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


Welcome to the Cannabis Countdown. In This Week’s Edition, We Recap and Countdown the Top 10 Marijuana and Psychedelic Stock News Stories for the Week of January 11th – 17th, 2021.

Without further ado, let’s get started.

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10. 4 U.S. Pot Stocks for Cannabis Investors Looking to Ride the Blue Wave to Federal Legalization

With the Democrats Putting the Finishing Touches on the Blue Wave, Many Believe Serious Federal Marijuana Reform Could Happen in 2021 and the Bullish Sentiment Has the Cannabis Sector Soaring

While it’s true, a rising tide lifts all boats; we believe U.S. Multi-State Operators (MSOs) Red White & Bloom (OTCQX: RWBYF), Curaleaf (OTCQX: CURLF), Green Thumb (OTCQX: GTBIF) and Trulieve (OTCQX: TCNNF) are uniquely positioned to outperform the Cannabis sector in a big way.


9. Invest in Psilocybin Therapy with Compass Pathways Stock

In 2018, Compass Pathways Received Breakthrough Therapy Designation From the FDA for COMP360 for the Treatment of TRD

Founded in 2016, Compass Pathways (NASDAQ: CMPS) is located on the outskirts of Karl Pilkington’s stomping grounds – Manchester, England – where the company managed to raise just over $116 million in funding from around a dozen investors including Peter Thiel ahead of its IPO. The bulk of that money is being put towards developing “a proprietary, high-purity polymorphic crystalline formulation of Psilocybin,” and then turning it into a therapeutic that can address a severe form of depression known as treatment-resistant depression (TRD).


8. Red White & Bloom Makes Final Cash Payment for Platinum Vape Acquisition, Platinum Reports Stunning First Week of 2021 Sales

RWB’s Powerhouse Cannabis Band Platinum Vape Continues to See Stunning Revenue Growth With Platinum Reporting Record-Breaking Sales of USD $2.8 Million in the First Week of 2021

Red White & Bloom (OTCQX: RWBYF) announced that the company has now completed all cash payments related to the Platinum Vape (PV) acquisition. Powered by increased revenue figures in all active states, Platinum Vape expects to see its sales continue to organically accelerate as the company gears up to enter Arizona in Q1 2021 as well as enter core RWB markets throughout the year.


7. As the Focus on Psychedelic Stocks Increases, So Do the Valuations

With So Many New IPOs and Companies Launching in the Psychedelic Sector, it’s Important to Fully Evaluate the Major Factors of Success or Failure in the Industry

There are various steps that companies take to have a drug approved and to successfully complete them takes years and tens of millions of dollars. The further ahead a company moves in the approval process, the more valuable the company becomes, and that is why there is so much excitement for Compass Pathways. In all, there are currently only four Psychedelic Stocks that have Phase 2 clinical trials at the comment and they are Compass Pathways (NASDAQ: CMPS), MindMed (OTCQB: MMEDF), Cybin Inc. (NEO: CYBN) and Mydecine Innovations (OTC: MYCOF).


6. Aphria: Multiple Analysts Raise Price Targets Following Q2 2021 Results

Aphria Now Has 11 Analysts Covering its Stock and APHA Analyst Ratings Currently Include 2 “Strong Buy” Ratings, 6 “Buy” Ratings, and 3 “Hold” Ratings, With an Average 1-Year Price Target of CDN $11.85

On Friday, Aphria (NYSE: APHA) reported its second-quarter financial results for fiscal 2021. The company reported net revenues of C$160.5 million, a 10% increase quarter over quarter. Net cannabis revenue came in at C$67.9 million, an increase of 7% quarter over quarter.


5. Champignon Brands Announces New CFO and New General Counsel

Appointments Complete New Top Management Team Under Leadership of Chairman and CEO Dr. Roger McIntyre

Champignon Brands (OTCQB: SHRMF), Chairman and CEO Dr. Roger McIntyre announced the company’s appointment of Stephen R. Brooks as its new Chief Financial Officer and Peter Rizakos as the firm’s new General Counsel. These appointments complete the company’s new top management team put into place by Dr. McIntyre and the Champignon Board of Directors.


4. Curaleaf: Canaccord Raises Price Target to $23.50

Curaleaf Currently Has 9 Analysts Covering its Stock With 2 Analysts Issuing “Strong Buy” Ratings, 9 Issuing “Buy” Ratings and an Average 1-Year Price Target of CDN $20.19

Wednesday, Canaccord came out with their updated valuations for the large three multi-state operators. In doing so, they raised their 12-month price target on Curaleaf (OTCQX: CURLF) to C$23.50 from C$18.50, while reiterating their Speculative Buy rating on the company.


3. Peter Thiel-Backed Psychedelics Start-Up Targets Schizophrenia Ahead of IPO

ATAI Life Science, a Peter Thiel-Backed Start-Up, Has Taken a Majority Stake in Recognify, a Company That is Developing Drugs to Help Treat Schizophrenia

News of the Recognify deal comes after ATAI raised $125 million from investors including Peter Thiel in November ahead of a planned stock market listing this year. Total investment in the company now stands at over $210 million. The plan is to take ATAI public in the next few months at a valuation of between $1 and $2 billion, according to an industry source that asked to remain anonymous due to the nature of the discussions.


2. U.S., Canadian Pot Stocks Flying High in 2021 as American Legalization Hopes Rise

Cannabis Stocks Are Off to a Hot Start to the Year, But Can That Momentum Be Sustained?

Thanks in large part to optimism surrounding the GA Senate run-off elections that will give the Democrats control of Congress and the White House, cannabis has been one of the biggest winners of 2021, with the valuations of most Pot Stocks trading around record highs. Top U.S. Multi-State Operators (MSOs) Curaleaf (OTCQX: CURLF), Trulieve (OTCQX: TCNNF), and Cresco Labs (OTCQX: CRLBF) all posting impressive early gains. The trade is also evident in Canada, with top Licensed Producers (LPs) Canopy Growth (NASDAQ: CGC), Cronos Group (NASDAQ: CRON) and Aphria (NYSE: APHA) – fresh off quarterly results that handily beat analyst expectations – also posting strong gains.


1. MindMed Expands Psychedelic Microdosing Division, Adds Groundbreaking Study Evaluating LSD Microdosing Through Next-Gen Digital Clinical Markers

MindMed to Commence Groundbreaking LSD Microdosing Study Evaluating Benefits on Neuroplasticity, Sleep, Cognitive Enhancement Variables and Immune System Response on the Human Body

MindMed (OTCQB: MMEDF), a leading Psychedelic medicine biotech company announced an innovative randomized placebo-controlled study evaluating the effects of daytime and evening administration of low doses of LSD on cognitive performance, sleep quality, mood, neuroplasticity markers, emotion regulation, quality of life, and immune system response.


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