Shares of Canopy Growth Corporation (OTCMKTS: TWMJF) dropped 5.4% yesterday, after more negative comments out of the White House. Attorney General Jeff Sessions said today: “I don’t think America is going to be a better place when people of all ages, and particularly young people, are smoking pot.” If you recall, marijuana stocks have been on a strong run in 2017, however; over the last week or so, some negative comments out of the White House have caused these stocks to cool off. It’s important to note that volume was relatively light.
According to OTC Markets, the stock over the last 30 days has been trading about 321K shares per day, however; 295K shares traded today. Canopy Growth Corporation (OTCMKTS: TWMJF) is in the pot growing business, and the largest company in the space with nearly $1B in market cap. The stock price has recently sold off from 52-week highs, which was $14.39 per share on November 16, 2016.
With that said, we’ve seen an increase in volatility in pot stocks, including Canopy Growth Corporation (OTCMKTS: TWMJF). In less than a week, we’ve gotten negative comments out of Attorney General Jeff Sessions and White House Press Secretary Sean Spicer.
Canopy Growth Corporation has been trading between $1.84 to $14.39 over the last 52-weeks. The company stock price closed at $8.9059, down over 50 cents on the day.
About Canopy Growth Corporation
Canopy Growth Corporation is a world leading diversified cannabis company. We operate a collection of diverse brands and curated strain variety, supported by over a half a million square feet of indoor and greenhouse production capacity, partnered with some of the leading names of the sector.
Most Recent Headline:
FinancialBuzz.com: Cannabis Market Creating Jobs
NEW YORK, February 23, 2017 /PRNewswire/ —
The fast-growing cannabis market is expected to create more jobs in the United States. According to the 2017 Legal Marijuana Outlook, published by New Frontier Data, the cannabis industry is expected to create 283,422 jobs by 2020, with an implied growth rate of more than 17 percent compounded over the next four years. The accelerating pace of cannabis legalization is considered as the main factor that drives the growth of legal cannabis market, which will further create more business ventures and boost the economy. Earth Science Tech, Inc. (OTC: ETST), Cannabis Sativa Inc. (OTC: CBDS), OWC Pharmaceutical Research Corporation (OTC: OWCP), Canopy Growth Corporation (OTC: TWMJF), Mentor Capital Inc. (OTC: MNTR)
Giadha Aguirre De Carcer, Founder and CEO of New Frontier Data, said, “While we see a potential drop in total number of U.S. jobs created in 2017, as reported by Kiplinger, as well as an overall expected drop in GDP growth, the cannabis industry continues to be a positive contributing factor to growth at a time of potential decline, however, with a projected total market sales to exceed $24 billion by 2025, and the possibility of almost 300,000 jobs by 2020, it remains a positive economic force in the U.S.”
Just this morning Earth Science Tech, Inc. (OTC: ETST) announced that it, “has begun composition work on its two (2) new Cannabis Cannabinoid-Based pharmaceutical drugs and has initiated patent studies on its three (3) new nutraceutical products. This is the first project Earth Science Tech and its wholly owned subsidiary, Cannabis Therapeutics, are working with Smart Medicines GMP on as a result of the Company’s recently finalized joint venture.
Earth Science Tech and Cannabis Therapeutics two (2) new Cannabis Cannabinoid-Based pharmaceutical drug formulations (compositions) are expected to be completed by summer 2017, with non-prescription nutraceuticals being available for sale before the end of the year and the pharmaceutical-grade products being launched in the first or second quarter of 2018. Earth Science Tech and Cannabis Therapeutics initial patent-pending Cannabinoid-Based nutraceutical product/products being developed seek to offer a broad spectrum of health protection, including immune system strengthening properties and strong antioxidant properties among a variety of other heath & overall wellness benefits. Another nutraceutical Cannabinoid-Based product in the pipeline seeks to improve and protect brain and liver function, which can improve the quality of life for patients, especially those experiencing harsh side effects from traditional medicines. The final nutraceutical to be developed is a prophylactic that aims to prevent some of the more common causes of cancer to help reduce occurrence rates.
“We are very excited to be making such big strides in our relationship with Smart Medicines GMP after such a short time,” said CEO, Dr. Michel Aubé, “We are building products that we feel could find mass-market acceptance, as they will leverage the well-documented strengths of several existing drugs.”
Earth Science Tech and its wholly owned subsidiary, Cannabis Therapeutics, have been working zealously with Smart Medicines GMP, to invent & launch these Two (2) New Cannabinoid-based Pharmaceutical drugs and Three (3) New Advanced Cannabinoid-based Nutraceutical products using Earth Science Tech’s existing Cannabis CBD Patent, IP, Invention, Technology and future Technology. ETST’s International Application (PCT) for its Provisional Patent named “Cannabidiol Compositions Including Mixtures and Uses Thereof” was filed on October 8th, 2015 in regards to its Cannabis Hemp CBD (Cannabidiol) Oil. This application claims the benefit of ETST U.S. Provisional Application N. 62/061,577, filed October 8, 2014 and ETST U.S. Provisional Application No. 62/102,538, filed January 12, 2015.
Per Earth Science Tech’s recent joint venture release with Smart Medicines GMP, Smart Medicines is equipped with a state-of-the-art laboratory and research facilities with high tech equipment and botanical extraction units. Smart Medicines will focus heavily on the research and development tasks associated with new product development. This partnership will help position Cannabis Therapeutics to be a global leader in the cannabis industry and in cannabinoid research and development. Cannabis Therapeutics’ imminent new developments and efforts have the potential to expedite our numerous upcoming cannabis cannabinoid-based therapeutic products to help aid people with certain conditions and disorders worldwide, in the later part of 2017. ETST is focused on cannabinoid-based therapeutic drugs, functional foods and nutraceuticals (retail consumer markets worldwide)…Smart Medicines is run by Dr. Domenico Fuoco, who recently joined the Advisory Board of Cannabis Therapeutics, Inc. (an Earth Science Tech subsidiary). Dr. Fuoco has over 16 years of extensive experience in developing innovative solutions for the pharmaceutical and nutraceutical industries in addition to his current status as a professional formulator.”
Cannabis Sativa Inc. (OTCQB: CBDS) develops and promotes natural cannabis products. The Company is engaged in the research, development and licensing of natural cannabis products, including cannabis formulas, edibles, topicals, strains, recipes and delivery systems. The Company plans to develop, produce and market products through joint ventures with companies licensed under state regulations applicable to cannabis businesses. It holds the license for a medicinal cannabis strain called NZT, a cannabis lozenge delivery methodology, and a cannabis trauma cream formula. The Company is also developing a third strain of cannabis plant named CT22. The Company also conducts its operations through its subsidiary, Wild Earth Naturals, Inc. Wild Earth is an herbal skin care products formulation and marketing company that plans to target the natural healthcare products market in the United States and abroad. It offers Go Deep, Go Deep EXTRA, Face Garden, Body Garden and Lip Garden.
OWC Pharmaceutical Research Corporation (OTCQB: OWCP) is engaged in the business, through its wholly-owned Israeli subsidiary, One World Cannabis Ltd., of conducting medical research and clinical trials, in full compliance with all international regulatory protocols, for the development of cannabis-based products and treatments specifically designed for multiple myeloma, psoriasis, fibromyalgia, PTSD, migraines, and of a unique delivery system. The Company also provides consulting services to governmental and private entities to assist them with developing and implementing various medical cannabis programs. All OWC research is conducted at leading Israeli hospitals and scientific institutions, and led by internationally renowned investigators.
Tweed Inc., a wholly-owned subsidiary of Canopy Growth Corporation (OTC: TWMJF) announced that it has completed an intensive process of sourcing a diverse genetic seed bank and legally importing it into Canada. Tweed will begin selling cannabis seeds to authorized home growers under the Access to Cannabis for Medical Purposes Regulations in early March. Kevin Furet, Tweed’s Master Grower and an award-winning breeder in his own right, curated a collection of genetics with lineages originating all around the world. The resulting Tweed HomeGrow Collection is made up of ten seed types designed to meet the diverse needs of patients. “I was aiming for quality and diversity in this collection,” said Furet. “Medical cannabis patients have diverse needs so I wanted to create a collection that matched that diversity. I see ten options as a starting point that we can build on using our own cross breeding capabilities in our custom breeding area.”
Mentor Capital Inc. (OTCQB: MNTR) is a public operating company that acquires and provides liquidity for medical and social use cannabis companies. Mentor Capital participates in the legal recreational marijuana market, with its main focus on medical and the company seeks to facilitate the application of cannabis to cancer wasting, calming seizures, Parkinson’s disease, reducing ocular pressures from glaucoma and blunting chronic pain. Its portfolio includes Agenus Inc., Brighter Day Health, CannaVest, CEL-SCI Corporation, Pfizer Inc., Vical Incorporated, and more.
Even the largest player in the game isn’t immune to comments coming out of Washington. President Trump will be addressing Congress later this evening. It will be interesting to hear what he has to say about the matter, if the topic is brought up. Now, If you’d like to keep up with OTC stocks like TWMJF, make sure to sign up to our newsletter below. It’s a simple and easy way to stay in touch with what’s going on in the markets.