Six Cannabis Stocks Getting Busy Ahead Of A 'Green Christmas'

Green Christmas for Cannabis stocks

Welcome back to our weekly series, Schaeffer's Cannabis Stock News Update, where we recap what happened in the world of marijuana stocks this past week and look ahead to how the cannabis industry will develop in the new year.

Investor interest in the cannabis industry continues to grow, and the leading players continue to break through legal barrier after legal barrier. More than 40 U.S. states have legalized recreational and/or medical marijuana as we close out the year. As such, more and more companies are starting to see the opportunity in cannabis distribution, suggesting there are many more marijuana initial public offerings (IPOs) on the horizon for the marijuana stock industry.

The U.S. Food and Drug Administration (FDA) made headlines in the world of cannabis this week. The FDA sent warning letters to five companies on December 22 to immediately stop the unlawful sales of CBD products that violate the Federal Food, Drug, and Cosmetic Act. These companies include Bee Delightful, G&L Wellness, New Leaf Pharmaceuticals, NextL3vel Services Group, and Wellness BioSciences.

According to the CEO of Black Dog LED, cannabis is recession-proof. In a recent press release, Grand View Research has projected that the worldwide legal marijuana market will reach $146.4 billion before the end of 2025. And the Covid-19 pandemic has not kept cannabis companies down. The Journal of Addictive Diseases released a study recently that confirmed people are choosing cannabis when attempting to cope with the stressors of the pandemic.

Here is a quick roundup of major cannabis stock news this week (Dec. 21 through Dec. 24):

Canopy Growth Corporation (Nasdaq: CGC)announced on December 21 that it has entered into an agreement with its wholly-owned subsidiary The Tweed Tree Lot, Canopy Rivers, and its wholly-owned subsidiary Canopy Rivers Corporation (CRC). Canopy Growth will acquire certain assets from CRC, in exchange for cash, common shares in the capital of Canopy Growth, and the surrender of all shares in the capital of Canopy Rivers held by Canopy Growth by way of a plan of arrangement under the Business Corporations Act.

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