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Pro-cannabis legislation advanced in Louisiana and Texas. Canadian retail cannabis sales grew 74% in February. Health Canada added 8 licenses, leaving the total now at 665. 420 Investor model portfolios have gained 63.2-81.9% year-to-date, while the Global Cannabis Stock Index has gained 37.8%. Review
Louisiana made some progress on an adult-use legalization bill, while Texas could improve its medical cannabis program, as legislators consider raising the THC limit and expanding the number of medical conditions.
Statistics Canada showed February retail sales of C$263 million grew 74% from a year ago. Health Canada added 9 licenses, leaving the total at 657, including 10 that are expired, revoked or suspended. It released data for December suggesting more than 1100 tons of dried flower inventory, well ahead of consumption levels.
During the week, I shared these insights with subscribers at 420 Investor:
Previews for Cronos Group, Lowell Farms and Scotts Miracle-Gro Financial Reports Model Portfolio Composition 04/23/21 Cannabis Sub-Sector Review – 04/23/21 Here are some of this week’s highlights for 420 Investor Focus List names:
APHA announced that its Broken Coast unit has begun selling concentrates. It also introduced concentrates under its Good Supply brand. CCHWF is acquiring a massive greenhouse in Riverhead, Long Island for $42.5 million. CGC settled a licensing dispute with Cure Pharmaceutical, paying $3.95 million