The US marijuana index saw higher volume in April, while the Canadian one continued trending downward, according to data from the Marijuana Index.

The US index saw a 19-percent increase last month thanks in part to former Speaker of the House John Boehner’s announcement that he would be joining the advisory board of cannabis operator Acreage Holdings, reversing his past stance on the drug.

“Six constituents gained more than 20 [percent] and 10 companies overall gained more than 10 [percent],” the Marijuana Index wrote.

According to the firm, the biggest gainers on the US index in April were General Cannabis (OTCQB:CANN) with a 96-percent return, and CV Sciences (OTCQB:CVSI) with a 60-percent return.

Over the border, the Canadian index didn’t fare as well during April. The Canadian index saw a 9-percent decrease, while 80 percent of its constituents operated in the red. This index is comprised of 24 constituents and covers a wide range of cannabis stocks.

Meanwhile, the overall North American Index, which is a combination of the two indexes, managed a 3-percent increase during the month.

“Canada’s stock market experienced mix results in April, with the S&P/TSX Venture Index, Canada’s leading small-cap index, decreasing 1.6 [percent],” said the Marijuana Index. “The average trading volume of constituents on the Canadian Marijuana Index decreased 16 [percent] in April.”

Two Canadian producers most active stocks in index

According to the Marijuana Index, April’s most active cannabis stocks were Canopy Growth (TSX:WEED) and Aurora Cannabis (TSX:ACB). The two Canadian licensed producers ended the month down.

GW Pharmaceuticals (NASDAQ:GWPH) was the most active American stock in the index. The company is working on an investigational cannabidiol (CBD) oral solution known as Epidiolex; it is aimed at treating seizures associated with Lennox-Gastaut syndrome and Dravet syndrome.

The company’s movement can be credited to its receipt of a unanimous recommendation for the approval of its New Drug Application from the Peripheral and Central Nervous System Drugs Advisory Committee of the US Food and Drug Administration. If approved, this would be the first cannabis-based treatment federally approved by the agency.

During April, two of the top cannabis ETFs available to investors saw little to no gains. The Horizons Marijuana Life Sciences Index ETF (TSX:HMMJ) increased in value by a marginal 0.98 percent, while the Evolve Marijuana ETF (TSX:SEED) decreased 1.9 percent, representing a C$0.33 loss for investors.

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.

In the cannabis space this week, retailer Fire & Flower Holdings (TSX:FAF,OTCQX:FFLWF) told investors it will be entering the US market through a novel strategic action.

Meanwhile, two longstanding cannabis partners ended their relationship.

Keep reading... Show less

Trulieve to donate $20,000 in scholarship funding and $15,000 to support leadership development

Trulieve Cannabis Corp . (CSE: TRUL) (OTC: TCNNF), a leading and top-performing cannabis company in the United States today announced a new partnership with the Thurgood Marshall College Fund (TMCF), the nation’s largest organization exclusively representing the Black College Community. Trulieve will donate $20,000 to help fund several college scholarships awarded to students who are attending one of the organization’s member-schools as part of Trulieve’s diversity, equity, and inclusion initiatives. The $15,000 in talent funding is earmarked to support TMCF’s internship program, reaching a diverse talent pool of students and alumni from their 47 member-schools to provide immersive experiences at Trulieve.

Keep reading... Show less

The new dispensary expands patient access to Florida’s largest inventory of medical cannabis products

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company based in the United States announced today the opening of a brand-new Florida dispensary, the Company’s 80th nationwide. The new location marks the Company’s first in Tamarac and third in Broward County expanding patient access to Florida’s largest and broadest assortment of high-quality medical cannabis products.

Keep reading... Show less

Revive Therapeutics Ltd. (“Revive” or the “Company”) (CSE: RVV, USA: RVVTF), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, is pleased to announce an update on the Company’s U.S. Food & Drug Administration (“FDA”) Phase 3 clinical trial (the “Study”) to evaluate the safety and efficacy of Bucillamine in patients with mild to moderate COVID-19.

With its recent $23 million dollar financing, the Company plans to aggressively expand from 14 clinical sites to up to 50 clinical sites to meet the next enrollment goals for the Study in Q2-2020. The Study is a randomized, double-blinded, placebo-controlled trial and the safety and efficacy data analyzed at each interim analysis timepoint of 210, 400, 600 and 800 completed patients are only made available to the Independent Data and Safety Monitoring Board (“DSMB”) for review and recommendations on continuation, stopping or changes to the conduct of the Study. In the event of any serious safety concerns, the DSMB would be notified to determine any risks and provide its recommendations. To date, in this initial 210 interim point there have been no serious safety concerns that required the DSMB to be notified.

Keep reading... Show less

HempFusion Wellness Inc. (TSX:CBD.U) (OTCQX:CBDHF) (FWB:8OO) (“HempFusion” or the “Company”), a leading health and wellness CBD company utilizing the power of whole-food hemp nutrition, is pleased to announce that its common shares have been approved for DTC full-service eligibility in the United States by the Depository Trust Company (“DTC”) and can now be both traded and serviced through DTC’s electronic book-entry system.

DTC is a subsidiary of the Depository Trust & Clearing Corp. (“DTCC”) that provides clearing and settlement services for the financial markets and settles the majority of securities transactions in the United States. This electronic method of clearing securities speeds up the receipt of stock and cash and thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms.

Keep reading... Show less