The Marijuana Index(TM) traded higher last week amid GW Pharmaceuticals plc’s (NASDAQ: GWPH) rally higher as well as broader gains across the industry.
WHITEFISH, MT / June 24, 2014 / Top gainers included GW Pharmaceuticals plc (NASDAQ: GWPH), which rallied more than 20% last week after reporting favorable preliminary data on its clinical trials, and Novus Acquisition & Development Corp. (OTC: NDEV), which extended its rally by about 11% this week. Losers last week included Tranzbyte Corp. (OTC: ERBB), which fell 8.3% on no news, and Fusion Pharm Inc. (OTC: FSPM), which gave up some of its strong gains from the prior week.
Cannabis regulatory initiatives also continued to gain ground last week. In New York, the legislature and governor agreed to a last-minute deal to legalize limited forms of medical marijuana for limited numbers of patients. Florida lawmakers reached a similar deal to legalize medical marijuana in a limited way as well, helping open the doors in more U.S. states. And finally, Hillary Clinton’s stance on the legalization of marijuana also appears to be lightening up.
What's New?
- Novus Aims to Fill Void in Cannabis Industry – CannabisFN profiles Novus Acquisition & Development Corp. (OTC: NDEV) and its plans to introduce a health insurance program geared towards medical marijuana patients.
- Hillary Clinton Lightens Stance on Cannabis – Possible Presidential Candidate Hillary Clinton recently made comments that suggest her attitudes towards cannabis are evolving to be more liberal over time.
- Intelligent Highway Solutions Targets Cannabis – After licensing a proprietary lighting solution for commercial applications, Intelligent Highway Solutions Inc. (OTC: IHSI) unveiled plans for cannabis growers.
- New York Legalizes MMJ after 20 Year Battle – New York State legalized limited forms of MMJ for limited patient conditions, which if signed off on by the governor, would make it the 23rd state to legalize the substance.
- CannLabs Expands into CT Testing Market – CannLabs Inc. (OTC: SDSPD) announced that it signed exclusive agreements with two of the four licensed cannabis businesses in Connecticut to provide lab and analytics services.
Exclusive Interview Series
In a recent episode of CannabisFN’s Executive Interview Series, Mike Elliott sits down to talk with Novus Acquisition & Development Corp.’s Andrea Lopez about the company’s plans to enter the medical marijuana insurance and compliance markets.
Click Here: Watch the Full Interview
CannabisFN’s Mike Elliott also profiled Intelligent Highway Solutions Inc.’s new lighting solutions that it has licensed for the cannabis industry, which could help growers reduce their electricity costs and improve their yields.
Click Here: Watch the Full Product Overview
What to Watch This Week
The cannabis sector moved higher last week after GW Pharmaceuticals plc reported its bullish news. While medical marijuana gains ground in the U.S., Canadian companies are also starting to see the fruits of the Marihuana for Medical Purposes Regulations ("MMPR") that went into effect earlier this year. Investors could see more licensed producers become publicly traded over the coming quarters.
Upcoming Events
WeedStock Conference – June 29 to July 1, 2014 – The 1st Annual Cannabis Investor Conference in Denver, Colorado will feature networking events, industry speakers, expert panels, and more.
About CannabisFN
CannabisFN.com is a dedicated financial network covering new, emerging and established companies operating in the burgeoning multi-billion dollar medical marijuana ("MMJ") and cannabis industries. CannabisFN’s coverage is syndicated on the leading industry specific and mainstream financial websites and social media. To learn more and request a media kit, visit http://www.cannabisfn.com/market-defining-companies-program/.
To subscribe to the CannabisFN newsletter or read additional coverage on cannabis laws and investments, visit http://www.cannabisfn.com.
Disclaimer: Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two. For full disclosure please visit: http://www.cannabisfn.com/legal-disclaimer/.
Emerging Growth LLC