NEPT launched new pre-roll cannabis products in Canada
Welcome back to our weekly series, Schaeffer Cannabis Stock News Update, where we review what happened in the world of marijuana stocks and look ahead as the cannabis industry continues to take shape as we end 2021.
Investor interest in the cannabis industry is growing at an explosive rate, and major players continue to break down 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 beginning to see the opportunity in cannabis cultivation, marketing, distribution, and technology.
Here’s a quick rundown of important (and action-packed!) News about last week’s cannabis actions:
Bright and early Monday morning, Neptune Wellness Solutions Inc. (NASDAQ: NEPT) confirmed the exclusive launch in Canada of Mood Ring’s latest pre-roll cannabis product in January. With the launch of these pre-roll products, NEPT officially offers products in all major categories of cannabis products. According to Neptune, “With sales up nearly 200% annually, pre-rolls have become one of the top three best-selling product categories in Ontario, as consumers are increasingly looking for them for their accessibility and convenience.” .
The actions of Canopy Growth Corp (NASDAQ: CGC) they were down 5.8% Monday morning, after Piper Sandler downgraded CGC to “underweight” from “neutral.” The company also lowered its target price to $ 7 from $ 11, and Piper Sandler specifically noted a number of pressurized sales trends in Canopy Growth’s business.
InMed Pharmaceuticals (NASDAQ: INM) held its general meeting last week which ended with the approval of the election of all the candidates for the board of directors. In more interesting news, INM announced on Monday that a peer-reviewed journal article had been published focusing on glaucoma treatment options using cannabinol.
Later, on December 20, cbdMD, Inc. (NASDAQ:YCBD) published its financial results for the fourth quarter and fiscal year 2021. It is noteworthy that YCBD broke its net sales record after producing $ 44.5 million in fiscal year 2021. While several companies in the cannabis industry fought for movement, cbdMD exceeded industry averages.
The Valens Company Inc. (NASDAQ: VLNS) announced the termination of two collaboration agreements with PMI Mexico. PMI Mexico is one of the Mexican government’s leading suppliers of medicines and, as part of these agreements, VLNS will supply CBD oil and prebiotic products to PMI. Valens CBD products will support ongoing pharmacokinetic medical trials and Valens will also create and distribute CBD-free and infusion-free products in Mexico. According to VLNS, “The relationship we have built with PMI Mexico marks an important milestone for Valens’ international expansion and the beginning of our strategy for Central and Latin America. This agreement diversifies our global strategy and increases our flows of income through creative, non – traditional strategies that separate us from our peers. “
Later in the week The Valens Company Inc. signed an association with Montreal Cannabis Medical Inc. on Wednesday. with the aim of providing MTL pre-roll and vape manufacturing and extraction services. The contract is expected to be launched by the end of the first quarter of next year.
On Tuesday, Organigram Holdings Inc. (NASDAQ: OGI) confirmed its acquisition of Laurentian Organic Inc. for a total of $ 36 million in an agreement aimed at further consolidating OGI’s position in the Canadian cannabis market. The deal will expand Organigram’s portfolio to include artisanal cannabis product lines and premium hash. Committed to significant growth in the hs industry, OGI expects rapid growth in Canada from these newly acquired products.
How Tilray (NASDAQ: TLRY) continued its mission to be ready to shoot in the United States after federal legalization, TLRY on Tuesday announced the acquisition of Green Flash Brewing and Alpine Beer Co. That comes just weeks after Tilray acquired Breckenridge Distillery. The plan behind these alcoholic beverage acquisitions is to focus on scaling these brands that could increase the potential distribution of cannabis products after federal legalization.
* NEW CANVAS STOCK ALERT * Wednesday, BAD ETF (NYSE: BAD) began trading on the New York Stock Exchange. Launched by The BAD Investment Company, this publicly traded fund is an index focused on betting stocks, alcohol and cannabis. According to the founder of BAD Investment Company, “We don’t think social stigma should be a major factor in deciding what a good investment is.”
