Pot Stocks, ETFs, Top News And Data From The Cannabis Industry This Week

Cannabis stocks seem to be rebounding after a tough February. Over the last week, the United States Marijuana Index, which tracks 15 of the largest marijuana stocks in the U.S., posted gains of 5.5 percent. Meanwhile, the North American Marijuana Index, was a bit more volatile on the back of Canadian stocks, ultimately surging 7.4 percent over the week.

The Horizons Marijuana Life Sciences Index ETF HMLSF rose 4.2 percent over the five days of the week, while the ETFMG Alternative Harvest ETF MJ gained 2.2 percent.

It wasn’t all green on this side of the lawn.

“This week offered a reminder that cannabis stock investors should be cautious,” 420 Investor Alan Brochstein told Benzinga, as he referenced a promotion scandal involving OWC Pharmaceutical Research Corp OWCP. “Jeff Friedland, a very public promoter of OWC Pharma, was sued by the SEC for not properly disclosing his relationship with the company and dumping stock onto the market as he continued to promote the stock on its behalf. OWCP never properly disclosed the payment of 5.1 million shares to Friedland."

Here are some of the top marijuana stocks in U.S. exchanges and how the performed this week:

• 22nd Century Group Inc XXII: up 10 percent
• Aphria Inc APHQF: up 1.9 percent
• Aurora Cannabis Inc ACBFF: up 6.7 percent
• Cannabis Sativa Inc CBDS: down 18 percent
• CannTrust Holdings Inc CNTTF: down 8.9 percent
• Canopy Growth Corp TWMJF: up 7.5 percent
• Cronos Group Inc. CRON: down 3.2 percent
• GW Pharmaceuticals PLC- ADR GWPH: up 4.2 percent
• iAnthus Capital Holdings Inc ITHUF: down 2.3 percent
• India Globalization Capital, Inc. IGC: down 2.8 percent
• MedReleaf CorpMEDFF: up 5.3 percent
• Scotts Miracle-Gro Co SMG: up 1 percent
• THC Biomed Intl Ltd THCBF: up 35.3 percent
• Zynerba Pharmaceuticals Inc ZYNE: down 9.8 percent

In The News

iAnthus Capital Holdings, which holds one of the only two dispensary licenses in Brooklyn and the only dispensary serving the 500,000 residents of Staten Island, announced it signed a lease for its new Brooklyn location. The dispensary will be situated across the street from the Barclays Center. Both the Brooklyn and Staten Island locations can make deliveries to Manhattan.

“The build-out of this high-traffic dispensary location in Brooklyn is a big step in our New York market presence,” Hadley Ford, CEO of iAnthus and former Goldman Sachs Group Inc GS executive, told Benzinga. “We’re looking forward to serving Brooklyn’s 2.6 million residents, as well as Manhattan’s 1.6 million residents through our delivery service.”

Research and testing firm xChemistry DNA recently launched a personalized DNA test for cannabis consumers dubbed CannaGx. Through comprehensive analysis, the firm identifies how an individual metabolizes, processes, and responds to cannabinoids – the active chemical ingredients in cannabis and other plants. In turn, the DNA analysis helps consumers learn how cannabinoids may be used to provide relief for various symptoms (including pain, insomnia, and anxiety), translating the data into more specific guidelines for cannabis use.

Leafbuyer Technologies Inc LBUY announced the start of the second phase in the implementation of its blockchain platform aimed at verifying transactions with dispensaries.

“We believe decentralized networks will be the next giant wave in technology. Building our platforms with this integration can give our customers tools that were not possible just a few years ago. Blockchain has the possibility to be a game-changer,” Leafbuyer’s CEO Kurt Rossner told Benzinga.

“It’s important to the cannabis industry because the underlying technology allows for better tracking, verification and proof of ROI, ” COO Mark Breen added.

The latest edition of Goldleaf’s “Patient Journal” was co-edited byHabu Health, a cannabis tech company run by a female neuroscientist with ample experience in opioid and cannabis research, Dr. Adie Poe.

“The teams at Goldleaf and Habu have something very important in common: we both believe in reproducible health outcomes with cannabis,” Dr. Poe told Benzinga. “A major step in achieving this goal is to systematically track which plants produce which results. The newest issue of The Patient Journal allows individuals to do just this; it’s a great tool to allow people to enhance their health by tracking their results.”

Last week, MPX Bioceutical Corp MPXEF reported its third quarter results. During a conference call, the company also discussed its Arizona operations. The team thinks its Arizona operations, including the pending acquisition of The Holistic Center, will generate sales of C$40 million ($31.2 million) in fiscal 2019.

“The company, with its base in Arizona, its expansion into Nevada and pending Massachusetts business, is on track to be one of the largest revenue generators among publicly-traded cannabis companies,” Brochstein said.

Tikun Olam USA said it closed its $7 million offering of 6 percent convertible promissory notes maturing in March 2019. Proceeds will be used for several operational and expansion purposes.

Learn more about these news and others featuring Insys Therapeutics Inc INSY and Namaste Technologies Inc NXTTF with Green Market Report’s Marijuana Money:

Interesting Data

An article in The American Journal of Psychiatry revealed the findings of a multicenter randomized controlled trial, which suggests “CBD has beneficial effects in patients with schizophrenia. As CBD’s effects do not appear to depend on dopamine receptor antagonism, this agent may represent a new class of treatment for the disorder."

Hiku Brands Company Ltd DJACF’s women-focused brand Van der Pop recently surveyed 1,530 North American women about their perceptions, consumption and interests related to cannabis with the hope of facilitating more meaningful conversations that reflect the needs of real women. Check out some of the findings in the interesting infographic below. And make sure to follow our Wonder Women of Weed series.

Same as investments in the industry, cannabis tech companies are growing at a very fast pace. Marijuana business management and compliance firm Flowhub recently reported its revenue had grown more than 800 percent over 2017. Management expects to process more than $1.5 billion dollars in transactions over 2018.

It's estimated that cannabis sales in 2017 generated federal tax revenue of $2.9 billion. This figure is expected to continue to surge consistently, hitting $6.7 billion by 2025. The aggregate number for the 2017-2025 period stands around $44 billion.

Marijuana Business Daily recently issued a report revealing that Nevada cannabis retails sold roughly $200 million worth of recreational weed since adult-use sales debut only six months ago.

“Nevada’s adult-use program has certainly gotten off to a hot start, but rec sales in Colorado and Washington state have grown by leaps and bounds in the years since launch. Currently, average monthly sales in Nevada are just over $32 million, while Colorado and Washington state’s average monthly sales over the latest six months of available data are $96.7 million and $79.7 million, respectively,” the report said. “Whether rec sales in Nevada will grow as dramatically remains to be seen and will depend on how certain aspects of Nevada’s market develop.”

Marijuana delivery company Eaze has been helping California’s cannabis businesses comply with new regulations of the state and, in the process, the team has arrived at some interesting conclusions. For instance, they noted Prop 64 has come with the unintended consequence of limiting low-income patients’ access to cannabis.

As medical cannabis legalization kicks in in Colombia, which seems like the hottest legal marijuana market right now, a few socially conscious businesses are striving to benefit impoverished, local, indigenous communities that paid the price of the war on drugs for decades. One such company is La finca Interacviva-ArachnaMed, a cultivation license holder with a unique approach to business.

Unlike its peers, the firm grows non-psychoactive cannabis through a non-centralized network of local farmers and indigenous tribes, often providing them with the resources to stop producing illegal crops like coca, used to make powdered cocaine – most of which is exported to the U.S.

Events Calendar

• March 21: The Daily Marijuana Observer is hosting a Women in Weed event, featuring some of the most accomplished female leaders in the cannabis industry. The panel will take place on March 21, at Projective Space LES in New York. “Sharing our experiences and discussing the opportunities that exist for women in this space is so important as we work together to create a more inclusive and diverse industry,” one of the presenters, Point Seven Group founder and CEO Ashley Picillo, told Benzinga. “While the west coast and Colorado have certainly led the charge in terms of legalization and rapid industry expansion, it's clear that the Northeast will play an enormous role in shaping what the industry looks like in the next few years and I personally hope to see more of these companies built and driven by women.”
• March 21: In an effort to build bridges (and not walls) with Latin America and its cannabis market, Arizona's Marijuana Industry Trade Association (MITA-AZ) is hosting former Mexican President Vicente Fox during its upcoming monthly networking meeting.

Picture by Javier Hasse.