A Week's Worth of Actionable Cannabis Stock News

JAZZ and ANEB made progress in cannabis-related medical research last week

    facebook X logo linkedin

    Welcome back to our weekly series, Schaeffer's Cannabis Stock News Update, where we recap what happened in the world of marijuana stocks and look ahead to how the cannabis industry continues to shape up in 2021.

    Investor interest in the cannabis industry is growing at an explosive 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, companies are starting to see the opportunity in cannabis cultivation, marketing, distribution, and technology.

    Here is a quick roundup of major (and action-worthy!) cannabis stock news from this week:

    ๐Ÿ“ˆ On Monday Village Farms International, Inc. (NASDAQ:VFF) released its Q2 of 2021 financial results. VFF reported a $22.8 million increase in consolidated sales year-over-year. According to Village Farms leadership, a majority of the sales increase is due to the inclusion of subsidiary, Pure Sunfarms Cannabis Co., sales.

    ๐ŸŒ cbdMD, Inc. (NYSE:YCBD) announced an exclusive partnership agreement with IM Cannabis Corp. on Monday, August 9. As part of this deal, cbdMD products will be exclusively imported, sold, distributed, and marketed in Israel by IM Cannabis Corp.  This deal is contingent on a lot of regulatory approvals in addition to CBD being legalized for recreational use in Israel

    ๐Ÿ’ฐ On August 9, Greenlane Holdings, Inc. (NASDAQ:GNLN) released its plans to raise $32 million through a registered direct offering of GNLN shares, priced according to NASDAQ regulations, by August 11. Greenlane Holdings will be selling approximately 10.13 million shares of GNLN while simultaneously selling warrants to buy approximately 6.07 million  shares at $3.16 per share. The warrants have a price of $3.55 per share and can be exercised in the next five years. Don't forget that Greenlane Holdings and KushCo Holdings have a merger agreement on the table that the companies are looking to wrap up.

    ๐Ÿค‘ Turning Point Brands (NYSE:TPB), the producers of Zig-Zag papers, announced the completion of an $8 million strategic investment on Monday. The investment went toward Old Pal, a major cannabis lifestyle brand. This investment will allow Old Pal to expand its presence in existing states and begin to expand into new territory.

    ๐Ÿ’ป Akerna (NASDAQ:KERN), a major contributor to cannabis industry software solutions, released its Q2 of 2021 financial results on Monday. KERN announced a 63% year-over-year increase of total revenue. Software-specific revenue increased by 56% year-over-year.
    ๐Ÿ”ฌ Zynerba Pharmaceuticals  Inc. (NASDAQ:ZYNE), a large cannabis biotechnology company, also released Q2 of 2021 financial results on Monday. ZYNE missed analyst estimates by a margin of $0.04, reporting earnings in negative territory at -$0.25 for Q2 of 2021. Zynerba also posted a net loss for Q2 of $10 million.
    ๐Ÿ›๏ธ Leafly Holdings Inc., a major online marketplace in the cannabis industry, and Merida Merger Corp. (NASDAQ:MCMJ), a SPAC signed an agreement to combine businesses. Once the transaction is completed, the new company's name will be Leafly and is expected to be listed by NASDAQ under the ticker of LFLY sometime in Q4 of 2021.
    ๐ŸŒฟ As a new subsidiary of Scotts Miracle-Gro Company (NYSE:SMG), The Hawthorne Collective, announced it will be lending $150 million to Canadian-based RIV Capital. The Hawthorne Collective, a cannabis-centric entity owned by SMG, is focused on identifying investment opportunities within the cannabis industry and this investment will further that mission.
    ๐Ÿ’Š On Tuesday, the U.K. Medicines and Healthcare Products Regulatory Agency (MHRA) rubberstamped its approval of GW Pharmaceuticals' cannabis-based treatment for of seizures associated with tuberous sclerosis complex (TSC). GW Pharmaceuticals is a subsidiary of Jazz Pharmaceuticals plc (NASDAQ:JAZZ) who simultaneously announced a $4 million research collaboration with Stand Up To Cancer.This research will focus on expanding cannabinoid solutions, focusing on the usage of lurbinectedin in pediatric solid tumors and pan-RAF molecules in RAF- and RAS-mutated solid cancers.
     ๐Ÿ‘ท Agrify Corporation (NASDAQ:AGFY) in conjunction with True House Cannabis LLC announced plans on Tuesday to build a brand-new cultivation facility. Agrify will collaborate on construction of the 22,000 square foot facility and install its Vertical Farming Units. This collaboration is expected to produce $46.3 million in revenue over the next 10 years.
    ๐Ÿญ On August 11, urban-gro, Inc.  (NASDAQ:UGRO) released record-breaking revenue for Q2 of 2021. This marks the fourth straight record-breaking revenue report for UGRO. urban-gro has established itself in the commercial cannabis facilities industry as well as in the Controlled Environment Agriculture (CEA) facilities industry.
    ๐Ÿ’‰ Anebulo Pharmaceuticals, Inc (NASDAQ:ANEB) announced the formation of a scientific advisory board on Thursday, August 12. The founding members of the board both have profound experience in emergency medicine and medicinal toxicology. According to Anebulo's CEO, he looks forward to the board's contributions and "additional SAB members as we progress ANEB-001, our lead candidate for the treatment of acute cannabis intoxication, into a single-site Phase 2 proof-of-concept study."
     ๐Ÿ’ฆ On Thursday, Hydrofarm Holdings Group, Inc. (NASDAQ:HYFM) released its Q2 of 2021 financial results. Net sales results missed estimates by over $2 million despite revenue increasing 47% year-over-year. Hydrofarm Holdings also announced the completion of two acquisitions during Q2 including HEAVY 16 and House & Garden.
    ๐Ÿ’ต Clever Leaves Holdings Inc. (NASDAQ:CLVR) released its Q2 of 2021 financial and operating results on Thursday, August 12. CLVR reported revenue of $3.7 million  which outperformed estimates of under $3.5 million. This revenue marks an 89% increase year-over-year. CEO of Clever Leaves Kyle Detwiler said, "Our second-quarter performance marked sustained progress towards our long-term vision, as we continued to optimize our positioning within the global cannabinoid supply chain."
    โ†—๏ธ Today Agrify Corporation (NASDAQ:AGFY), a provider of indoor growing solutions for the cannabis industry, released its Q2 of 2021 financial and operating results. AGFY announced a 203% increase in revenue year-over-year, clocking in at $11.8 million for Q2 of 2021. 



    Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

    With the markets going left, right, and sideways, you need to have a plan now more than ever. 

    Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

    A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.

    Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!




    Rainmaker Ads CGI