Cronos Group to Begin Trading On Nasdaq Stock Exchange

CANADA: Cronos Group Inc.has announced that trading of its common shares in the United States will be elevated from the Nasdaq International Designation program to the Nasdaq Global Market (“Nasdaq”).

Cronos Group expects that its common shares will begin trading on Nasdaq on February 27, 2018 under the trading ticker symbol “CRON.” Cronos Group will retain its listing on the TSX Venture Exchange (“TSX-V”) under the symbol “MJN.”

“This up listing to NASDAQ is a major corporate milestone and reflects the significant progress we have made in strengthening our corporate governance and expanding our global footprint,” said Mike Gorenstein, CEO of Cronos Group. “We believe this will increase long term shareholder value by improving awareness, liquidity, and appeal to institutional investors.”

About Cronos Group

Cronos Group is a globally diversified and vertically integrated cannabis company with a presence across four continents. The Company operates two wholly-owned Canadian Licensed Producers regulated under Health Canada’s Access to Cannabis for Medical Purposes Regulations: Peace Naturals Project Inc. (Ontario), which was the first non-incumbent medical cannabis license granted by Health Canada, and Original BC Ltd. (British Columbia), which is based in the Okanagan Valley. The Company has multiple international production and distribution platforms including: Cronos Israel and Cronos Australia. Through an exclusive distribution agreement, Cronos Group has access to over 12,000 pharmacies in Germany. The Company is rapidly expanding its global footprint as it focuses on building an international iconic brand portfolio and developing disruptive intellectual property. Cronos Group is committed to building industry leading companies that transform the perception of cannabis and responsibly elevate the consumer experience.

 

 

Merrill Lynch Is Bullish On Marijuana

NEW YORK: The investment arm of Bank of America, Merrill Lynch, sent out a 45 page equity report last week focused on prospects related to marijuana.

Carefully researched, it was an interesting peek at how heavy hitters on Wall Street are starting to view the expanding industry. The document is not publicly available. It was leaked to this writer by an individual who received the report as a member and investor.

Among the pages were extensive, basic information about cannabis and the cannabinoids THC and CBD. There was also a comprehensive outline on the patchwork of state medical cannabis laws. Further within the document there was an overview of the benefits for a long list of medical conditions, some public polling and then tantalizing information about publicly traded companies already operating in the sphere.

Don’t Fight The Tape: Cannabis Stocks Subject To Broad Market Swings

DISTRICT OF COLUMBIA:  Unless you’ve been hiding under a financial rock, you’ve seen just how volatile major stock indexes have been for the past week. It’s been a wild ride as the S&P 500, which represents the largest companies in America, has slid as much as 5% and risen nearly as much—in the same day! The Dow Jones Industrial Average had swings of over 500 points a day for four straight days, something not seen since the depths of the financial crisis in 2008-2009.

Investors may be lulled into thinking that stocks they own or study in the cannabis space are insulated from what’s happening in the broader market. But that’s simply not true, and violates one of the oldest maxims in investing: Don’t fight the tape.

The “tape” here refers to what is going on in the broader indexes. If, for example, the S&P 500 or the NASDAQ is down 2% on the day, the odds of a cannabis stock rising in price that particular day is very, very low. Unless the company has some specific news or catalyst affecting it that has just come to light, one can expect that the stock will be down along with the broader “tape.” The expression comes from Wall Street days of yore when stock prices literally came out in a long roll of ticker tape, tick-tick-ticking throughout the day. Prices of stocks tended to move in concert then, and 100 years later it’s the same story.

 

Will Marijuana Stocks Soar In 2015?

DISTRICT OF COLUMBIA:  Marijuana stocks have been some of the market’s top performers this past year as investor optimism has soared. However, that impressive run might not carry over into 2015, at least not for all companies.

That’s because 2015 could be the year marijuana investors become more selective, picking and choosing the best-in-breed plays and ignoring those with the most question marks. With that in mind, let’s consider what might lie ahead in the new year for two of this year’s biggest marijuana winners: GW Pharmaceuticals  and Insys Therapeutics.

A bit of background
In 1996, California became the first state to approve the use of medical marijuana. An additional 22 states have since legalized marijuana for use in patient treatment, including Maryland, Minnesota, and New York in 2014.

Rising awareness of marijuana’s potential as a therapy for pain caused by diseases such as cancer or glaucoma has sparked a wave of ballot measures legalizing marijuana possession for medical purposes. That awareness is also sparking renewed interest in legalizing marijuana for recreational use. So far, four states have passed laws allowing for possession of a small amount of recreational marijuana: Colorado, Washington, Oregon, and Alaska. Washington, D.C. has done the same.