Cannabis Countdown: Top 10 Marijuana And Psychedelic Stock News Stories Of The Week


Welcome to the Cannabis Countdown. In this week's rendition, we'll recap and countdown the top 10 Marijuana and Psychedelic Stock News stories for the week of March 30th - April 5th, 2020.

Without further ado, let's get started.

* Yahoo Finance readers, please click here to view full article.

10. COVID-19 Forces Analysts to Reassess, 8 Pot Stocks with Recent Ratings and Price Target Updates

The COVID-19 Pandemic Has Changed the Game for Nearly Every Cannabis Company

In response to the Coronavirus, many analysts have updated their research on individual Pot Stocks to factor in the virus' impact. Here's a recap of the recent analyst activity including updated ratings and price targets.


9. Aurora Cannabis is a "Piece of Crap", This Fund Manager Says

There Are Many Bargains Out There Right Now But Aurora Isn't One of Them, Says Brian Acker of Acker Finlay

Acker appeared (from home) on BNN Bloomberg's "Market Call" program recently and fielded a call on onetime market darling Aurora Cannabis (NYSE: ACB). His answer to whether or not the beaten-down stock was a buy was a resounding no.


8. MindMed Acquires Exclusive License to Eight Clinical Trials of LSD

MindMed Partners with World-Leading Psychedelic Research Laboratory at University Hospital Basel

The multi-year deal gives MindMed (OTC: MMEDF) access to largest collection of clinical trials & knowhow for LSD psychedelic research including a Phase 2 clinical trial of LSD for the treatment of anxiety.


7. NYSE Aims to Boot CannTrust After Concluding Cannabis Producer 'No Longer Suitable for Listing'

NYSE Said it Reached its Decision After the CannTrust Obtained a Creditor Protection Order from the Ontario Superior Court of Justice

The New York Stock Exchange's (NYSE) regulatory enforcement arm has initiated the delisting process for CannTrust Holdings (NYSE: CTST) after concluding the Canadian licensed producer (LP) "is no longer suitable for listing."


6. Pot Stocks Plunge After Another Round of Disappointing Earnings

Hexo Drops Over 20% After Large Write-Downs, Medipharm Notes Oversupply of Bulk Cannabis Hurt Prices

HEXO Corp. (NYSE: HEXO) led Cannabis Stocks down this week after the company reported Earnings that were hit by huge write-downs. MediPharm Labs (OTCQX: MEDIF) fell as well after the company reported net income of $1.9 million versus a net loss of $3.5 million a year ago. Cronos Group (NASDAQ: CRON) also reported earnings this week.


5. Cronos Group Will Emerge from this Crisis, Raymond James Says

Raymond James analyst Rahul Sarugaser Reviewed Q4 Earnings from Canadian LP Cronos Group

In the analyst's update to clients on Cronos Group (NASDAQ: CRON), Sarugaser said the ho-hum earnings coupled with a hitch in the company's U.S. business are enough to trigger a target reduction, but that the stock is still looking attractive at these prices.


4. Champignon Brands Bolsters Special Advisory Committee + SHRM Technical Breakout Chart Update

Champignon Brands Appoints Jay Kheita to the Company's Special Advisory Committee

Champignon Brands (OTC: SHRMF) announced that it appointed another essential member to its Special Advisory Committee. Mr. Kheita is a founder of AltMed Capital Corp, a leading Canadian Psychedelic medicine clinic operator. Since last week's technical breakout alert, shares of SHRM have surged as much as 77%.


3. Hollister Biosciences Closes Transformational Venom Extracts Acquisition, Psychedelics Deal Up Next

The Highly Accretive Acquisition Strengthens Hollister's Brand Portfolio While Expanding its Footprint Across Multiple States

Venom Extracts brings with it 2019 EBITDA of $2.5 million on revenue of $16.4 million, putting Hollister Biosciences (OTC: HSTRF) on the fast track to becoming a cannabis industry leader in 2020. In addition to becoming a leader in the cannabis sector, Hollister is diversifying into the highly promising world of Psychedelics.


2. FDA Grants GW Pharma Priority Review for Cannabidiol Drug in Seizure Condition

This Status is Usually Granted to Therapeutics That Have the Potential to Treat an Illness That Doesn't Have an Existing Therapy

A drug from GW Pharmaceuticals (NASDAQ: GWPH) targeting a cause of genetic epilepsy has received Priority Review status from the U.S. Food and Drug Administration.


1. These 2 Companies Could Be Turning LSD, Magic Mushrooms, Ketamine and MDMA into the Next Blockbuster Drugs

Investors Who Missed the Last Bull Market in Weed Stocks or Got in Too Late Should Start Researching the "Shroom Boom" Immediately

Early cannabis investors and business minds are positioning themselves in the world of Psychedelic Medicine as the flow of smart money hits the market. Canopy Growth (NYSE: CGC) founder Bruce Linton and Billionaire "Mr. Wonderful" Kevin O'Leary from Shark Tank, are going all-in on what they think is a much bigger opportunity than the cannabis boom.


Image by Stephen VanHove from Pixabay

© 2020 Benzinga does not provide investment advice. All rights reserved.


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