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You are here: Home / Industry News / Markets: US Stocks Surge With Democrats’ Victory, Columbia Care, Sativa Wellness, Cann Group et al…

Markets: US Stocks Surge With Democrats’ Victory, Columbia Care, Sativa Wellness, Cann Group et al…

January 13, 2021 by Peter McCusker Leave a Comment

by Peter McCusker

WITH the Democrats in control of the White House, Senate and Congress Wall Street now beckons for America’s cannabis industry.

Stock prices moved ahead rapidly in the last week following the Georgia state run-off which tipped the Senate into Democrat hands.

The closely-followed new New Cannabis Ventures Global Cannabis Stock Index rose by 14% and the American Cannabis Operator Index rose by a similar magnitude.

Writing for BusinessCann American cannabis entrepreneur Elle Rahman outlined how a Democrat clean-sweep will turbo-charge the industry.

Cannabis Firms To ‘Trade Like Other Industries’

She said: “The (Democrats) support recreational-use decriminalisation of cannabis, removing cannabis as a Schedule I drug in the Controlled Substances Act, and Federal medical legalisation; deferring to each State to manage and set laws pertaining to the cannabis economy.

“Under the new administration, we anticipate the passage of either or both of the STATES and MORE Acts – which will allow for access to capital markets and financial services without risk of Federal sanctions.

“This should allow cannabis business start-ups and existing operators to trade, as in any other commercialised industry.”

As, and when Federal legality happens Wall Street’s two main markets – the New York Stock Exchange and the NASDAQ – will open to US cannabis companies for the first time.

US Cash Heading Towards Europe

The strength of the American cannabis economy was demonstrated in new analysis which reports that five US multi-state operators are, themselves, generating more revenues than the whole of the Canadian industry.

A Nasdaq article has predicted America’s ten fastest-growing cannabis companies with multi-state operator Jushi Holdings at number one – it is predicted to boost revenues by over 175%, this year.

Cannabis sales in the US were anticipated to have topped $16bn in 2020 – a rise of 25% – and this could rise at even greater magnitude during 2021.

The rising tide of North American cash should also wash overseas; Europe and Asia being premium targets.

One US company with an existing European footprint is Columbia Care and it has boosted its domestic presence with the acquisition of a dispensary chain.

The New York-based cannabis company took over The Healing Center San Diego in a $15m transaction.

Transformational Year For UK Cannabis Firm

Rap star Snoop Dog’s cannabis investment venture vehicle Casa Verde Capital recently closed on a further $100m funding round.

The emergence of cannabis is also attracting players from other industries with US cable TV company 4Cable TV International purchasing two CBD franchise companies.

In Europe, the UK’s leading medical cannabis company GW Pharmaceuticals is being cited for an alleged patent infringement by Canopy Growth and UK-based Brains Bioceuticals is being pursued by Canadian firm Isodiol for a disputed $2m in relation to the purchase of its Kent manufacturing facility.

UK CBD firm Sativa Wellness Group reported record sales in December, with Chief Executive Henry Lees-Buckley saying 2020 had been a ‘transformational year’. One of the UK’s few listed cannabis company Zoetic International has listed on the junior US OTCQB Venture Market, as well as maintaining its existing presence on the UK Aquis Exchange.

Australia Medical Cannabis Firm Secures German Access

Australian firm MGC Pharmaceuticals has secured a 3m Euro cash grant from the Maltese Government to establish to establish an ArtemiC production line in the Mediterranean island nation.

The proposed European Union GMP-compliant facility will be able to produce 10,000 units per day of its anti-inflammatory Covid-19 treatment.

Fellow Australian firm the Cann Group has become the latest overseas company to enter the German medicinal cannabis market. It will supply importer iuvo Therapeutics with 19,000 units of its 30ml cannabis extract.

Cann has paid Canadian $1m into a $5m capital raise by iuvo, which will give Cann around 2% of iuvo’s issued ordinary shares. Its German partner has access to more than 20,000 domestic pharmacies.

And finally, changes to the rules on CBD mean that Australians will be able to access some products from pharmacists without a prescription, although critics say the changes have not gone far enough.

Filed Under: Industry News Tagged With: Cann Group, Casa Verde Capital, Columbia Care, Federal legality, Jushi Holdings, Jushi Holdings Inc., Sativa Wellness Group, US Cannabis Stocks

About Peter McCusker

Peter McCusker is the Founder and Editor of BusinessCann and an experienced news and business editor, who believes it’s time to fully embrace the multiple, proven, medical benefits of the cannabis plant. BusinessCann covers the ins and outs of the growing European Regulated Medical Marijuana marketplace. Peter can be reached at [email protected].

BusinessCann is an online news publication, which supports the growth of Europe’s Hemp, CBD and Medicinal Cannabis industries by providing factual and feature articles, comment and profiles on the people and businesses forging its growth and development.

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