Cigarette giant PM is considering adding cannabis to its product lineup
Welcome back to our weekly series, Schaeffer's Cannabis Stock News Update, where we recap what happened in the world of marijuana stocks last week, and look ahead to how the cannabis industry will continue to develop in 2021.
Investor interest in the cannabis industry is growing at an explosive rate, and the leading players continue to break through legal barrier after legal barrier, especially in the United States. More than 40 U.S. states legalized recreational and/or medical marijuana by the end of 2020. Now, more and more companies are starting to see the opportunity in cannabis cultivation, marketing, distribution, and technology.
U.S. lawmakers introduced a bill on April 29 to study the impact of state-level legalization of cannabis, and named it the Marijuana Data Collection Act. The goal of this bill is to better understand the economic, public health, criminal justice, and workplace impact of medical and recreational cannabis.
Here is a quick roundup of major cannabis stock news this week:
Akerna Corp (NASDAQ:KERN), an enterprise software developer of the cannabis industry's first enterprise resource planning (ERP) software technology, reported that on April 20 a widely popular, yet unofficial "holiday" celebrating cannabis consumption was the highest sales day for retail cannabis ever recorded, with approximately $111 million in medical and adult-use sales. The 5-day period surrounding the holiday grossed over $373 million.
Aphria Inc (NASDAQ:APHA), a leading global cannabis-lifestyle consumer packaged goods company, announced on April 29 that it has entered the concentrates category under the Good Supply brand, with the introduction of hash, wax, and kief.
cbdMD Inc (NYSE:YCBD), a leading, highly trusted cannabidiol brand, announced on April 29 that it hired Dr. Sibyl Swift as its new vice president for scientific and regulatory affairs.
FSD Pharma Inc (NASDAQ:HUGE) reported a group of concerned shareholders mailed an information circular and gold proxy to HUGE shareholders for its upcoming annual general and special meeting on May 14. The concerned shareholders are urging want to help rebuild FSD Pharma by replacing its current board of directors (except for Anthony Durkacz) at the meeting. They hope to vote and elect five highly qualified and experienced candidates.
According to a Bloomberg report, Philip Morris International Inc. (NYSE:PM) is considering joining other cigarette producers with a jump into the booming marijuana industry. CEO Andre Calantzopoulos said the company is assessing factors including toxicity and efficacy.
HEXO Corp (NYSE:HEXO) announced on April 28 that its flagship Masson-Angers cultivation campus has received its Control Union Medical Cannabis Standard GACP certificate, which is the leading certification standard for medical cannabis cultivation.
Pyxus International (PYX), a global agricultural company, announced on April 29 that one of its indirect subsidiaries has entered into a term loan credit agreement with Pyxus and certain of its other subsidiaries. The credit agreement establishes a $120 million delayed-draw term loan credit facility, with a expiration date of July 2022.
Sundial Growers Inc (NASDAQ:SNDL) announced on April 23 that it has nearly doubled its commitment to SunStream Bancorp Inc. to $188 million from its previously announced commitment of $100 million.
Tilray Inc (NASDAQ:TLRY), a global pioneer in cannabis research, cultivation, production, and distribution, announced on April 27 that it has been included in the inaugural list of TIME's 100 Most Influential Companies. The new list highlights 100 businesses making an extraordinary impact worldwide.
22nd Century Group Inc (NYSE:XXII), a leading plant-based biotechnology company focused on tobacco harm reduction, low nicotine-content tobacco, and hemp/cannabis research, announced on April 26 that it fulfilled an order for 3.6 million of its variable nicotine content research cigarettes for independent scientific studies.