Marijuana stocks ended the week on a high noteand there are several developments that investors need to be aware about.
From an initial public offering to earnings, this will sure be a busy week for marijuana investors. We have highlighted 5 stories that we believe you should be aware of.
DOJA Commences Trading This Week
DOJA, a premium cannabis lifestyle brand featuring high quality cannabis strains in Canada, will commence trading on August 9th. The company’s subsidiary, Northern Lights Marijuana Company received its license to cultivate under the ACMPR in June and will be well positioned to capitalize on the recreational cannabis market when it opens (expected July 1, 2018).
DOJA is one of 52 federally licensed cannabis producers in Canada and was founded by the team that started SAXX Underwear. The company’s production facility is in British Columbia’s Okanagan Valley. They plan to expand the 7,100-square foot facility, which currently has three grow rooms and can produce 660 kilograms per year (combined).
Keep an eye on this one. We will be monitoring how the market responds to this new offering and will keep our premium members updated as needed.
Aphria Continues to Drop, Where is the Bottom?
Aphria (APH.TO) (APHQF) remained under pressure on Friday and the shares ended the week on a down note. This drop comes as concerns mount regarding its United States assets and APH.TO dropped more than 11% last week.
While this drop is concerning, it provides a great opportunity to invest in one of Canada’s top licensed medical cannabis producers. Aphria has continued to report strong numbers and its management team continues to work to create value for its shareholders.
We would take a look at Aphria on this drop and believe that we could see mixed trading in the near term. The TSX could very likely rule against Canadian licensed producers owning United States cannabis assets and we will keep you updated on how this story develops.
Medical Marijuana Biotech Stocks Bounce Higher
GWPH rallied 6% off this recommendation and its peers benefited from this as well. Zynerba Pharmaceuticals (ZYNE) ended the day up approx. 10% while Corbus Pharmaceuticals Holdings (CRBP) jumped 5.2%.
Although GW is sometimes compared with Zynerba or Insys, the companies are very different. GW is focused on developing treatments from the actual cannabis plant while Zynerba and Insys focus on developing treatments from synthetic cannabis. We continue to prefer GW.
Nevada Marijuana Firms Facing a Green Rush
Nevada’s recreational marijuana market has been hot. Demand for recreational marijuana has exceeded expectations and there continues to be a supply-demand problem.
credit:420intel.com
