WHITEFISH, MT / MAY 12, 2014 / The Marijuana Index(TM) moved lower last week, led by steep declines in CannaVEST Corp. (OTC: CANV) and modest declines in bellwethers like GW Pharmaceuticals plc (NASDAQ: GWPH) and MedBox Inc. (OTC: MDBX).
Top gainers included Cannabis Stevia Inc. (OTC: CBDS) with a 9% gain and BreedIT Corp. (OTC: BRDT) with a 7% gain for the week, as of Friday afternoon. Last week, CannabisFN featured a report on BreedIT Corp. discussing the company’s business model and featuring a video interview with CEO Dr. Oded Sagee.
Cannabis regulatory initiatives also continued to move forward last week. Senators in Minnesota voted 48-18 to advance a bill that would make physician-prescribed medical cannabis legal, moving further than a House bill that would have been much more restrictive by limiting access to FDA-sanctioned clinical trials.
- Affinor Resources Acquires Potential MMPR LP – Affinor Resources Inc. (OTC: RSSFF) announced that it entered an agreement to acquire 100% of a private company in the final stages of obtaining their MMPR license to grow medical marijuana in British Columbia, Canada.
- No Health Insurance Coverage for Cannabis… Yet – CannabisFN explores some of the regulatory hurdles surrounding health insurance coverage of medical cannabis, including the federal government’s tough stance and the time-consuming process of FDA-sanctioned clinical trials.
- SinglePoint Move to Corner Dispensary Signage Market – SinglePoint Inc. (OTC: SING) announced that it signed an LOI to acquire Drive Media Network LLC’s digital signage network with plans to introduce the product into cannabis dispensaries throughout the nation.
- Novus Targets Medical Cannabis Compliance – CannabisFN takes a look at Novus Acquisition & Development Corp. (OTC: NDEV) and its plans to capitalize on growth in the cannabis industry by developing compliance solutions for physicians, dispensaries, and patients.
- Medical Cannabis Legalization Moves Forward in MN – Minnesota Senators voted in favor of a bill that would make physician-prescribed medical cannabis legal for a broad range of patients, moving beyond a more restrictive bill that was introduced in the state’s House.
- BreedIT Corp: The Money is in the Seeds – CannabisFN explores BreedIT Corp.’s (OTC: BRDT) unique business model featuring an exclusive interview with CEO Dr. Oded Sagee, who discusses the company’s software, long-term goals, and potential play in licensing proprietary cannabis strains.
Exclusive Interview Series
In a recent episode of CannabisFN’s Executive Interview Series, we talked to CEO and Director of BreedIT Corp. Dr. Oded Sagee. Dr. Sagee discusses the company’s unique software that was developed by a team of the world’s leading breeding specialists and how it could impact the cannabis industry.
Click Here: Watch the Full Interview
What to Watch This Week
The cannabis sector moved lower last week as investors tempered their expectations. While many stocks in the space appear lofty, some companies present unique opportunities to profit over the long-term. The stabilization of valuations should help form a base for less volatile price action and more opportunities for longer term investors to become involved rather than short term traders.
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SOURCE: Emerging Growth LLC