Cannabis Capital Markets Roundup Week Ending October 8th, 2021
NEW YORK- Welcome to the week that was on Highly Capitalzied. Here’s a round up of latest financial news moving the cannabis stock markets. Week ending October 8th, 2021.
1) Tilray Inc (NASDAQ:TLRY)
Tilray’s Q.1 revenue fell well short of analysts’ estimates on October 7, despite jumping 43% year-over-year thanks to strong demand for cannabis products in the pandemic. Tilray’s quarterly losses of 8 cents per share didn’t cause any surprises.
2) ETFMG 2x Daily Inverse Alternative Harvest ETF (NYSE:MJIN)
A new cannabis ETF, came out on October 6. This new cannabis ETF was issued by ETF Managers Group LLC. Their goal is delivering leveraged investment results of two times the inverse (or opposite) of the performance of the Prime Alternative Harvest Index, allowing investors access to cannabis companies worldwide and leveraging the rapidly-accelerating legalization efforts worldwide.
2) High Tide Inc. (NASDAQ:HITI)
High Tide shares are to be included in The Cannabis Growth ETF (NASDAQ:BUDX) for a fourth time. According to Raj Grover of High Tide, ” The number of equity research analysts covering High Tide has doubled from two to four over the same time period, with more likely on the way. All of this demonstrates that our growth strategy and the execution of our business plan are not going unnoticed.”
The cannabis brand also finalized the agreement for its $12.32 million acquisition of 80% of Enigmaa Ltd.
3) Flora Growth Corp. (NASDAQ:FLGC)
Flora Growth Corp launched a study on cannabis and fibromyalgia and chronic pain patients. Flora Growth president and CEO, Luis Merchan, “Our team is incredibly excited to announce our entry into cannabinoid science which will help us achieve our goal of developing pharmaceutical cannabis products while working to advance global cannabinoid research and become a thought leader in the space.”The study primarily focused on the USA and the UK. By running trials in multiple locations, Flora Growth stated it expects to fast-track the longer expected trials.
5) Molson Coors Beverage Company (NYSE:TAP) and Hexo Corp (NASDAQ:HEXO)
Despite their small category share, drinks brands are launching weekly in cannabis. Not to be left out, TAP and HEXO announced the beverage brand name of Verywell is expanding its footprint within the US outside of its previously exclusive offering in Colorado.
Verywell’s product line features “non-alcohol, adaptogenic, hemp-derived CBD sparkling waters and unflavored beverage drops. All Veryvell products use broad-spectrum hemp and contain <0.3% THC, zero sugar and zero calories.”
6) Clever Leaves Holdings Inc. (NASDAQ:CLVR)
CLVR announced they’d exported some 30 kilos of cannabis flower from Portugal to US-based Biopharmaceutical Research Company.
This is their first commercial cannabis export from Portugal to the USA, solidifying both Clever Leaves’ access to the U.S. medical cannabis market.
7) Agrify Corporation (NASDAQ:AGFY)
8) Akerna Corp. (NASDAQ:KERN)
10) Canopy Growth Corporation (NASDAQ:CGC)
About the Author: HCN News Team
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