CORAL GABLES, FL / ACCESSWIRE / December 12, 2018 / Marijuana stocks are in a very bright spotlight today as one of the biggest deals in the history of this emerging industry has been made. It was formalized this month that Altria (MO), owner of Marlborough maker Philip Morris put a near $2 billion bet on legal cannabis. With this confirmation, cannabis stocks are getting a big boost.
Four leading cannabis stocks to watch after this big development: Premier Health Group (PHGRF) (PHGI), Marijuana Company of America (OTCQB: MCOA), Medical Marijuana, Inc. (OTC PINK: MJNA), and Charlotte's Web (OTCQX: CWBHF)(CNSX: CWEB).
Premier Health Group (PHGRF) (PHGI) recently engaged discussions with Licensed Producers under the Access to Cannabis for Medical Purposes Regulation, other licensed medical cannabis companies, and government officials in order to establish a framework for both patient and physician education. Furthermore, the Company is actively recruiting additional physicians for its existing clinics and a cannabis focused physician that is licensed in Canada.
The company announced this week that as a part of its growth strategy to cover the major verticals associated with primary care, it has signed a binding Letter of Intent to acquire a Vancouver, British Columbia based pharmacy. Premier Health Group (PHGRF) (PHGI) said that it expects the acquisition to close in or about Q1-19.
"We are excited for this opportunity to acquire our first pharmacy, and thereafter being able to prepare and deliver prescription and non-prescription pharmaceuticals and other health products to patients. In doing so, the pharmacist will play an integral role in our team-based patient centric model," said Dr. Essam Hamza, CEO of Premier. " Premier has engaged with patients, pharmacies and technology providers to not only introduce pharmacy services as a component of our comprehensive telemedicine app, but also to explore and implement efficiencies in fill and fulfillment."
Premier Health Group (PHGRF) (PHGI) has established a considerable patient roster as well. To put it into perspective, Canopy Growth reported 84,400 registered patientsat September 30, 2016. Furthermore, in its latest financial report, Aurora Cannabis for example, reported that it had 67,484 active registered patients and this was up from roughly 43,000 during the prior quarter. Premier has previously stated that it currently has over 100,000 active patients.
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Marijuana Company of America (MCOA) saw its shares rally during the afternoon session on Wednesday. Since hitting lows of $0.0115 earlier this month, today the company's shares topped highs of $0.0267.
This morning Marijuana Company of America announced that it had upgraded its trading tier on the OTC Markets to the OTCQB Venture Marketplace.
"Our Company will continue to be aggressive in executing our business plan and we believe this is a necessary step to help legitimize MCOA as one of the top fully reporting public cannabis companies involved in the hemp-derived CBD sector. MCOA will continue to expand our operations in the U.S. as well as launch our hempSMART™ product line internationally in 2019," said CEO Donald Steinberg.
This news came on the heels of its launch of a new corporate hempSMART™ website and marketing platform for its associates, which was announced earlier this week.
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Medical Marijuana, Inc. (MJNA) shares also saw a boost on Wednesday. The company's subsidiary Phyto Animal Health announced today that it will be sponsoring and exhibiting its line of cannabidiol hemp oil animal products at Fetch DVM360, taking place in San Diego from Dec. 13-16. Stephen Cital, Phyto Animal Health Advisory Board Member, will also be at the conference and will be giving three different presentations about cannabis for pets.
"We are proud to be exhibiting and speaking at Fetch DVM360, as the conference aims to educate veterinarians and pet owners on the most recent science behind animal health, including the benefits of hemp CBD in animal treatment," said Phyto Animal Health CEO Ian Quinn. "Phyto Animal Health is proud to offer our line of premium hemp CBD products to owners aiming to give their pets the highest quality of life."
Shares hit highs of $0.084 during the afternoon session on Wednesday.
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Charlotte's Web (CWBHF)(CWEB) recently reported Q3 revenue of $17.7 million on 57% year-over-year growth. In addition, its year-to-date revenue reached $48.0 million with 34% Adjusted EBITDA.
"During the third quarter we completed a successful initial public offering and private placement that generated significant capital for the Company that is being deployed to accelerate our growth in the hemp-derived CBD sector," said Hess Moallem, President and Chief Executive Officer. "A successful passing of the forthcoming 2018 Farm Bill by the US Congress will be a catalyst for the growth in our industry adding further momentum to the evolving market sector."
Shares of the company reached 2-week highs of $12.62 on Wednesday to mark its 5th consecutive bullish trading day this month.
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