Big Week In The Industry- Stocks and Entrepreneurs
Last week coming up to the holiday weekend was a big week for cannabis. Stocks started to surge and Jay-Z announced he will be getting into the Cannabis business.
These are some of the stocks that have made some big gains.
The Amplify Seymour Cannabis ETF (NYSE: CNBS): rose 14%
The Cannabis ETF (NYSE: THCX): advanced 14.5%
The AdvisorShares Pure Cannabis ETF (NYSE: YOLO): was up 15%
The ETFMG Alternative Harvest ETF (NYSE: MJ): gained 12%
The SPDR S&P 500 ETF Trust (NYSE: SPY) was up 1.5%.
In entrepreneur news, Jay-Z has said he is joining a newly created cannabis company that some people believe it will become the largest in California. The partnership was brought together between Caliva, Left Coast Ventures, Subversive Capital Acquisition Corp. (OTCQX: SBVCF) and Roc Nation, the entertainment company Jay-Z created in 2008.
Jay-Z is set to become "Chief Visionary Officer." This is one venture many will be keeping an eye on in the future.
More big new happening in Detroit. Where they just approved an ordinance that approves the licensing process for adult-use marijuana businesses. A unanimous vote by Council grants ability to license adult-use retailer establishments, growers, processors, safety compliance facilities, cannabis events, micro businesses, consumption lounges and transporters.
More stock news
Jushi Holdings Inc. (CSE: JUSH) (OTCQB: JUSHF) revenue totaled $24.9 million, 67% up over the quarter. They announced the company will double the amount of square footage of its subsidiary’s grower-processor facility in Scranton, Pennsylvania.
Vireo Health International Inc. (CSE: VREO) (OTCQX: VREOF) A physician-led cannabis company 68% up year-over-year.
Australian cannabis company Cann Group Limited (ASX: CANN) (OTC: CNGGF) announced Monday it was approval for credit by National Australia Bank for a $50 million secured debt facility.
Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) signed a deal to produce for Israel-based Cantek Holdings at least 4,000 kilograms of cannabis yearly.