11 Blazing-Hot Cannabis Stocks Making Headlines This Week

A full round-up of major pot stock news from the last five day trading week in 2020

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Welcome back to our weekly series, Schaeffer's Cannabis Stock News Update, where we recap what happened in the world of marijuana stocks this past week and look ahead to how the cannabis industry will develop in the new year.

Investor interest in the cannabis industry continues to grow, and the leading players continue to break through legal barrier after legal barrier. More than 40 U.S. states have legalized recreational and/or medical marijuana. As such, more and more companies are starting to see the opportunity in cannabis distribution, suggesting there are many more marijuana initial public offerings (IPOs) on the horizon for the marijuana stock industry.

In New Jersey this week, lawmakers passed a bill regarding the recreational marijuana marketplace. The legalization of recreational cannabis goes into effect on Jan. 1, with recreational cannabis is expected to be available in the state within approximately six months. The latest bill primarily dealt with how recreational marijuana would be taxed and how that money would be used. According to the New Jersey Senate President, Steve Sweeney, "This is a historic reform that will have a real-life impact on social justice, law enforcement and the state’s economy. It will launch a new cannabis industry with the potential to create jobs and economic activity at a time when it is desperately needed. We will now be able to move forward to correct social and legal injustices that have had a discriminatory impact on communities of color at the same time that marijuana is regulated and made legal for adults.”

Here is a quick roundup of a major cannabis stock news last week (Dec. 14 through Dec. 18):

Aphria Inc. (NASDAQ:APHA), a leading global cannabis company inspiring and empowering the worldwide community to live their very best life, and Tilray, Inc. (NASDAQ:TLRY), a global pioneer in cannabis research, cultivation, production, and distribution, announced on Dec. 16 that they have entered into a definitive agreement to combine their businesses and create the world’s largest global cannabis company based on pro forma revenue. We took a look at the options activity surrounding both equities and analyzed how each stock has been performing on the charts of late.

Aurora Cannabis Inc. (NYSE:ACB), the Canadian company defining the future of cannabinoids worldwide, provided a business update on Dec. 16. Credit facility terms improved including maturity extension to December of 2022. $450 million of cash on balance sheet & improving cash flow positions the company to see sustainable, long-term revenue growth. As part of this business update, Aurora also announced the closure of its Aurora Sun facility, resulting in the laying off of approximately 200 employees.

FSD Pharma Inc. (NASDAQ:HUGE), announced on Dec. 15 the dosing of the first patient in its Phase 2a clinical trial of FSD201 for the treatment of hospitalized patients with COVID-19.

HEXO Corp. (NYSE:HEXO), reported its quarterly earnings results for its fiscal first quarter of 2021 on Dec. 14. Gross revenue of $41.3M CAD, the highest in the company’s history, increased 14% over last quarter, and increased 114% year-over-year. Net revenue was reportedly $29.5M CAD for the first quarter, up 9% over last quarter and represents a 103% year-over-year.

Innovative Industrial Properties, Inc. (NYSE:IIPR) is focused on the regulated U.S. cannabis industry, and announced on Dec. 18 that it closed on the acquisitions of property in Georgetown, MA and a property in Olympia, Washington, which collectively comprise approximately 181,000 square feet of industrial space.

Organigram Holdings Inc. (NASDAQ:OGI), a leading licensed producer of cannabis, announced on Dec. 16 that it was launching its Trailblazer Spark, Flicker, and Glow 510-thread Torch vape cartridges in a new 1g format.

Sundial Growers Inc. (NASDAQ:SNDL), announced on Dec. 15  that the company has prepaid $50M CAD of its outstanding principal under its senior secured non-revolving term credit facility to further improve its balance sheet.

22nd Century Group, Inc. (NYSE:XXII), a leading plant-based, hemp/cannabis research, announced on Dec. 17 that the company was granted a new U.S. patent related to the control of cannabinoid and terpene production in plants.

Village Farms International, Inc. (NASDAQ:VFF), announced on Dec. 17 the continued expansion of its Cannabis 2.0 offerings, including its first cannabis-infused gummy products based on the propriety technology of White Rabbit OG.

Zynerba Pharmaceuticals, Inc. (NASDAQ:ZYNE), the leader in innovative pharmaceutically-produced transdermal cannabinoid therapies for rare and near-rare neuropsychiatric disorders, provided an update on Dec. 17 on the company's meeting with the Food and Drug Administration (FDA) regarding its Fragile X syndrome (FXS) program. Zynerba plans to conduct a double-blind, placebo-controlled pivotal trial in patients with FXS who have a highly methylated FMR1 gene to confirm the positive results observed in this population of responders in the CONNECT-FX trial.

 

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