Yahoo Finance MarijuanaStocks.com Reports on 3 Cannabis Stocks to Watch on Thursday
CORAL GABLES, FL / ACCESSWIRE / September 20, 2018 / Wednesday was one of the wildest days the cannabis sector has seen in months. Countless pot stocks had whipsaw moves and the market reacted to shifting momentum in some of the larger cannabis companies. Namely Tilray (TLRY) seemed to have initially directed the market's excitement following a series of late afternoon trading halts when the company's stock fell from highs of $300 to as low as $151.40.
Following these halts, Tilray along with many marijuana stocks began to bounce back just shy of the closing bell. Several new announcements and developments have sparked even more attention on the cannabis industry on Thursday with several companies to watch.
Integrated Cannabis Company (ICNAF) (ICAN)
Market Cap: $25.35M
Integrated Cannabis Company has been releasing a number of announcements regarding its expanded product offering for the recently acquired X-Sprays ™ product line. Today, however, the company announced new initiatives for distribution.
The company has completed a Letter of Intent to distribute X-SPRAYS™ products throughout the clinics and doctors' offices of Empower Clinics Inc. (EPW), a leading owner and operator of medical cannabis and wellness clinics in the United States. Integrated Cannabis will distribute all of its CBD-infused X-SPRAYS™ including; CBD, Sleep, Recover, Libido, and Energy throughout the Empower ecosystem.
As of August 31, Empower has more than 25,000 patients under care across 15 locations with medical cannabis treatments in Oregon, Washington, and Illinois. The patient base in Oregon represents approximately one-third of the state's total medical card issuance. In addition, Empower has a historical patient database of more than 120,000 in the two states.
Shares of Integrated Cannabis Company traded higher during pre-market hours on Thursday.
For More Information On Integrated Cannabis Company, Click Here
Tilray Inc. (TLRY)
Market Cap: $19.93B
Shares of Tilray have directed investors on a wild ride over the last 24 hours. After soaring to highs of $300 on Wednesday, shares plummeted sharply during the late afternoon. There were no negative events that were seen on Tilray's newswires and shares ended up bouncing back from lows of $151.40 to finish out the session at $214.06. During the pre-market hours on Thursday, shares of the pot stock traded as high as $249 before the 8 o'clock hour.
This morning IntelGenx Corp. (IGX.V) ( IGXT) announced that it has executed a non-binding letter of intent with Tilray, Inc. (TLRY) to co-develop and commercialize oral film products infused with recreational and medical cannabis (cannabis-infused VersaFilm™). IntelGenx and Tilray will fund 20% and 80% of the costs associated with the development of the cannabis-infused VersaFilm™ products, respectively.
For More Information On Tilray, Click Here
OrganiGram Holdings Inc (OGRMF) (OGI.V)
Market Cap: $686.32M
Similar to many marijuana stocks on Wednesday, shares of OrgniGram Holdings saw a pullback in the market during late trading during the afternoon session. Shares rebounded before the close and have continued to move higher during pre-market trading on Thursday.
This morning the company announced that, along with Canopy Growth Corporation (WEED.TO) (CGC), that following Organigram's approval as a cannabis supplier in the Province of Newfoundland and Labrador, the companies have signed a two-year supply and distribution agreement.
Organigram will become a key supplier of branded, finished cannabis products to Canopy Growth's Tweed-branded retail operations in Newfoundland and Labrador once adult recreational cannabis is legalized in Canada on October 17 th, 2018. Canopy Growth will also perform a B2B sales function for Organigram by marketing its portfolio to other licensed retail outlets in Newfoundland and Labrador.
Currently, OrganiGram also has supply agreements/memorandums of understanding with the provinces of New Brunswick, Nova Scotia, Prince Edward Island, Alberta, Manitoba, and Ontario.
For More Information On OrganiGram, Click Here
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Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. MAPH Enterprises LLC which owns www.MarijuanaStocks.com is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release.
MAPH Enterprises LLC, which owns www.MarijuanaStocks.com, may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. MAPH Enterprises LLC, which owns www.MarijuanaStocks.com, may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two. Pursuant to an agreement between an affiliate of MAPH Enterprises, LLC (owners of MarijuanaStocks.com), Midam Ventures LLC and Integrated Cannabis Company, Midam is being paid $25,000 per month for a period of 6 months beginning September 4, 2018 and ending March 9, 2019. We own ZERO shares of Integrated Cannabis Company. We may buy or sell additional shares of (ICNAF)/(ICAN) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about Integrated Cannabis Company. Please click here for full disclaimer
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