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Corbus Pharmaceuticals Holdings Inc. (NASDAQ:CRBP) and
Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE), both posting gains of more than 40% this week.
Sundial Growers Inc (NASDAQ:SNDL) had a roller coaster week. The stock received attention from Reddit investor group r/WallStreetBets, which has over 8 million members. Sundial shares closed nearly 48.5% higher on Monday, dipped Tuesday, but spiked 16% on Wednesday. Gains for the week ultimately surpassed 38%.
As of Jan. 14, 35.79% of the float was short, and the group is known to target buying shares of companies such as
GameStop Corp (NYSE:GME) and
AMC Entertainment Holdings Inc (NYSE:AMC), which are heavily shorted as well.
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Red White & Bloom Applauds Joint Statement on Cannabis Reform
Red White & Bloom Brands Inc.February 2, 2021 GMT
TORONTO, Feb. 02, 2021 (GLOBE NEWSWIRE) Red White & Bloom Brands Inc. (CSE: RWB and OTC: RWBYF) (“RWB” or the “Company”) today provided comments on U.S. Senators Cory Booker, D-N.J., Ron Wyden, D-Ore., and Chuck Schumer, D-N.Y., joint statement regarding comprehensive cannabis reform legislation in the 117th Congress.
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“This announcement today is a major step towards the end of prohibition of cannabis in the largest economy in the world and RWB has aggressively claimed our stake and positioned ourselves for the impending explosion of growth in the United States” stated RWB CEO and Chairman Brad Rogers. “I think the joint statement issued to pursue and prioritize comprehensive cannabis reform legislation in the current session is very welcome news
Distell is now in the cannabis industry.
The producer of Bunnahabhain and Deanston Scotch whiskies teamed up with venture capital firm Invenfin to invest in cannabis wellness brand Rethink, The Spirits Business reports.
Under the deal with the owner of South Africa s cannabis brand, Releaf Pharmaceuticals, both enterprises obtained a 20% stake each in the brand.
The sum remains undisclosed.
The partnership is poised to yield a portfolio of cannabis-based brands featuring a wide range of products.
Rethink was launched back in Oct. 2019, and its products were the first of its type to receive the Cannabis Research Institute s support. The company offers CBD oils, capsules, teas, and skincare goods.
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Cannabis sales in Michigan hit $984.6 million in 2020. Medical cannabis sales accounted for $474 million for the year, while adult-use sales reached $510.7 million.
Rhode Island and the Soboba Band of Luiseno Indians received approvals from the U.S. Department of Agriculture (USDA) for its hemp regulatory proposals.
The Christmas and New Year’s holidays marked the single biggest cannabis sales period of 2020. The period between Dec. 18 and Dec. 24 generated roughly $427 million, according to
Akerna (NASDAQ:KERN). The largest sale day of the period was Wednesday, Dec. 23, with $87.3 million, making it the third largest cannabis sales of the year, just behind Green Wednesday with $87.4 million. Exceeding all expectations, New Year’s Eve was the single biggest sales day of 2020 with $89.4 million.