Monday , 13 July 2020


Cannabis Central: Has A Market Turnaround Begun?

Thursday saw the biggest reversal in marijuana stock prices in months with a 1.02% increase on average worldwide. Below are the 40 top winners and 40 top losers with reasons why, where applicable.

By Lorimer Wilson, editor of munKNEE.com – A site for sore eyes & inquisitive minds

As identified above,
  • 10 companies saw there stocks increase by 10% or more on Thursday, the first day of trading in 2020, with 4 advancing in excess of 30%.

While it doesn’t take much for stocks trading under $1/share to appreciate by 30%+ what is more impressive is the fact that:

  • 3 of the top 4 stocks showed positive returns during the month of December as did 9 of the top 10 winners.
On the other side of the coin, 40 pot stocks declined on Thursday with 12 of them declining by 5% or more.
Below are reasons for some of the above activity:
  1. MariMed Inc. (OTCQX:MRMD) stock advanced +37% in response to the company’s news release that:
    •  GenCanna Global Inc. (owned 33.5% by MariMed) has successfully dealt with the majority of the challenges it incurred in 2019 and is well positioned for revenue and related cash flow growth in 2020 driven primarily by their completion of one of the largest hemp harvests in U.S. history (over 14 million pounds of CBD-rich biomass) and the processing of same through their joint venture with a processing facility that uses specialized technology to harvest large quantities of biomass and that this will continue to ensure MariMed’s position as one of the largest producers of GMP compliant CBD oils and isolates in the U.S..
  2. TransCanna Holdings Inc. (CSE: TCAN) stock advanced 14% in response to the company’s announcement that:
    • it has settled an outstanding debt of C$255,000 owing to a consultant through the issuance of 300,000 common shares of the Company at a deemed price of $0.85 per common share.
  3. iAnthus Capital Holdings Inc. (CSE:IAN; OTCQX:ITHUF) advanced 14% in response to:
    • it being added to the constituents of Horizons Emerging Marijuana Growers Index ETF (NEO:HMJR).
  4. Avicanna Inc. (TSX:AVCN; OTCQX: AVCNF) stock advanced 13% in response to its announcement that:
    • it has entered into a credit facility with Inmobiliaria Bondue S.A.S. entitling it to borrow up to USD$5,000,000.
  5. Ignite International Brands, Ltd. (CSE:BILZ; OTCQX:BILZF) stock  declined 8% in response to the company’s announcement that:
    • it has granted to certain directors, officers and employees 1,220,000 options to purchase subordinate voting shares in the Company at an exercise price of $2.25 per subordinate voting share, expiring on June 3, 2024.
  6. SLANG Worldwide Inc. (CSE: SLNG) stock declined 7% in response to the company’s announcement that:
    • Jeremy Heidl has resigned from the Company’s Board of Directors
  7.  Sunniva Inc. (CSE: SNNOTCQB: SNNVF) stock declined 7% in response to the company’s announcement that:
    • it has been named in a lawsuit by IMK Management Services Inc. seeking C$472,500 owing according to a Finder’s Fee Agreement with respect to the sale of Natural Health Services in December, 2018
  8. TerrAscend Corp. (CSE:TER) stock declined 7% in response to the company’s announcement that:
    1. it has increased the offering size of its private placement to approximately US$30 million
  9. Aurora Cannabis’ (NYSE:ACB,TSX:ACB) stock declined a further 6% in response to the company’s announcement last week that:
    •  Cam Battley had “stepped down” from his role as chief corporate officer ending his three year stint with Aurora.