The cigarette giant PM is considering adding cannabis to its product range
Welcome back to our weekly series, Schaeffer’s Cannabis Stock News UpdateHere we round up what happened in the world of marijuana stocks last week and look ahead to how the cannabis industry will develop 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.
U.S. lawmakers tabled a bill on April 29 to investigate the effects of state legalizing cannabis and named it the Marijuana Data Collection Act. The aim of this law is to better understand the economic, public health, criminal justice and workplace impacts of medicinal and recreational cannabis.
Here’s a quick recap of this week’s top cannabis stock news:
Akerna Corp (NASDAQ: CORE), an enterprise software developer for the cannabis industry’s first enterprise resource planning (ERP) software technology, reported that April 20th, a popular but unofficial “holiday” celebrating cannabis use, was the highest retail cannabis sales day ever, with sales of approximately $ 111 million for medicinal and adult use. The five-day period around the vacation was over $ 373 million.
Aphria Inc (NASDAQ: APHA), a global leader in cannabis lifestyle consumer products, announced on April 29th that it entered the concentrates category under the Good Supply brand with the introduction of hash, wax and kief.
cbdMD Inc (NYSE: YCBD), a leading, highly trusted brand of cannabidiol, announced On April 29th, Dr. Sibyl Swift hired as the new Vice President, Scientific and Regulatory Affairs.
FSD Pharma Inc (NASDAQ: HUGE) reported A group of affected shareholders sent RUGE shareholders an information circular and a gold proxy for the upcoming annual general meeting and special meeting on May 14th. Affected shareholders are urging to help rebuild FSD Pharma by replacing their current board of directors (with the exception of Anthony Durkacz) at the meeting. They hope to elect and elect five highly qualified and experienced candidates.
According to a Bloomberg report Philip Morris International Inc. (NYSE: PM) is in view of make a leap into the booming marijuana industry with other cigarette manufacturers. CEO Andre Calantzopoulos said the company was evaluating factors such as toxicity and effectiveness.
HEXO Corp (NYSE: HEXO) announced On April 28th, its flagship cultivation campus in Masson-Angers received the GACP certificate from the Control Union Medical Cannabis Standard, which is the leading certification standard for the cultivation of medical cannabis.
Pyxus International (PYX), a global agricultural company, announced On April 29, one of its indirect subsidiaries entered into a fixed term loan credit agreement with Pyxus and some of its other subsidiaries. The loan agreement provides for a $ 120 million delayed-term credit facility with an expiration date of July 2022.
Sundial Growers Inc (NASDAQ: SNDL) announced on April 23 that it nearly doubled its commitment to SunStream Bancorp Inc. from its previously announced commitment of $ 100 million to $ 188 million.
Tilray Inc (NASDAQ: TLRY), a global pioneer in cannabis research, cultivation, production and distribution, announced on April 27th that it was included in TIME’s opening list of 100 Most Influential Companies. The new list shows 100 companies that are making extraordinary impacts around the world.
22nd Century Group Inc (NYSE: XXII), a leading plant-based biotechnology company focused on tobacco damage reduction, low-nicotine tobacco, and hemp / cannabis research; announced on April 26 that it completed an order for 3.6 million of its research cigarettes with variable nicotine content for independent scientific study.