As investors await better performance from the cannabis stock market, September offered another critical update on the biggest scandal in the Canadian market.


During the month, Health Canada handed CannTrust Holdings (NYSE:CTST,TSX:TRST) a suspension for cannabis production. The company was originally found to have engaged in unlicensed growing at its Pelham, Ontario, facility in July.

The suspension directly led to a second provincial distributor issuing a return of all CannTrust product — following the ruling from Health Canada, the Alberta Gaming, Liquor and Cannabis Commission announced it would ask CannTrust to take back C$1.3 million worth of items.

A spokesperson for the provincial agency told the Investing News Network it would consider stocking product from the maligned producer at a later date if Health Canada reinstates its license.

CIBC begins covering three additional firms

John Zamparo, equity research analyst at CIBC Capital Markets, added Aurora Cannabis (NYSE:ACB,TSX:ACB), The Supreme Cannabis Company (TSX:FIRE,OTCQX:SPRWF) and Organigram Holdings (NASDAQ:OGI,TSXV:OGI) to his coverage of the cannabis space in September.

The analyst issued “outperformer” ratings for Supreme Cannabis and Organigram, while Aurora obtained a “neutral” rating for its stock.

“At Aurora’s valuation (second largest among the cannabis names), we wish to see greater balance sheet strength, the presence of key strategic partners or material exposure to the US CBD market,” Zamparo wrote in his note to investors.

Zamparo praised the brand recognition Supreme Cannabis has been able to achieve in the Canadian market. The analyst also remarked that Organigram offers investors a reasonable price point entry into the marijuana space.

Watch the video above to get the full details on cannabis highlights for the month of September.

Don’t forget to follow us @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.

Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Aurora Cannabis Inc. (NYSE: ACB) between February 13, 2020 and September 4, 2020, inclusive (the “Class Period”), of the important December 1, 2020 lead plaintiff deadline in the securities class action. The lawsuit seeks to recover damages for Aurora investors under the federal securities laws.

To join the Aurora class action, go to http://www.rosenlegal.com/cases-register-1965.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

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Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of Aurora Cannabis Inc. (NYSE: ACB) from February 13, 2020 through September 4, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Aurora Cannabis Inc. investors under the federal securities laws.

To join the class action, go here or call Vik Pawar, Esq. toll-free at 888-589-9804 or email info@pawarlawgroup.com for information on the class action.

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The Israeli cannabis market is picking up with a new supply deal from a Canadian producer.

Also this week, new data showed sales of Canadian cannabis edible products may be stalling.

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The Israeli cannabis market is picking up as a Canadian producer announced a new supply deal in the country.

Also this week it was shown the sales of Canadian cannabis edible products may be stalling, according to new data.

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The Portnoy Law Firm advises investors that class action lawsuits have been filed on behalf of investors in the following publicly traded companies. Shareholders interested in taking an active role in these cases have until the deadlines indicated below to petition the court. There is no cost or obligation to you. See below for more information on these cases.

Credit Acceptance Corporation investors (NASDAQ: CACC); December 1, 2020 deadline, click here to join .

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