These Pot Stocks Went Wild This Week

Nasdaq threw a compliance red flag at HEXO Corp (NASDAQ:HEXO) on Monday, indicating that HEXO is not currently in compliance with the minimum bid price requirement in Nasdaq Listing Rule 5500(a)(2) for continued listing. HEXO common shares' closing bid price has been below $1.00 for 30 consecutive trading days, breaking the cited Nasdaq listing rule. While HEXO stock will experience no immediate impact, the company has 180 calendar days to regain compliance. Then, just a few days later, one of HEXO's shareholders announced plans for a hostile takeover including the nomination of five new board members. The shareholder's battle with HEXO management started when he claims that HEXO acquired Redecan using deceptive practices that should never have been approved by the board.

Greenlane Holdings, Inc. (NASDAQ:GNLN) released its preliminary results from fourth quarter of full-year of 2021 on Monday. The pivotal highlight for GNLN in 2021 was its KushCo merger back in August. Greenlane delivered a 54% increase in net sales attributed primarily to Greenlane Brands product sales.

Jumping straight into February, Scotts Miracle-Gro Company (NYSE:SMG) released its fiscal fourth quarter financial results that showcased profitable territory in the U.S consumer segment for the second time ever. However, overall sales dropped 24% year-over-year. Along with SMG's earnings announcement, the company noted plans to restructure Hawthorne, its hydroponic subsidiary in an effort to appeal to investors seeking cannabis companies. In an effort to support this major move into the cannabis market, Scotts Miraccle-Gro has allocated about $200 million to use toward strategic acquisitions this year.

Canopy Growth Corporation (NASDAQ:CGC) subsidiary, BioSteel Sports Nutrition Inc., announced a handful of retail deals on Tuesday resulting in BioSteel Sports Nutrition drinks being available at approximately 15,000 stores in the U.S. The Clean. Healthy. Hydration. drink lineup will hit shelves at major retailers right away. Subsequently, on Thursday, Canopy Growth launched two new beverages and hard candy under its Ace Valley brand portfolio.

PepsiCo, Inc. (NASDAQ:PEP) avoided all the legal red tape of THC- and CBD-infused beverages by launch a hemp-infused beverage line called Rockstar Unplugged on the first of February. While most consumers of energy drinks are younger men, this new PepsiCo beverage is designed to attract young women. According to PEP, ″[Hemp seed] doesn’t have any functionality, it comes from an herb. Imagine you’re drinking an herbal tea, with caffeine. That’s it.”

On Tuesday, The Valens Company (NASDAQ:VLNS) announced that the company's virtual Investor Day will be held on February 7 at 11:00 a.m. ET. Valens' senior leadership team plans to discuss 2022 opportunities as well as updating investors on current progress of existing initiatives.

High Tide Inc. (NASDAQ:HITI) missed the January 31 deadline to file audited financial statements for fiscal 2021 and 2020. According to HITI, the missed deadline is a result of ongoing pandemic-related personnel shortages. However, by February 3, High Tide confirmed the completion of submitting its audited annual financial statements to bring the cannabis company back in good standing with the securities commission and exchanges, as well as avoiding regulatory sanctions.

WM Technology, Inc. (NASDAQ:MAPS) announced on Tuesday that the cannabis tech company will release its fourth quarter of 2021 financial results on Wednesday, Feb. 23, after the market closes.

Aurora Cannabis Inc. (NASDAQ:ACB) announced on Tuesday that the cannabis company will release its second quarter of fiscal 2022 financial results on Thursday, Feb. 10, after the market closes. Later in the week, on Thursday, Aurora launched a new CBD product line named KG7 to be sold online and in convenience stores in the U.S. According to ACB, "As part of Reliva's portfolio expansion strategy, KG7 extends our brand into additional CBD market segments. With this product line, we expect to solidify Reliva's position as the #1 CBD brand in brick and mortar channels."

On Wednesday, Agrify Corporation (NASDAQ:AGFY) acquired Lab Society, a major player in the cannabis extraction industry. According to Agrify's CEO, "As federal legalization edges closer to reality, we believe the United States government will likely increase its role in setting the quality, consistency, and safety standards for medical and recreational cannabis products. By owning the top key solutions that produce the highest quality and the widest range of extracted cannabis products at scale, we expect it will provide Agrify with a significant competitive differentiation, enhanced customer value-add, superior industry leadership position and significant growth opportunities globally.”