OGI launched a new range of products this week
Welcome back to our weekly series, Schaeffer’s Cannabis Stock News Update, where we round up what happened in the world of marijuana stocks over the past week and take a look at how the cannabis industry will perform in 2021.
Investor interest in the cannabis industry is growing explosively, and leading players continue to break legal barriers after legal barriers, particularly in the US. By the end of 2020, more than 40 US states had legalized recreational and / or medical marijuana. Now more and more companies are seeing the possibility of growing, marketing, distributing, and technology cannabis.
In the adjoining previously illegal drug news, a bill to investigate the therapeutic effects of psilocybin and MDMA has been quietly pushed forward by Texan lawmakers. The bill, introduced in February by Texas State Representative Alex Dominguez, aims to instruct the Department of Health and the Texas Medical Board to study psilocybin, MDMA, and ketamine for the treatment of post-traumatic stress disorder (PTSD) and other diseases. The bill was passed by parliament earlier this month. On May 19, the bill received 5-0 approval from the Senate Veterans Affairs and Border Security Committee.
Here’s a quick recap of this week’s key news about cannabis stocks:
Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) announced on May 19 that its board of directors had granted 22 new employees incentive stock options to purchase a total of 74,905 common shares and 32,050 limited liability shares (“RSUs”) May 15.
Aurora Cannabis Inc. (NYSE: ACB), the Canadian company that defines the future of cannabinoids around the world, filed a Prospectus Amendment on May 20 that launched a new off-the-shelf share program that will grant the company up to $ 300 million US dollars may issue and sell US dollars of common stock in the capital of ACB from the Treasury to the public, from time to time at the Company’s discretion.
Canopy Growth Corp. (NYSE: CGC) announced on May 21 that the company is deepening its relationship with Martha Stewart, the consumer product leader and CBD brand leader, as the company’s official strategic advisor. CGC announced that Stewart has been named official strategic advisor to the company. Martha Stewart is the founder of Martha Stewart ‘Living Omnimedia’. Their branded products can be found in more than 70 million US households.
Innovative Industrial Properties, Inc. (NYSE: IIPR) announced on May 19 that its operating partnership, IIP Operating Partnership, LP, is evaluating a private offering with a total face value of $ 300 million of 5.50% senior notes maturing in 2026 Has. The Notes mature on May 25, 2026. Interest on the Notes is payable semiannually on May 15 and November 15 of each year, with the first payment being made on November 15 of that year.
Neptune Wellness Solutions Inc. (NASDAQ: NEPT), a diversified and fully integrated health and wellness company focused on plants, announced on May 17 that Richard Schottenfeld has resigned as director of the company for personal reasons with immediate effect.
Organigram Holdings Inc. (NASDAQ: OGI), a leading licensed cannabis producer, announced the launch of Big Bag o ‘Buds, a range of dried flower products with a list of well-known genetics and an exciting rotation of One-Time Offers (OTO) in 28g format on Aug. May.
Petalfast, a sales and marketing agency for the cannabis industry, announced on May 20 that it had completed a $ 2.8 million capital increase led by Merida Capital Holdings. Petalfast plans to use the proceeds to expand its client portfolio and strengthen its role in supporting established and established cannabis brands for rapid and long-term growth.
Tony Venosa, Senior Market Strategist at Schaeffer’s Investment Research, will present at Benzinga’s Virtual Cannabis Capital Conference from June 3rd to 4th. Schaeffer invites all readers to join Tony and learn more about what cannabis stocks the Schaeffer trading team is watching.