter, and gross margins grew to 27.7%, demonstrating the durability of our business model as we support our customers in their quest to build winning cannabis brands.” 

“With our portfolio of market-leading businesses, TILT is activating multiple revenue streams leading to increased cash flow generation and shareholder value creation.  We are proud of our team’s agility and fortitude in the face of this ever-evolving and challenging environment, and look forward to continuing to build on the solid foundations we’ve established.  We believe that we will continue to move in a positive trajectory as the economy shifts into a more normalized environment.” 

Trading Ceased

The following companies are suspended pursuant to CSE Policy 3. The suspensions are considered Regulatory Halts as defined in National Instrument 23-101 Trading Rules. A Cease Trade Orders have been issued by one or more securities commissions. 

Alternate Health Corp.  AHG  Ontario Securities Commission 
Champignon Brands Inc.  SHRM  British Columbia Securities Commission 
CIM International Group Inc.  CIM  Ontario Securities Commission 
iAnthus Capital Holdings Inc.  IAN  Ontario Securities Commission 
Ionic Brands Corp.  IONC  Ontario Securities Commission 
Sunniva Inc.  SNN  Ontario Securities Commission and British Columbia Securities Commission 


About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


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⁦@KushCo_Holdings⁩ $KSHB Revenue Misses Analysts Estimates As It Drops 46%

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