A week shortened by the Fourth of July holiday did not come with a shortage of news.
reported the House Judiciary Crime, Terrorism and Homeland Security Subcommittee will hold a hearing to discuss ways to end cannabis prohibition in the U.S. next week; the Canadian Congress started evaluating an initiative to decriminalize the possession of all illegal drugs for personal use; New Mexico enacted its marijuana decriminalization law; and New Jersey expanded its medical marijuana program.” data-reactid=”19″>A group of scientists are suing the Drug Enforcement Administration seeking a permit to grow cannabis for research purposes; Marijuana Moment’s Kyle Jaeger reported the House Judiciary Crime, Terrorism and Homeland Security Subcommittee will hold a hearing to discuss ways to end cannabis prohibition in the U.S. next week; the Canadian Congress started evaluating an initiative to decriminalize the possession of all illegal drugs for personal use; New Mexico enacted its marijuana decriminalization law; and New Jersey expanded its medical marijuana program.
Marijuana Moment’s Jaeger told Benzinga it is hard to overstate the significance of the House subcommittee meeting.
“Judiciary is such a critical vessel for making the broad changes to federal drug laws that advocates have been fighting for, and this hearing represents one of the first actionable steps toward ending prohibition in this Congress that we’ve seen,” he said.
“Importantly, while details about the hearing are limited, it appears the conversation will be centered on racial justice —something more and more lawmakers recognize is essential to any legalization plan.”
https://tinyletter.com/javierhasse” data-reactid=”23″>If you want to receive this news recap in your email inbox every week, please subscribe to https://tinyletter.com/javierhasse
CGC)’s termination of CEO Bruce Linton.” data-reactid=”24″>In the corporate world, news was dominated by Canopy Growth Corp (NYSE: CGC)’s termination of CEO Bruce Linton.
Mark Zekulin, Canopy’s co-CEO at Canopy, is serving in the role at this time and has been tasked with finding a new leader to help him run the business.
Despite the commotion, Bank of America Merrill Lynch’s Christopher Carey reiterated a Buy rating on Canopy Growth with a $53 price target.
Marijuana Stocks & ETFs
Over the last five trading days, including Friday, June 28:
HMLSF) (TSE:HMMJ) lost 0.6%.” data-reactid=”29″>• The Horizons Marijuana Life Sciences Index ETF (OTC: HMLSF) (TSE:HMMJ) lost 0.6%.
MJ) gained 0.2%.” data-reactid=”30″>• The ETFMG Alternative Harvest ETF (NYSE: MJ) gained 0.2%.
YOLO) rose 0.6%.” data-reactid=”31″>• The AdvisorShares Pure Cannabis ETF (NYSE: YOLO) rose 0.6%.
SPY) closed the period up 1.86%.” data-reactid=”32″>• The SPDR S&P 500 ETF Trust (NYSE: SPY) closed the period up 1.86%.
The following is how top marijuana stocks with market caps above $500 million that trade on U.S. exchanges performed over the last five trading days:
ACRZF): down 8.1%” data-reactid=”34″>• Acreage Holdings (OTC: ACRZF): down 8.1%
KERN): down 33.7%” data-reactid=”35″>• Akerna Corp (NASDAQ: KERN): down 33.7%
APHA): down 2.3%” data-reactid=”36″>• Aphria Inc (NYSE: APHA): down 2.3%
ACB): down 3.3%” data-reactid=”37″>• Aurora Cannabis Inc (NYSE: ACB): down 3.3%
CTST): down 1.6%” data-reactid=”38″>• CannTrust Holdings Inc (NYSE: CTST): down 1.6%
CGC): down 0.4%” data-reactid=”39″>• Canopy Growth Corp (NYSE: CGC): down 0.4%
CRON): down 4.3%” data-reactid=”40″>• Cronos Group Inc. (NASDAQ: CRON): down 4.3%
CURLF): down 2.2%” data-reactid=”41″>• Curaleaf Holdings Inc (OTC: CURLF): down 2.2%
GGBXF): up 12.4%” data-reactid=”42″>• Green Growth Brands Inc (OTC: GGBXF): up 12.4%
TGODF): up 3.2%” data-reactid=”43″>• Green Organic Dutchman Holdings Ltd (OTC: TGODF): up 3.2%
GTBIF): down 4%” data-reactid=”44″>• Green Thumb Industries Inc (OTC: GTBIF): down 4%
GWPH): down 0.2%” data-reactid=”45″>• GW Pharmaceuticals PLC- ADR (NASDAQ: GWPH): down 0.2%
HEXO): down 2.3%” data-reactid=”46″>• Hexo Corp (NYSE: HEXO): down 2.3%
HRVSF): down 2.4%” data-reactid=”47″>• Harvest Health & Recreation Inc (OTC: HRVSF): down 2.4%
ITHUF): down 9.1%” data-reactid=”48″>• iAnthus Capital Holdings Inc (OTC: ITHUF): down 9.1%
MRMD): down 13.7%” data-reactid=”49″>• Marimed Inc (OTC: MRMD): down 13.7%
MMNFF): down 2%” data-reactid=”50″>• MedMen Enterprises Inc. (OTC: MMNFF): down 2%
OGI): up 1.9%” data-reactid=”51″>• OrganiGram Holdings Inc (NASDAQ: OGI): up 1.9%
SMG): up 2.4%” data-reactid=”52″>• Scotts Miracle-Gro Co (NYSE: SMG): up 2.4%
TLRY): up 0.9%” data-reactid=”53″>• Tilray Inc (NASDAQ: TLRY): up 0.9%
In Other News
As a result of the expansion, Akerna’s subsidiary MJ Freeway has increased its footprint to five European countries including Spain, Switzerland and Denmark. Additionally, Akerna announced it opened a Medellín, Colombia office to serve its growing South American footprint.
More details here.” data-reactid=”57″>Medicine Man Technologies Inc (OTS:MDCL) appointed Albertsons Companies veteran Lee Dayton as its chief administrative officer. More details here.
ORVRF) announced it is acquiring certain assets of GreenBloom Cannabis Co. in a transaction valued at more than $29 million. More details here.” data-reactid=”58″>Orchid Ventures, Inc. (OTC: ORVRF) announced it is acquiring certain assets of GreenBloom Cannabis Co. in a transaction valued at more than $29 million. More details here.
“Kaleidoscope was born out of my desire to create the product that simply didn’t exist. I wanted a CBD product that actually worked, was based in science, convenient to consume and had a targeted purpose,” founder Ana Rosenstein told Benzinga.
“CBD is everywhere but the right CBD isn’t. And ultimately, our goal is to provide that for people. We aren’t launching another millennial direct-to-consumer company. We’re launching a product rooted in science that gives people something they desperately want but never knew they needed.”
CRLBF) is making changes to its top management team with the appointment of Mo Dastagir as its chief information officer. More details here.” data-reactid=”66″>Chicago-based cannabis company Cresco Labs Inc (OTC: CRLBF) is making changes to its top management team with the appointment of Mo Dastagir as its chief information officer. More details here.
“The California market is a core part of our growth strategy with a very sizable addressable market that, to put in perspective, is larger than Canada,” said Jushi CEO and Chairman Jim Cacioppo.
Flowhub, a Denver-based inventory management and POS platform for dispensaries, launched its new Stash App, a first-of-its-kind application for mobile inventory management in cannabis. More details here.
“People are looking for guidance around cannabis products, but too often dispensaries just don’t provide it,” Sanders said. “At Canna Provisions, we’re going beyond basic transactions and elevating the standard for cannabis customer service.”
“Willie’s Remedy is all about giving people easy access to the healing benefits of hemp in the same way we look to other plants for wellness,” Annie said. “By expanding our product line to include a topical, tea and decaf coffee we hope to bring this amazing plant to new audiences.”
NXGWF) announced the launch of an exclusive cannabis product line with influential illustrator and artist Junkyard. ” data-reactid=”76″>Next Green Wave Holdings Inc (OTC: NXGWF) announced the launch of an exclusive cannabis product line with influential illustrator and artist Junkyard.
“We’re thrilled to be working with Junkyard and believe his loyal fanbase and individual brand will add further strong impetus to our growth and give us wider access potential to a niche consumer looking for distinguished and quality-based cannabis products,” said CEO and Executive Director, Leigh Hughes.
The artist said a large portion of his fan base appreciates cannabis too.
“Our team is excited to finally launch a premium brand with NGW and SDC. We have been looking for a partner that has the same aesthetic and attention to detail in their craft. It has been a fantastic process working alongside their team. Look out soon for products in California legal dispensaries.”
KSHB) now wants to provide its CBD clients with access to large-scale retail channels, and is doing so by partnering with the full-service consumer products agency C.A. Fortune. More details here.” data-reactid=”80″>KushCo Holdings, Inc. (OTC: KSHB) now wants to provide its CBD clients with access to large-scale retail channels, and is doing so by partnering with the full-service consumer products agency C.A. Fortune. More details here.
More From Benzinga Cannabis
The following are some of the most interesting cannabis-related stories from this week.
• A Mid-Year Review Of Cannabis Use Rates
• CBD Is Invading Over-The-Counter Retail Stores – And Consumers Love It
• More Weed, Less Booze? Researchers Examine Which Way Consumption Goes
• Does Your Dog Freak Out Over Fireworks? Try CBD
• Everything You Should Consider When Traveling With Weed In The US
• Island Cannabis CEO Talks Changing Landscape, Plans To Remain Private
• From Tea To THC: The Heady Rise Of Growpacker’s Stephen Boyd
• You Can Now Get A Graduate Degree In Marijuana At This University
• Fourth Of July Pop, Boom, And Sparkle: Summer Seasonal Stocks To Consider
• Canna Moms And Dank Dads: The Impact Of Cannabis On Mother’s And Father’s Day Gifting
• The Next Wave Of Canadian Cannabis
• Facebook Relaxes Cannabis Ad Policy Just A Tad
• New Jersey Governor Signs Law Expanding Medical Marijuana Program
• RegTalk: California Municipalities Rush To Adopt Hemp Regulations
• As Summer Heats Up, So Too Does Market Buzz About Hemp And CBD Products
• Opinion: Surgeon General Jerome Adams’ Stance On Cannabis Is At Odds With His Responsibility To The Nation
Aug. 17-18: The 9th CannaGrow Expo will take place in Palm Springs, California, featuring more than 35 cultivation-focused educational sessions and an expo hall filled with cannabis-related technologies.
“While others cover getting into the business, CannaGrow features sessions that support the original growers and producers. Patent your genetics. Expand operations efficiently. Market your products correctly. This is how you combat big business, maintain product integrity, and protect craft cannabis cultivation,” said Jessi Rae, COO of CannaConnections, the producers of CannaGrow, DispensaryNext and the Science of Cannabis Summit.
CannaGrow Expo will feature a special Extraction Summit and the popular Grower Networking Roundtables. Pass prices range from $69-$399. For more information and to purchase passes, please visit https://cannagrowexpo.com.
The theme for CBD Expo MOUNTAIN is twofold: compliance and regulation; and investments and business.
The RAD Expo will feature presentations from industry veterans about successful entrepreneurship and topics including merchandising, partnership management, interior store design and retail operations. The 2019 show will focus heavily on CBD products and CBD brands with a presence in health grocery stores, luxury retailers, pet stores and other retail categories that carry hemp-derived products.
The three days are focused on six pillars: medical, business, research, legislation, regulation and fintech. The event will host Malta’s top policymakers, international regulatory experts and global business leaders.