Last Week's 7 Biggest Cannabis Moves

YCBD making big moves on the cannabis therapeutics front

Mar 22, 2021 at 12:59 PM
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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 last week, and look ahead to how the cannabis industry will continue to develop in the 2021.

    Investor interest in the cannabis industry is growing at an explosive growth rate, and the leading players continue to break through legal barrier after legal barrier, especially in the United States. More than 40 U.S. states legalized recreational and/or medical marijuana by the end of 2020. Now, more and more companies are starting to see the opportunity in cannabis cultivation, marketing, distribution, and technology.

    Schaeffer's Investment Research was honored to be included in Benzinga's Cannabis Capital Conference at the end of February. You can catch the full segment by our very own Senior Market Strategist Matthew Timpane CMT, on Facebook (FB). You can also check out this post if you are interested in more of the cannabis stocks we are watching here at Schaeffer's.

    Here is a quick roundup of major cannabis stock news this week:

    cbdMD, Inc. (NYSE:YCBD), one of the leading and most highly trusted and recognized cannabidiol (CBD) brands, announced on March 15 that it has launched cbdMD Therapeutics LLC. This is a newly formed wholly-owned subsidiary of cbdMD, to isolate and quantify the company’s ongoing investments in science related to its existing and future products. This includes research and development activities for therapeutic applications.

    Greenlane Holdings, Inc. (NASDAQ:GNLN), one of the largest global sellers of premium cannabis accessories, child-resistant packaging, and specialty vaporization products announced the launch of VIBES™ Organic Hemp Rolling Papers and Cones Collection on March 17. VIBES Fine Rolling Papers is a joint venture between Greenlane and Berner—influential rapper, serial entrepreneur, and founder of Cookies.

    HEXO Corp. (NYSE:HEXO) reported its financial results for the second quarter fiscal 2021 on March 18. Total net revenue increased to $32.8 million, up 94% year-over-year and revenue was up 12% from the first quarter of fiscal 2021.

    Innovative Industrial Properties, Inc. (NYSE:IIPR), the first and only real estate company on the New York Stock Exchange (NYSE), focused on the regulated U.S. cannabis industry, declared on March 15 a first-quarter 2021 dividend of $1.32 per share of common stock. The dividend is equivalent to an annualized dividend of $5.28 per common share. It is the 10th dividend increase since IIPR completed its initial public offering (IPO) in December 2016.

    Intec Pharma Ltd. (NASDAQ:NTEC) announced on March 16 that it has filed its annual report on Form 10-K for the year of 2020 with the U.S. Securities and Exchange Commission. A copy of the annual report is available on Intec Pharma’s website, www.intecpharma.com, by selecting “Investors” and then “Financials” and “SEC Filings.”

    Sundial Growers Inc. (NASDAQ:SNDL) reported its financial and operational results for the full year and fourth quarter on March 17. Sundial Growers announced the completion of financial restructuring and eliminated $227 million aggregate principal amount of debt during 2020. Gross revenue increased by 10% to $73.3 million in 2020 year-over-year.

    Village Farms International, Inc.(NASDAQ:VFF) announced its financial results for the three months and year ended at the end of 2020 on March 16. Village Farms International achieved 28% sequential quarterly growth and 248% year-over-year growth in retail branded sales to provincial distributors to $15.5 million, following sequential quarterly growth of 40% from the second to the third quarter of 2020.

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