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StaffAugust 23, 2022


The Daily Hit is a recap of cannabis business news for August 23, 2022.


New Jersey Sales Off to a Hot Start

Customer turnout, cross-border demand drive consumption up in the first three months of legal adult-use sales. A tidal wave of demand for pot in New Jersey is driving promising numbers for operators in the new adult-use cannabis market, according to a report from cannabis data firm BDSA. Read more here.

Ascend Dumps Its MedMen New York Deal

Ascend made pretty negative comments about the New York market in its decision to back out of buying MedMen’s assets. After spending time and money fighting MedMen (OTC: MMNFF) to close on its original agreement to sell its New York assets to Ascend Wellness (OTC: AAWH), the company apparently had buyer remorse. Read more here.

Still No Revenue For Nasdaq-Listed Bright Green

Bright Green posted mixed updates as it moves toward commercialization since moving into the Nasdaq Stock Market as a direct listing. Bright Green Corporation (Nasdaq: BGXX) posted mixed updates as it tries to inch toward commercialization since moving into the Nasdaq Stock Market as a direct listing. The company reported financial results for the quarter ending June 30, 2022. Read more here.

DMT Company GH Research Gives Business Update

GH Research PLC (Nasdaq: GHRS) reported financial results for the second quarter ended June 30, 2022 and gave updates on its business. The company has no revenue at this time and is focused on developing its DMT drugs for mental health issues. The company also said it does not expect to have revenue for several years. GH Research has $265.4 million in cash as of June 30, 2022, compared to $276.8 million as of December 31, 2021. The company said it believes that has enough capital to fund its operating expenses and capital expenditure requirements into 2025. Read more here.

Psychedelic Companies Turn Focus to Resilience

To talk about company resilience in the psychedelics industry is a bit premature. After all, most of the more prominent companies didn’t open their doors until 2016 or later. But it’s the perfect time to build a foundation for resilience while they look to a future of opportunity. Established life science businesses can help show the way. Read more here.


Tilray Brands, Inc.

Tilray Brands, Inc. (Nasdaq: TLRY; TSX: TLRY), a global cannabis-lifestyle and consumer packaged goods company, today announced that its medical cannabis division, Tilray Medical, has received approval and verification from The Natural Health Science Foundation of its flagship product, Tilray Purified Oral Solution CBD100, to be used in clinical trials in Australia and New Zealand. Read more here.

Chalice Brands Ltd.

Chalice Brands Ltd. (CSE: CHAL) (OTCQB: CHALF), a consumer-driven cannabis company specializing in retail, production, processing, wholesale, and distribution, announced today that it has issued the following open letter to shareholders from the Chalice Brands leadership team. Read more here.

Debra BorchardtMay 26, 2022


As the cannabis industry matures, certain patterns are beginning to be established not unlike other retail industries. The one that just occurred is the first-quarter dip in sales. As companies are delivering their first-quarter results, many told investors that sales dipped after the fourth quarter, but that the second quarter was picking up.

Especially companies that have the early jump on New Jersey adult-use sales. These companies have gotten a taste of the impact these sales will have on their companies. They have a pretty good idea that the next few quarters are going to kick butt.

Stock prices for cannabis companies have been pummeled over the last year. Frustrated executives have complained about posting mostly rising revenues only to see the stocks sell-off. Expectations for a strong back half of the year and excessive valuation devastation are combining to create a perfect buying opportunity and these executives are letting their purchases do the talking.



Led by CEO Kim Rivers, a slew of Trulieve executives have bought stock lately. Here’s the rundown:

Executive                       Shares Bought

CEO Kim Rivers             14,000

President Steve White   7,000

CFO Alex D’Amico          1,500

CPO Kyle Landrum         1,250

CSO Tim Morey                700

CLO Eric Powers              1,700

CTO Nilyum Jhala            1,000

CIO Jason Pernell             3,500

IR Christine Hersey          1,000

Columbia Care

CEO Nicholas Vita                    25,000


Chair Jason Wild               18,000


Chair Boris Jordan             566,000 (converted or exchanged)


Despite the potential improvement in stock prices some companies have seen insider selling. Here are some of the big sellers:

Planet 13

East Coast Pres. Michael Jennings       137,400

Ascend Wellness

HR Robin Debiase                                     15,000


In Closing

Many traders believe that insider buying is a signal of a market bottom. These individuals are often considered to be smart money. Vickers Insider Weekly wrote in a note published on Monday, “Corporate insiders have reacted with increasing optimism, expressing confidence that historically has come in advance of notable rallies.”

Debra BorchardtDecember 24, 2020


Editors Note: This is a guest post.

Cannabis as an investment

The cannabis industry experienced exponential growth between 2014-2018, becoming a billion-dollar industry. During that time span, plenty of cannabis companies went public in Canada, as well as the major US exchanges like NYSE and NASDAQ. They’ve managed to attract significant funding from investors, which means there was a broad audience believing in the potential of the industry.

Increased media attention and investors’ enthusiasm pushed cannabis stocks higher, but things started to settle during 2019 and 2020, when a temporary loss of confidence occurred, mainly due to reduced profitability, as is expected with any new industry.

Since cannabis stocks were so volatile on the upside and the downside, trading CFDs on these assets had become a popular activity, considering that multi-asset brokerages such as are now covering all the top cannabis-related stocks.

Now that the initial enthusiasm had settled, rampant growth switched to the backseat and investors are focusing on the fundamentals, looking after profitability and positive balance sheets. If most of the cannabis-related companies experienced high profits and big losses afterward, some emerged as leading names, managing to generate confidence among investors.

Top 3 Cannabis stocks

Cronos Group Inc (NASDAQ: CGC) is an innovative global cannabinoid company, with international production and distribution across five continents. Committed to building disruptive intellectual property by advancing cannabis research, technology, and product development, the company has a passion for customer experience. Listed on the NASDAQ, its stock is currently valued at $7.34, trading in positive territory for 2020, after several ups and downs throughout the year.

A Canadian licensed cannabis producer and listed on the Toronto Stock Exchange, Aurora Cannabis Inc (NASDAQ: ACB) is a company with eight licensed production facilities, five sales licenses, and operations in 25 different countries. With a funded capacity of 625,000 kilograms of cannabis production per year, it is currently among the largest companies in the industry. The ACB stock is trading for 9.39 CAD, down on the year, but posting increased volatility.

Aside from the companies fully focused on the cannabis industry, there are plenty of large players interested in the field. One of them is AbbVie (NASDAQ: ABBV), also known as Abbott Labs. Currently the 9th largest pharmaceutical company in the world by revenue, it has filed for more than 50 cannabis-related patents in the USA, more than any other company, according to a report published in 2019. Currently valued above $100, the AbbVie stock benefits from increased investor attention.

Considering all these companies are publicly listed, there are plenty of different trading instruments available for retail traders, including CFDs. The CFDs on cannabis stocks offer is one of the most trusted, due to the solid reputation of the trading brand.


With many large companies investing in cannabis-related research and product development, the industry still has growth potential. Retail traders and investors can take advantage of both rising and falling markets thanks to trading instruments such as CFDs, providing tight trading costs and optimal liquidity. As cannabis-related therapeutics are embraced globally and regulation is put into place, investors can join the industry without having to worry about compliance.

CFDs and spread bets are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.9% % of retail investor accounts lose money when trading CFDs and spread bets with this provider. You should consider whether you understand how CFDs and spread bets work and whether you can afford to take the high risk of losing your money.


StaffMarch 18, 2020


Editors Note: This is a guest post by Maria Hills. 

The coronavirus has had a big impact on the world’s economy, and even more so on the financial cannabis market. While the S&P Index has seen a 17% drop, various marijuana companies have experienced a drop of 30% and more. Of course, this raises the question of whether it’s a good time to buy cannabis stocks right now, and if there’s any chance of finding a bargain.

Covering Your Concerns

There are a number of different reasons why cannabis stocks have been hit particularly hard due to coronavirus. One of the biggest reasons is because they’re a high stakes investment, to begin with – it’s still rare for a marijuana company to turn a comfortable profit. This is also despite the fact that many American states have legalized cannabis. Another issue around investing in cannabis stocks is financing. No matter what the end of the tunnel looks like with coronavirus, one thing’s for sure is that they’ll be less investment channeled into asset classes like cannabis with a high risk. Cannabis companies were already having issues finding good investment sources before the outbreak hit.

There’s also the concern that the impact that the virus has had on China’s economy so far will spread its reach to the marijuana industry, too. Like many industries, the cannabis industry relies on China as the main manufacturing hub, especially when it comes to vaping products. The last reason why there is concern around an investment like this is consumer spending – or lack thereof. Many people will restrict spending on non-essential goods, which will hit industries like cannabis the hardest.

The Damage is Contained

For the most part, these concerns are so far exaggerated. While the legal environment in America still isn’t where it needs to be, more and more states are moving toward legalization, which is great news for the industry. As for China’s economy, there is more than one way to consume cannabis, so not all companies have to rely on China’s manufacturing facilities to keep producing their products. When thinking about consumer spending, for some purchasing cannabis isn’t a non-essential – it’s an integral part of their medical management plan. The only real valid concern here is financing – there’s every chance that pot companies will continue to struggle to get the funding they need, which most rely heavily upon. If you can get over this little hurdle, though, purchasing cannabis stocks in a dip like this has every chance of paying off.

Investing in the Right Company

It’s not easy finding the right marijuana company to invest in, but one thing that you do want to figure out before you take the leap is that your finances are in order. If you need a bit of a boost to make the most of this opportunistic gap in the market, consider options like personal or title loans. Short-term loans like this are great for initial investments and can be paid back at your leisure. Ignore the fear-mongering in the media, and take the leap into what could end up being one of the most successful alternative medicine industries we’ve seen – ever.

Kaitlin DomangueJanuary 28, 2020


Emerald Health Therapeutics (TSXV: EMH; OTCQX: EMHTF), referred to as “Emerald” for clarity, is a Canadian cannabis company offering wellness-oriented and recreational cannabis products. Emerald provided an update yesterday on their recently announced a shares for debt transaction with Emerald Health Sciences, (“Sciences”) a control person for Emerald. 

Presently, Emerald carries an aggregate debt of $2,816,963. Per a previously disclosed loan agreement between both parties, Emerald will settle $794,182 owed to Sciences, as well as $2,022,781 owed to Sciences pursuant to trades payable. Emerald Health Therapeutics will also issue 9,713,666 common shares of Emerald to Sciences at $0.29 per share in order to fulfill the debt.

Currently, Sciences holds roughly 29,687,942 of Emerald’s issued shares and upon the completion of the debt settlement, Sciences will hold approximately 23.1% of the issued and outstanding shares of Emerald, on an undiluted basis.

Due to Sciences being a control person of Emerald, the settlement is considered to be a “related party transaction”, meaning the companies had a pre-existing connection prior to the transaction.

Emerald is not the only company in a cash crunch, and relying on selling common shares to stay above water. MedMen has also been making the headlines for a similar situation. The company recently sent out emails to their vendors stating they cannot pay them, and are offering shares in their company instead.

Green Market Report talked to Adam Bierman, the CEO of MedMen, about their circumstances. Bierman tells us, “We’ve been very forthright with the public, and with our investment community at large about the fact that at the end of last year we entered into a restructuring in the business, exiting the hyper-growth stage of the business, and getting into sustainability, and with that, there’s a lot of pain. And that pain starts at the employees that were on this mission with us, building this platform with us that we had to part ways with.”

StaffSeptember 4, 2019


Editors Note: Guest post by  Matt McCall, Editor, MoneyWire Aug 29, 2019, 4:45 pm EDT

Let me be clear: I try to limit emotions when it comes to investing. I’m a research fanatic, and I always go first to the big-picture trends, data, and face-to-face conversations.

But I’ve also learned not to ignore my gut feelings, especially when they have data to back them up.

That wasn’t always the case. Like anything else, my “gut” has gotten better the longer I’ve invested. After 20 years in this business, my intuition tends to be correct.

I have a very strong gut feeling right now, and it’s related to the big opportunity in marijuana stocks.

I have been recommending marijuana investments since 2014, well before most analysts. Many of my early recommendations have soared hundreds … even thousands of percent. A colleague of mine even refers to me as “The Original Marijuana Stock Bull.”

Recently, though, some may have questioned my bullish thesis. My long-term view has never wavered, but marijuana stocks have gotten hammered in the last few months. Since hitting a yearly high in March, the ETFMG Alternative Harvest ETF (NYSEARCA: MJ) is down 40%.

The weakness has turned even some of the biggest marijuana bulls into doubters, but I think the current pullback represents one of the best buying opportunities we may see for some time if you want to invest in one of the fastest-growing sectors in the world.

That’s why I tweeted this last week:

“Are we supposed to use our feelings and emotions in investing?” someone replied. “Hope it turns out right for you.”

That’s why I wanted to write about this subject. I was sharing a feeling I had at a moment when I didn’t have a lot of data at my fingertips. But there are strong indicators to back up my gut feeling.

Take a look at the chart of the EFTMG Alternative Harvest ETF below. Notice how the ETF is near a double bottom at its December low just above $23. A double bottom is a bullish pattern and usually signals a reversal to the upside.

Then there’s the relative strength index (RSI), located at the bottom of the chart. The RSI measures overbought and oversold conditions. A reading above 70 indicates a stock is overbought, while a reading below 30 indicates that it is oversold.

You can see how many times MJ has bounced when the RSI got down to 30, and it is now just below 26. That’s a strong signal that the recent selling is overdone.

It also puts the ETF extremely close to an RSI Crossover, which is when the indicator crosses back above 30 into neutral territory. This is one of my favorite technical buy signals. I’ve made good money over the years thanks to it.

The Upside Is Endless

There is so much negativity in the marijuana sector right now that even some of the long-term bulls have joined in on the selling. That short-sightedness costs them. Every high-growth, early-stage investment theme sees times of both parabolic rallies and sizeable pullbacks.

This happened on the internet … biotech … emerging markets … you name it. And it’s what we’re seeing now with marijuana.

But history shows that these are the BEST times to buy.

I’m not trying to call a bottom — that’s not only irresponsible, but it’s also nearly impossible and just plain foolish. But I am saying there is a lot more upside in the best cannabis stocks than downside.

According to Arcview Market Research and BDS Analytics, global sales of legal marijuana will increase from $10.9 billion in 2018 to $40.6 billion in 2024. Where else can you find an industry that is expected to grow 272% in six years?

The majority of those sales will come from North America, but here’s the kicker. Those projections assume that marijuana will remain federally illegal in the U.S. You know that I firmly believe legalization is coming far sooner than most expect, which means those estimates are too low and could, in fact, be closer to $60-$80 billion.

According to Echelon Wealth Partners, the legal cannabis market in the U.S. alone could be worth $60 billion if the federal prohibition is repealed. To put that into perspective, the vitamin/supplement market is worth $28 billion and the beer industry is worth $110 billion.

So don’t get caught in the herd of doubters running for the hills. The long-term story is intact, and today is the day to buy. Not tomorrow … not next month … not next year. By then, the big money will have already been made.

Matthew McCall is the founder and president of Penn Financial Group, an investment advisory firm, as well as the editor of Investment Opportunities and Early Stage Investor. He has dedicated his career to getting investors into the world’s biggest, most revolutionary trends BEFORE anyone else. The power of being “first” gave Matt’s readers the chance to bank +2,438% in (STMP), +1,523% in Ulta Beauty (ULTA), +1,044% in Tesla (TSLA), +611% in Liquefied Natural Gas Limited (LNGLY), +324% in Bitcoin Services (BTSC), just to name a few. If you’re interested in making triple-digit gains from the world’s biggest investment trends BEFORE anyone else, click here to learn more about Matt McCall and his investments strategy today.

Debra BorchardtJuly 29, 2019


Nextleaf Solutions

Extraction technology company Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF)  said that its common shares will begin trading today on the OTCQB Market. Nextleaf will trade on the OTCQB under the symbol “OILFF” and the company’s common shares will continue to trade on the Canadian Securities Exchange under the symbol “OILS”. Nextleaf owns a portfolio of issued and pending patents pertaining to the company’s unique, industrial-scale process of extraction and purification of cannabinoids.

“We are excited to begin trading on the OTCQB which will improve liquidity and allow us to introduce Nextleaf – the first public company to be issued multiple U.S. patents for the industrial-scale extraction and purification of THC and CBD – to a broader audience of U.S. institutional and retail equity investors,” said Paul Pedersen, CEO and Co-founder of Nextleaf Solutions. “Listing in the United States on the OTCQB is an important step for Nextleaf as we build on our vision to revolutionize extraction and purification with superior throughput, yield, and purity to enhance cannabis oil economics across the globe.”


Special Purpose Acquisition Company (SPAC) KBL Merger Corp. IV (NASDAQ: KBLM) signed a definitive agreement for the merger of a wholly-owned subsidiary of KBLM with CannBioRx Life Sciences Corp., a drug development company focused on treating inflammatory diseases. It began trading last Friday as a NASDAQ-listed cannabis biotech.

CannBioRx said in a statement that it has three synergistic programs that operate at the intersection of the biotech and cannabis industries:

  • A clinical-stage program focused on the discovery and development of novel therapies to treat fibrosis. This fully enrolled Phase 2b program expects results in Dupuytren’s disease during the fourth quarter of 2020.
  • A preclinical cannabinoid program focused on the development and commercialization of unique pharmaceutical-grade cannabinoids for arthritis, pain, diabetes, and obesity.
  • A preclinical program developing innovative, orally available therapies harnessing the brain’s nicotinic receptors to treat inflammatory diseases, such as ulcerative colitis, gout, and multiple sclerosis.

“These three unique programs will enable us to efficiently target several key pathways in inflammation and capitalize on two decades of extensive scientific research on the relationship between cannabinoids and inflammation,” said Prof. Sir Marc Feldmann, Founder, and Co-Chairman of CannBioRx. “We believe that the use of synergistic combination therapies across our programs could be important for providing cost-effective healthcare in the future. We also believe that creating an entity and robust pipeline in each of its programs diversifies our risk. We are a global company comprised of senior scientists affiliated with OxfordStanford and Hebrew Universities. We intend to not only advance drug development and clinical trials for existing programs but also to identify new patent-protected compounds, including novel cannabinoids that expand our therapeutic impact in the industry.”

“Upon the completion of the transaction, we expect to be one of a limited number of NASDAQ-listed companies developing non-plant-touching, pharmaceutical-grade, non-psychoactive cannabinoids. These drugs are intended to provide safer, uniform dosing, according to regulatory agency standards,” added Dr. Marlene Krauss, CEO of KBLM, who will also assume the role of CEO of the combined company. “We believe that CannBioRx’s distinctive position is enhanced by the fact that the cannabinoid program is being developed in tandem with its other novel drug development programs that are also focused on inflammation. The programs range from pre-clinical programs to a program in a Phase 2b clinical trial. This could potentially provide us with a pipeline of drug candidates in sequential stages of development and addresses what we believe to be large untapped markets.”

StaffMay 24, 2019


Although an unconvincing earnings season has clouded the picture, marijuana stocks still enjoy strong fundamental catalysts

By Josh Enomoto, InvestorPlace Contributor May 16, 2019, 1:00 pm EDT

Since their inception, marijuana stocks attracted significant attention. Due to both investment sentiment – and let’s face it, raw emotions – the cannabis sector absolutely skyrocketed. But now, the segment is attracting attention for failing to live up to analysts’ expectations. Is the honeymoon phase over for weed?

Hardly! While cannabis firms have produced some disappointing results during earnings season, that’s no reason to abandon them. For one thing, the resurgent U.S.-China trade war is incredibly favorable for marijuana stocks to buy. Prolonged tensions will almost surely cause us economic damage. An easy fix here is to legalize weed and fully open the door to a multi-billion dollar industry.

Another reason to stay the course with marijuana stocks to buy is the medicinal-cannabis market. Currently, 33 states have legalized medical marijuana, which is indirectly an indictment against the pharmaceutical industry. As I’ve argued many times before, pharmaceuticals must take at least some responsibility for the opioid crisis. This story alone has converted many people who have realized the benefits of all-natural treatments.

Moreover, medical marijuana is becoming a popular and potentially profitable exported good. We all know that progressive Europe is receptive to cannabis-based therapies. But more shocking is that conservative Asian countries notorious for their draconian anti-drug policies have demonstrated tolerance. Thailand became the first Southeast Asian country to legalize medical marijuana, while South Korea is the first East Asian country to jump onboard.

No matter how you look at it, this development strongly benefits the “botanical” industry. Here are the best three marijuana stocks to buy right now:

Aurora Cannabis (ACB)

Aurora Cannabis (NYSE:ACB) recently issued its earnings results for the first quarter of 2019. Let’s just say the print wasn’t exactly great for ACB stock. Although Aurora Cannabis’ net-revenue haul of 65.2 million CAD exceeded the year-ago quarter’s tally by a country mile, it missed analysts’ consensus target of 67.6 million CAD.

Also, a miss was earnings per share. Wall Street expected a loss of 4 cents per share, but Aurora instead delivered a loss of 16 cents. With such a wide gap, conventional wisdom dictates that you should avoid ACB stock.

Actually, though, even if Aurora Cannabis hit its metrics with flying colors, I wouldn’t pay much attention. Why? Because this is a marathon investment toward an unprecedented sector. As such, you’ll find nearer-term noise. Ignore it.

The key here is that the management is positioning itself for dominance in the lucrative medical-marijuana market. Its acquisition of Whistler Medical Marijuana indicates that the focus is on quality, not quantity. When weak marijuana stocks get flushed out, ACB will remain standing.

Canopy Growth (CGC)

Undeniably, a motivating factor to buy shares of Canopy Growth (NYSE:CGC) is the company’s international presence. Primarily, it puts up a strong showing in the European mainland. Currently, Canopy is pushing both westward and eastward in the region. However, the ultimate prize for CGC stock and others is the U.S. market.

Of course, this is seemingly a pipe dream due to our country’s (misguided) Schedule I classification of marijuana. Still, CGC stock jumped mid-April when Canopy announced a contingent offer to buy out Acreage Holdings (OTCMKTS:ACRGF). Canopy will pay $300 million upfront if the U.S. legalizes marijuana.

Many botanical advocates argue that Schedule I is a relic of the ignorant and racist past. However, it’s still federal law, which means cannabis firms in green-friendly states are still technically at risk.

But thanks to the U.S.-China trade war, I genuinely believe that full legalization is nearing reality. A prolonged conflict with the world’s second-biggest economy will invariably hurt our own fiscal health. That’s why the U.S. has to explore marijuana if they insist on playing hardball with China. If so, look for CGC stock to soar.

Hexo (HEXO)

If you’re like most folks who learned about marijuana stocks to buy late in the game, you’re probably hesitant on exposing yourself to the top-tier names. After all, we see them splattered on investment headlines all over the internet. If that’s you, you might want to check out Hexo (NYSE:HEXO).

For starters, Hexo is an understated name. It generates interest, of course, but not nearly as much as the top dogs. I believe that benefits HEXO stock and is partially the reason why shares have steadily made robust gains. Year-to-date, the cannabis firm’s equity is up over 113%.

That said, HEXO stock has much more upside remaining over the long term. Renowned alcoholic beverage-maker Molson Coors Brewing (NYSE:TAP) has a partnership with Hexo to develop cannabidiol (CBD) infused, non-alcoholic drinks.

CBD recently gained mainstream recognition because it offers the cannabis plant’s health benefits but without levering a negative psychoactive effect. In other words, the compound is a perfect gateway for consumers to try other cannabis-based products.

This is a partnership that provides multiple natural synergies. Even though it’s not quite a household name, you should put Hexo on your list of marijuana stocks to buy.

As of this writing, Josh Enomoto did not hold a position in any of the aforementioned securities.


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