The FDA warned five companies that are illegally selling food and beverage products with CBD. New York issued 36 adult-use retail licenses and will delay the current 10 medical operators from opening adult-use stores. Canadian sales of cannabis were higher than expected in September but flat with August at C$389.9 million, up 12.2% from a year ago.
I distributed this written material to 420 Investor subscribers during the week:
Here are some of this week's highlights for Focus List names:
Please check the Focus List, (which has technical, fundamental and valuation ratings as well as a market-cap table). To help track market caps, we maintain tables for the Canadian LPs and the American cannabis operators and ancillary companies.
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The Global Cannabis Stock Index remained far above its all-time closing low of 11.26 from 9/30. It rose to 13.37 this Friday, ending unchanged during the week. This was a little worse than the 1.5% gain in the S&P 500, which is up 4.0% so far in November. The cannabis index has rallied 1.4% this month-to-date, behind the S&P 500, and it has rallied 18.7% thus far in Q4. This is more than the 12.3% return in the S&P 500.