Investor Caution Urged, Future of Cannabis Industry Unclear
$GWPH, $INSY, $ACBFF, $AXIM, $SLTK
Looking for The Trump Administration to crack down on Recreational Marijuana
The cannabis industry analysts urge caution, saying it is difficult to estimate how many marijuana businesses will be shuttered by the strict Law & Order Trump Administration DOJ as begins enforcing federal laws that classify marijuana as an illegal drug, couple that with the huge crops that growers may be forced to destroy.
We wait, we see…
For the week ended Friday, 24 February 2017, the spot price for a pound of cannabis fell 1.9% from 1,649 in the previous week to 1,618. According to the published data: average price for a gram of cannabis fell from 4.16 to 3.93.
For March unch at 1,650 lb
For April unch at 1,700 lb
For August unch at 1,575 lb
The data revealed about 67% last week’s transactions: range of 1,128 to 2,438 lb.
Indoor flower prices ranged from 899 – 5,200 lb, median price 1,700.
Greenhouse flower prices ranged from 1,100 – 3,200 lb, median price 1,600.
Outdoor flower prices ranged from 700 – 2,000 lb
The median price was 1,500 lb.
Industry analysts commented on White House press secretary’s comments on federal enforcement of marijuana-control laws.
The takeaway: Sean Spicer’s statement is ominous to those involved in state-legal adult-use cannabis markets. However, they do align with the anti-cannabis views of Attorney General Jeff Sessions. Meantime, most cannabis businesses will continue to operate as the Trump Administration’s enforcement policies come forward.
Marijuana price check:
The average price for a gram of marijuana (all strains) was as follows:
Colorado: av 12.01, range 15.00 – 8.00
California: av 13.96 range 17.00 – 11.00
Michigan: av 14.55 range 20.00 – 10.00.
Oregon: av 11.15 range 25.00 – 4.00.
Data for Washington State: N/A
Here is a list of some Top companies in the cannabis industry, as follows:
GW Pharmaceuticals: GW Pharmaceuticals PLC (NASDAQ:GWPH) is a bio-pharmaceutical company that develops and commercializes therapeutics using a proprietary cannabinoid product platform. The company is included in the Nasdaq biotechnology index.
Insys Therapeutics: Insys Therapeutics Inc. (NASDAQ:INSY) is a bio-pharmaceutical company that has had 2 cannabis-based drugs approved by the US FDA. The most recent drug approval, Syndros, boosts appetite for cancer and AIDS-related patients suffering from weight loss.
Aurora Cannabis: Aurora Cannabis Inc. (OTC:ACBFF) trades on Toronto’s venture exchange and is another Canadian company focused on growing and selling medical marijuana. It grows both psychoactive THC products and medically oriented CBD products.
Axim Biotechnologies: Axim Biotechnologies Inc. (OTCQB:AXIM) is a biotech firm developing cannabidiol-based treatments for pain, spasticity, anxiety and other medical disorders. At one time this year, the stock was up 2,000% on high-hopes for Axim’s product pipeline.
Solis Tek Inc. (OTCMTK:SLTK) is an importer, distributor and marketer of digital lighting equipment for the hydroponics industry. The company focuses on the research, design, development and manufacturing of advanced, energy efficient indoor/greenhouse horticulture lighting and ancillary equipment. Solis Tek Inc. is based in Carson, California.
Have a terrific week