4 Things Cannabis Investors Should Watch This Week

The ETFMG Alternative Harvest ETF MJ traded lower on Monday as investors continued to take profits on the post-election run-up in cannabis stocks. This week is a big week in the cannabis space with several potential catalysts of note ahead.

Here are for things cannabis investors should be watching this week.

Monday: Perhaps the biggest potential event this week is the New Jersey legislature voting on a revised cannabis deal in the state. Cantor Fitzgerald analyst Pablo Zuanic said that Curaleaf Holdings Inc. CURLF, Green Thumb Industries Inc. GTBIF and Columbia Care Inc. CCHWF are among the cannabis stocks with the largest presence in New Jersey.

“Note that a court ruling may pave the way for 24 more licenses to be issued in NJ,” Zuanic said.

Related Link: 3 Reasons Cannabis Stocks May Be Headed Lower

Also on Monday, rapper and businessman Shawn "Jay-Z" Carter will be performing a round of business wire interviews related to his cannabis SPAC TPCO Holding Corp. GRAMF. In January, Jay-Z’s Roc Nation finalized what is currently the largest cannabis SPAC deal ever, but the stock has underperformed since the deal was finalized.

Tuesday: Privately held Canndoc, the largest cannabis company in Israel, is holding a two-hour investor day event starting Tuesday at 10 a.m. ET. Canndoc is in the process of going public via a merger with SPAC Subversive Real Estate Acquisition Reit Units SBVRF.

Thursday: On Thursday and Friday, Benzinga will be holding its virtual Cannabis Capital Conference. Key speakers at this year’s event include Canopy Growth Corp. CGC President & Chief Product Officer Rade Kovacevic, Green Thumb Industries Chief Strategy Officer Jennifer Dooley, Charlotte's Web Holdings Inc. CWBHF CEO Deanie Elsner, Trulieve Cannabis Corp. TCNNF CEO Kim Dickens and dozens of other leading cannabis entrepreneurs, executives and investors.