The business of cannabis provided investors with a wide variety of different news and developments. Virtually everyday investors had new progress from new stocks, legislation and policy, and the potential of new markets overseas.
During 2017 the Investing News Network (INN) covered various different aspects of the cannabis business. From new licenses to public launches and more, INN
Below, INN takes a look back at the five most-read cannabis stories of the year. Scroll down to take a look at the stories that caught the attention of INN’s investor audience during 2017.
1. Supreme Receives Sales License, “It’s Been a Four Year Journey for Us,” Says President John Fowler
In July INN spoke with John Fowler, CEO of Supreme Pharmaceuticals (TSXV:FIRE) on the then recently obtained sales license under the Access to Cannabis for Medical Purposes Regulations (ACMPR) for their subsidiary 7ACRES.
“Getting the sales approval is obviously a large milestone day for Supreme. It’s something that we’ve been working on with the team at 7ACRES [since] the spring of 2013,” Fowler told INN.
INN had the opportunity to chat with Hugo Alves the president of Cannabis Wheaton Income on his role in the company as at the time an incoming new member of the company. Alves talked about the potential the streaming model had for them.
“I think if we can execute this business model, our investors will be exceptionally well and that sort of negative noise will go away,” Alves told INN when asked about the negative comment the company had received online and its impact on the company.
In March INN reported on Canopy Growth’s (TSX:WEED) inclusion healthcare sector of the S&P/TSX Composite Index (INDEXTSI:OSPTX). The announcement was significant because it signaled to a trend of the 2017 year for cannabis companies: an establishment in the market.
“In order to be eligible to list on the S&P/TSX Composite Index, companies must meet the certain market cap, liquidity and domicile requirements. They must also have been listed on the TSX for at least six months,” INN wrote.
Another maturity movement from the cannabis industry. In March we had questioned the possibility of a cannabis-focused exchange-traded funds (ETFs). Then a month later the Horizons Medical Marijuana Life Sciences ETF officially launched on the Toronto Stock Exchange (TSX).
The ETF currently has 10 holdings including Canopy Growth, Aurora Cannabis (TSX:ACB; OTCQB:ACBFF), Aphria (TSX:APH; OTC:APHQF) and MedReleaf (TSX:LEAF) amongst other cannabis stocks.
In September Canadian Securities Exchange (CSE) officially launched the CSE25 Index intended to largest companies on the exchange. From the initial group of companies, the top weighing companies were cannabis stocks.
The index included a variety of cannabis companies like Liberty Health Sciences (CSE:LHS), CannTrust Holdings (CSE:TRST) and CannaRoyalty (CSE:CRZ).
“[I]t is appropriate that we give market participants a benchmark that monitors the performance of our largest and most liquid issues,” Richard Carleton, CEO of the CSE said in the announcement.
Don’t forget to follow us @INN_LifeScience and @INN_Cannabis for real-time news updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.