The 7 Hottest Cannabis Stocks To Watch This Week

VLNS partners with the Arthritis Foundation in campaign for roll-on CBD

Mar 14, 2022 at 12:12 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, and look at how the cannabis industry is evolving as we make our way through 2022.

The world of cannabis saw massive growth in 2021 and 18 states plus D.C. officially legalized the adult-use of cannabis by the end of the year. Thirty-one states plus D.C. had taken decriminalization measures regarding cannabis by the end of 2021. As of late 2021, marijuana is classified at the U.S. federal level as a Schedule I substance under the Controlled Substances Act. In other words, cultivating, distributing, and possessing cannabis remains illegal at the federal level.

In addition, here is a quick summary of the major (and action-worthy!) cannabis stock news from this week:

On Monday, March 7, AFC Gamma Inc (NASDAQ:AFCG) expanded its senior credit facilities with three existing borrowers: Verano Holdings, Devi Holdings, and Natrabis. According to AFCG, “We are pleased to have expanded upon our existing credit facilities with three strong borrowers to provide additional capital as they expand their businesses in new and existing states.”

Tilray Inc (NASDAQ:TLRY) announced a new product launch on Tuesday, March 8, featuring Good Supply Hash Bats, the company's infused cannabis pre-rolls. According to TLRY, "We're excited to introduce our take on infused pre-rolls to the Good Supply portfolio, which continues to provide our best-selling 'good weed' to Canadian consumers with its roster of high potency products."

Green Roads, subsidiary of Valens Company Inc (NASDAQ:VLNS), announced on Tuesday, March 8 that it had donated $120,000 and become an official sponsor of the Arthritis Foundation. The donation was provided to support the Arthritis Foundation's pain management initiative and address the chronic pain of arthritis. In coordination with this donation, Green Roads announced the launch of an Arthritis Pain Relief Roll-On which is an over-the-counter product specifically designed to relieve arthritis pain. 

U.K. based High Tide Inc (NASDAQ:HITI) subsidiary Blessed CBD announced on Wednesday, March 9 it has officially entered the German CBD market via online sales of its full spectrum CBD oils, gummies, capsules, creams and balms that are fulfilled by High Tide's Amsterdam-based warehouse. As Germany represents the largest CBD market in Europe, its expected that the demand for the highest quality CBD products will significantly increase in coming years.

Pure Sunfarms -- a Village Farms International Inc (NASDAQ: VFF) subsidiary -- announced on Wednesday, March 9 that it has received EU GMP certification from Bezirksregierung Düsseldorf for its Delta 3 cannabis production facility located in British Columbia. With this EU GMP certification, Pure Sunfarms can now export EU GMP-certified medical marijuana to international markets requiring EU GMP certification. According to the CEO, "Our ability to now export our cannabis products to the EU and other international markets that require EU GMP certification provides an incremental revenue stream in addition to the strong growth that we continue to expect in Canada in 2022 and beyond."

On Thursday, March 10, Incannex Healthcare ADR (NASDAQ:IXHL), announced the preliminary analysis of results from its phase 2 clinical trial focused on the treatment of obstructive sleep apnea using a novel cannabinoid combination product, IHL-42X. According to IXHL’s Chief  Scientific Officer, “We are delighted that IHL-42X has demonstrated efficacy and good safety characteristics in our preliminary assessment of data from the proof-of-concept trial. IHL-42X has the potential to reduce disease severity, resulting in improved sleep quality, multiple major health benefits and increased quality of life.”

Greenlane Holdings Inc (NASDAQ:GNLN) announced cost-cutting measures on Thursday, March 10. GNLN's goal is to save $8 million through a strategic reduction of its work force. This and other cost-cutting measures are part of Greenlane's goal of accelerating its path to profitability.

 

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