The FOMC hearing isn't the only thing investors are watching on May 1. Marijuana Stocks continue to take the spotlight and a big reason for this is can be summed up in 3 words, Marijuana Stock Potential, but what does this mean? As Graham Boyd explains, "Within the next two years, a majority of the United States will have adult-use legal cannabis. And some of that, roughly half of that, could happen through state legislatures."
Boyd is a longtime supporter of legal cannabis and now runs the influential, pot-focused New Approach PAC. There have even been cannabis investments made into higher education to help boost the progress of marijuana. A pot stock investor is giving Harvard and the Massachusetts Institute of Technology, his alma maters, $9 million to study the health effects of marijuana, according to published reports.
Today we are highlighting: Innovative Properties Inc. d/b/a Nabis Holdings (NAB.CN) (INNPF), Aurora Cannabis (NYSE: ACB), Canopy Growth (NYSE: CGC) (TSX: WEED), Namaste Technologies (OTCQB: NXTTF) (N.V).
Innovative Properties Inc. d/b/a Nabis Holdings (INNPF) (NAB.CN) (Market Cap: $46.023M) is starting the new month on a high note. After closing at $0.469 on April 30, shares of Innovative Properties Inc. d/b/a Nabis Holdings have already reached highs of $0.5176 on May 1st. This morning the company announced that it has secured eligibility by The Depository Trust Company for its shares on the OTC Market in the United States.
How can this benefit the company? This electronic method of clearing securities speeds up the receipt of stock and cash accelerates the settlement process for investors and brokers and reduces transaction costs for participating brokerage firms. Additionally, DTC eligibility enables the stock to be traded over a much wider selection of brokerage firms, many of whom require DTC eligibility as a compliance measure. With wider market exposure, Shay Shnet, CEO & Director of Nabis, stated, "We are pleased to have secured DTC eligibility improving our investment appeal to the U.S. investment community. The ability for investors to electronically transfer between brokerages in the U.S. is significantly more convenient and provides to existing investors the benefit from greater liquidity and execution speeds while attracting new investors to gain access that may have been previously restricted from investing in Nabis."
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Canopy Growth (CGC) (WEED.TO) (Market Cap: $17.559B) caught the attention of major Wall Street investors after making its own announcement this week. Canopy announced a key milestone in establishing its Hemp Industrial Park in the Southern Tier region of New York State. "As we establish a stronger foothold in the exciting US market, we want to do so in a way that prioritizes local vendors and creates meaningful career opportunities for people in the communities where we operate," said Bruce Linton, Chairman & co-CEO, Canopy Growth. "The vision for our investment is to create an ecosystem that inspires new entrepreneurs and generates more economic stimulus than a single company can offer. As we build the facilities, we'll also attract like-minded businesses who share our excitement for the emerging hemp and hemp-derived cannabinoid markets." Shares of Canopy managed to reach highs of $52.74 this week.
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Aurora Cannabis (ACB) (Market Cap: $9.246B) saw a spike in price and volume on April 30. ACB shares reached highs of $9.37 on the last trading day of April. What helped boost the momentum was attention on recently published marijuana stock news from the company. Aurora signed a binding share purchase agreement to buy up all issued and outstanding common shares of Chemi Pharmaceutical. This is a privately-held, Ontario-based laboratory providing analytics services to the pharmaceutical and cannabis industries. The move could give Aurora the next asset when it comes time to apply for a Cannabis Drug License. This is required for the development of cannabis therapies within the global medical cannabis market.
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Namaste Technologies (NXTTF) (N.V) (Market Cap: $155.348M) rallied big during the last week of April. Shares of the cannabis company jumped from lows of $0.3624 to highs of $0.74. The company recently published a corporate update with respect to an appointment to its Board of Directors, Corporate Strategy, and operational updates and web property improvements. Among key highlights, Namaste highlighted the fact that its major focus is on strengthening the company internally with experienced management so that it will translate externally to contribute to the growth of the company's business operations. Though shares closed red on April 30, Namaste stock has recovered from its Tuesday lows and is trading above $0.50 at the time of this report.
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