Weekly cannabis sector summary


The central theses:

  • Akerna Corp. Acquires 365 Cannabis for $ 17 Million to Build the Most Comprehensive ERP System in the Cannabis Industry.

  • HEXO Corp. achieves CO2 neutrality.

  • Fire & Flower Holdings Corp. announces its financial and operating results for the second fiscal quarter ended July 31, 2021. Reports of completed acquisitions of PotGuide and Wikileafs Digital Assets followed.

  • Cantor Fitzgerald retains Tilray, Inc.’s overweight rating with a price target of $ 18-19.

  • Creso Pharma Limited is expanding its European market presence after launching a new e-commerce channel.

  • The former GOP congressman who supported marijuana reform joins the cannabis industry when Red White & Bloom Brands Inc. names him to its board of directors.

  • Awakn Life Sciences takes over leading clinic for ketamine-assisted psychotherapy in Norway.

  • Missouri spends millions in medical marijuana tax revenue to support veterans programs.

  • Neptune Wellness Solutions Inc. & Forian Inc. are among the top winners in the cannabis sector this week.

Top cannabis gainers for this week

# 1: Neptune Wellness Solutions Inc. (TSE: NEPT)

Neptune Wellness Solutions Inc. (NEPT) (NEPT.TO) is an integrated health and wellness company. The company provides product development and supply chain solutions to corporate customers in a variety of health and wellness industries such as legal cannabis and hemp.

This week, Neptune Wellness was among the top winners in the cannabis sector. On Friday, September 17th, NEPT shares closed 16.07% at $ 0.65 with an estimated market cap of $ 108.7 million. Although $ 0.65 is slightly lower than the $ 1 minimum requirement for companies listed on NASDAQ, NEPT has a chance of hitting the $ 1 price point soon.

# 2: Forian Inc. (NASDAQ: FORA)

Forian Inc. (FORA) provides a suite of software solutions, data management capabilities, and proprietary data and predictive analytics to optimize and measure operational, clinical and financial performance for customers in the healthcare and cannabis industries, as well as cannabis pharmacies and breeders, manufacturers and distributors. The company is headquartered in Newtown, Pennsylvania.

The story goes on

Forian Inc. was another top winner in the cannabis sector this week. On Friday, FORA shares closed 10.79% at $ 11.50 and an estimated market cap of $ 374.4 million. On Saturday, it was announced that Forian director Martin Wygod had just bought a few more shares. It was reported that he paid $ 9.96 per share to buy the $ 118,000 stock. This means that investors should be interested in Forian Inc. as insider buying is a positive sign and suggests that insiders believe the stock is undervalued.

Top Cannabis Stocks To Watch Out For

# 1: Akerna Corp. (NASDAQ: CORE)

Akerna Corp. (KERN) provides enterprise software solutions that enable regulatory compliance and inventory management in the United States and Canada. The company offers MJ Platform, an enterprise resource planning compliance system for the cannabis industry, including the federally approved marijuana, hemp, and CBD industries.

On September 13, Akerna announced that they had signed an agreement to acquire 365 Cannabis, a cannabis business management software system based on Microsoft’s Dynamics 365 Business Central, in a $ 17 million deal.

As a result of the acquisition, 365 cannabis customers will have access to Akerna’s Compliance Gateway, feature-rich reports, MJ Retail POS, and the recently launched Akerna Connect. Akerna has teamed up with SAP, Sage Intacct and other leading providers of integrated financial and tax planning to offer cannabis operators a solution for every phase of their development – from startup to multistate operator (MSO) – while also complying with legal requirements via the compliance gateway from Akerna. Cannabis 365 customers include Pharmacann, Nectar, Revolution, Sundial (NASDAQ: SNDL), Kiaro (TSXV: KO), and many others.

# 2: HEXO Corp. (TSE: HEXO)

HEXO Corp. (HEXO) (HEXO.TO) is an award-winning license manufacturer of innovative products for the global cannabis market. The company manufactures, markets and sells cannabis through its subsidiaries in Canada.

On September 16, HEXO Corp announced that the company has achieved carbon neutrality and is offsetting 100% of its operational CO2 emissions in 2020 in addition to the personal emissions of its 1,200 employees.

HEXO has partnered with Offsetters, a Vancouver-based organization that supports renewable energy and forest carbon projects around the world, to help offset their carbon footprint. In order to achieve CO2 neutrality, HEXO offsets a total of 25,965 tons of CO2 – 19,610 tons of operational CO2 emissions and 6,355 tons of personal CO2 emissions of its employees – this corresponds to 3.55 million plastic bottles. In addition to CO2 emissions, HEXO is working with its primary packaging supplier Dymapak together with Plastic Bank to counteract the use of plastic in its packaging.

# 3: Fire & Flower Holdings Corp. (TSE: FAF)

Fire & Flower Holdings Corp. (FFLWF) (FAF.TO) is an independent retailer selling cannabis products and accessories through its retail locations in the provinces of Alberta, Saskatchewan, Manitoba, Ontario and Yukon.

On Tuesday, September 14th, Fire & Flower Holdings Corp. announced its financial and operational results for the second fiscal quarter ended July 31, 2021. The financial news reported revenue growth of 51% in the second quarter to $ 43 million with a fifth consecutive quarter of positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $ 3.1 million.

A day after the financial announcement, Fire & Flower announced the completion of its previously announced acquisitions of all shares issued and outstanding in PGED Corp (PotGuide), one of the world’s largest cannabis websites and content platforms. The company also announced that it has completed the acquisition of Wikileaf Technologies’ digital assets (Wikileaf), an online platform for cannabis enthusiasts and consumers.

# 4: Creso Pharma Limited (ASX: CPH)

Creso Pharma Limited (COPHF) (CPH.XA) develops, registers and markets pharmaceutical-grade nutraceuticals and cannabis and hemp-based treatments for human and animal health in Europe, the Middle East, America and the Asia-Pacific region.

On Monday September 13th, Creso Pharma announced that they had secured two new orders valued at A $ 337,577. Creso Pharma said the move would expand its European market presence.

The orders for the CannaQIX hemp seed oil lozenges and cannaQIX 50 lozenges from CPH came from the Swiss health product distributor MHG GmbH. MHG was founded in 2016 and focuses on the import and export of health and wellness products. MHG has extensive know-how in pharmaceutical product distribution and an established market presence with more than 3,500 international sales outlets.

# 5: Tilray, Inc. (NASDAQ: TLRY)

Tilray, Inc. (TLRY) (TLRY.TO) appeared in our article last week, and as described in the article, TLRY had a healthy week. On Friday, TLRY shares closed 1.33% at $ 12.17 with an estimated market cap of 5.5 billion.

Wall Street consensus on TLRY suggests the cannabis company’s stocks have significant upside potential. This week, Cantor Fitzgerald analyst Pablo Zuanic kept the overweight position on Tilray’s buy ratings and updated the price target for TLRY to $ 18.00; TLRY is currently trading at $ 12.17 and if the price climbed to $ 18 it would be a 50% gain.

# 6: Awakn Life Sciences Corp. (OTCMKTS: AWKNF)

Awakn Life Sciences Corp. (AWKNF) (AWKN.NE) was also presented in the last article. Awakn is re-appearing this week for announcing that they have signed a binding share swap agreement to acquire a 100% stake in Axonklinikken AS (Axon), a leading ketamine-assisted psychotherapy clinic in Norway.

As part of the transaction, Axon will be renamed “Awakn Oslo AS”. Axon’s majority shareholder, Dr. Lowan Stewart, has been appointed Regional Director for Scandinavia and Managing Director. Dr. Stewart was previously the founder and medical director of the Santa Fe Ketamine Clinic, the first ketamine treatment center in New Mexico. He has lectured internationally on ketamine for depression and is a member of the American Society of Ketamine Physicians.

The acquisition is part of Awakn’s clinic rollout program. Awakn will now pursue its regional expansion plans in Scandinavia (Norway, Sweden, Denmark, Finland and Iceland) as well as the United Kingdom and Ireland, areas with a combined population of 100 million and a GDP of US $ 5 trillion. Awakn Oslo AS will serve as the regional hub from which Awakn plans to expand into Scandinavia, in addition to the Bristol and London clinics that the company plans to open this fiscal year, which Awakn expects to see revenue from in the near future generate term.

Important news and reports that have developed in the cannabis sector over the course of the week

Missouri officials announced Thursday that they had transferred millions of dollars in medical marijuana tax revenue to support programs for military veterans.

This is the second round of cannabis funding for the Missouri Veterans Commission (MVC), bringing the total to $ 6,843,310. In total, the state has raised more than $ 113 million in medical marijuana sales since the pharmacies opened in October 2020, allowing regulators to raise big bucks in tax revenue that is now being used to aid military veterans programs.

In other news; On Friday, Red White & Bloom Brands Inc. (RWBYF) (RWB.CN) appointed Ryan Costello to the Board of Directors. Mr. Costello is a former Republican US Congressman (2015-2019, PA) and now a public policy advisor. As a Congressman, Mr. Costello had a consistent legislative record of co-sponsoring and voting for marijuana reform measures.

In the announcement, Brad Rogers, Chairman and CEO of RWB commented, “Mr. Costello will be a very welcome addition to the WARC board of directors as he brings a wealth of experience with solid acumen and complementary skills. He will also deepen the company’s representation in the United States, which is vital as federal cannabis policy is changing with many of the bills due to be presented to the House and Senate in the near future. “

Commented Mr. Costello, “I look forward to leveraging my 15+ years in government, legal practice and familiarity with cannabis policy to be a strategic resource for RWB as it positions itself as a true market leader Trademarks on the approved US marketplace. “

The weekly post-post roundup of the cannabis sector first appeared on Market Exclusive.