Trump and Schumer's Support of Marijuana Could be a Major Catalyst for These Companies
LAS VEGAS, April 23, 2018 /PRNewswire/ --
FN Media Group Presents Microcapspeculators.com News Commentary
On April 13th President Donald Trump announced unprecedented support of legalizing marijuana. This is a very big step for companies that are researching CBDs and other cannabidiol products for consumers, and patients. Jeff Sessions, the current Attorney General, has been extremely anti-marijuana, but Trump is in support of states' rights to decide their own marijuana laws.
Just days later, Chuck Schumer and the democrats introduced legislation to decriminalize marijuana on the federal level. This is extremely important as it pertains to the ability of firms to research marijuana and, more importantly, cannabinoids. These moves by democrats, and the President, could be a massive catalyst for companies involved in the CBDs.
Some companies that are researching CBD and other cannabinoids include: NightFood Holdings, Inc. (OTC: NGTF), GW Pharmaceuticals plc (NASDAQ: GWPH), INSYS Therapeutics, Inc. (NASDAQ: INSY), Terra Tech Corp. (OTC: TRTC), and General Cannabis Corp. (OTC: CANN).
NightFood Holdings, Inc. (OTC: NGTF)
Market Cap: $16.04M, current share price: $.419
NGTF the category leading, better-for-you, sleep-friendly nighttime snack company, had two major news releases in the last week. In January of 2018, MJ Munchies, Inc. a wholly owned subsidiary of NGTF, filed with the United States Patent and Trademark Office for trademark protection related to the Half-Baked™ brand. Shortly thereafter the company acquired HalfBaked.com.
On April 16th NGTF announced that it has identified its first licensing partner in the state of California for THC- infused edibles through its Half-Baked trademark. On April 20th NGTF announced that the licensing agreement had been finalized and executed, and the initial production run of Half-Baked cannabis-infused cookies should be on shelves in May of 2018. The company views this initial licensing agreement and production run as the first step to licensing the Half-Baked™ brand to licensees in states across the country, turning Half-Baked into a national edibles brand. The company's CEO stated "We think Half-Baked™ is simply the best brand name in the space."
GW Pharmaceuticals plc (NASDAQ: GWPH)
Market Cap: $3.735B, current share price: $136.62
GWPH, a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform, received the nod for an FDA panel for the company's cannabidiol product. Paving the way for the drug Epidiolex to be the first cannabis-based drug nearing FDA approval. The FDA panel voted 13-0 in favor of GW's drug, and Cowen analysts have said to expect $1.3 bln in sales by 2022.
INSYS Therapeutics, Inc. (NASDAQ: INSY)
Market Cap: $518.6M, current share price: $6.96
INSY a leader in the development, manufacture, and commercialization of pharmaceutical cannabinoids recently announced that the company would advance clinical research of Dronabinol Inhalation using novel breath-actuated device. The company's security is down more than 50% from it's 52 week-high.
Terra Tech Corp. (OTCQX: TRTC)
Market Cap: $205.8M, current share price: $3.15
TRTC, a vertically integrated cannabis-focused agriculture company, reported record revenues for the period ending December 31st, 2017. The company's security is down approximately 66% from its 52 week-high.
General Cannabis Corp. (OTCQB: CANN)
Market Cap: $148.1M, current share price: $4.18
CANN, recently announced that the company had closed a private financing. The company issued $5.54 million of senior secured promissory notes and an aggregate of 4,432,000 warrants to purchase common stock at the closing. The proceeds of this debt raise will be used primarily to fund the Company's expansion and for working capital. The company's CEO stated "This new capital raise will allow us to continue to deliver increased value to our shareholders."
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