{"id":45525,"date":"2021-09-20T06:45:14","date_gmt":"2021-09-20T10:45:14","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=45525"},"modified":"2021-09-20T06:45:14","modified_gmt":"2021-09-20T10:45:14","slug":"cbd-and-cannabis-stocks-set-for-boost-on-ca-passage-of-ab-45-cbgl-tlry-sndl-cvsi-mcoa-mrmd-acb-grwg-mjna","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/cbd-and-cannabis-stocks-set-for-boost-on-ca-passage-of-ab-45-cbgl-tlry-sndl-cvsi-mcoa-mrmd-acb-grwg-mjna-45525","title":{"rendered":"CBD and Cannabis Stocks Set for Boost on CA Passage of AB 45 (CBGL, TLRY, SNDL, CVSI, MCOA, MRMD, ACB, GRWG, MJNA)"},"content":{"rendered":"

While it will at first be limited to the California market, AB 45 carries implications in the battle between state law and federal regulations for CBD products in food, as well as for sales of smokable CBD in cannabis, which stands to get a boost of over a billion dollars from AB 45.<\/span><\/p>\n

AB 45, or \u201cCalifornia Assembly Bill 45\u201d, has now passed the Assembly and Senate in the state of California, and is ready for final signing into law by the Governor.<\/span><\/p>\n

Enactment would deem CBD fine for public consumption by humans and animals, including as involved in products containing other ingredients. It also means it will be fine to smoke CBD. But in an interesting sidebar, the legislation halts production of hemp-based smokable CBD until refinements can be made to regulatory factors in that process, meaning that CBD smokers will have to get their CBD by smoking cannabis-based products.<\/span><\/p>\n

Perhaps most importantly, the bill offers insights into how states may start to deal with federal red tape blocking better business in the CBD and cannabis space. If it is signed into law by CA governor Newsom in the weeks ahead, which is the expected outcome, it could represent a turning point that opens new doors for CBD and cannabis stocks looking forward, in California and beyond.<\/span><\/p>\n

With that in mind, we take a look at a few stocks in the space with some interesting recent catalysts.<\/span><\/p>\n

Tilray Inc (NASDAQ:TLRY)<\/b> bills itself as a global cannabis-lifestyle and consumer packaged goods company with operations in Canada, the United States, Europe, Australia, and Latin America. The firm is focused on medical cannabis research, cultivation, processing, and distribution of cannabis products worldwide. Its products include dried cannabis and cannabis extracts. It operates through the following segments: Cannabis and Hemp.<\/span><\/p>\n

The Cannabis segment consists of adult-use, medical and bulk sales of cannabis under regulated licenses and sold to retail, wholesale, pharmacy, government, and direct to patient. The Hemp segment consist of hemp seed, hemp foods, board spectrum hemp extract containing CBD, which are sold in an unlicensed operation and sold to retail, wholesale and direct to consumers.\u00a0<\/span><\/p>\n

Tilray Inc (NASDAQ:TLRY) recently sent an open letter to shareholders from Irwin D. Simon, Chairman and Chief Executive Officer. The letter detailed Mr. Simon\u2019s strategic vision and $4B revenue plan for the Company and encourages all shareholders to vote for initiatives in support of that vision and plan at Tilray\u2019s Special Meeting of Stockholders, which is scheduled to be held on September 10, 2021.<\/span><\/p>\n

This follows the company\u2019s landmark announcement earlier this month that it has acquired the majority of the outstanding senior secured convertible notes of MedMen that were originally held by certain funds affiliated with Gotham Green Partners, LLC and other funds. The acquisition provides Tilray with a path, subject to necessary regulatory approvals, to obtain a significant equity position in MedMen through conversion of the Notes and exercise of associated warrants following U.S. cannabis legalization (or Tilray\u2019s waiver of such condition). In connection with the sale of the Notes, MedMen and GGP amended the restrictive covenants and extended the debt maturity to 2028 to provide MedMen the flexibility to execute on its growth priorities and explore additional strategic opportunities. In addition, MedMen separately announced today a significant equity investment from a private placement of MedMen Shares (as defined below) and warrants to a group of investors.<\/span><\/p>\n

It will be interesting to see if the stock can break out of its recent sideways action. Over the past week, the stock is net flat, and looking for something new to spark things. Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -4%.\u00a0<\/span><\/p>\n

Tilray Inc (NASDAQ:TLRY) managed to rope in revenues totaling $48M in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of -7.8%, as compared to year-ago data in comparable terms. In addition, the company has a strong balance sheet, with cash levels exceeding current liabilities ($416.4M against $284M).<\/span><\/p>\n

Cannabis Global Inc (OTC US:CBGL)<\/b> frames itself as a Los Angeles-based, fully audited and reporting emerging force in the cannabis marketplace with a growing product and proprietary intellectual property portfolio. The company, among other key pursuits, is now marketing and producing Comply Bag™, an innovative solution for cannabis storage, transport, and tracking, and is the developer and marketer of Hemp You Can Feel™ branded products, which are some of the most innovative products in the CBD marketplace.\u00a0<\/span><\/p>\n

CBGL\u2019s Natural Plant Extract (NPE) subsidiary is also a Southern California licensed cannabis manufacturer and distributor which licenses CBGL\u2019s technologies to produce edibles for the cannabis marketplace. Cannabis Global has filed three non-provisional and multiple provisional patents for cannabis infusion and nanoparticle technologies and continues an active research & development program.<\/span><\/p>\n

Cannabis Global Inc (OTC US:CBGL) recently announced, in conjunction with Marijuana Company of America Inc (OTCMKTS:MCOA), its support for AB 45, as covered in our introduction section. These companies stand to benefit directly from the measure.<\/span><\/p>\n

According to the company\u2019s release, Governor Gavin Newsom (CA) has already expressed strong support for AB 45. Enactment of this legislation would resolve California state enforcement completely by deeming CBD safe for human and animal consumption and ending state prohibition of CBD products. Moreover, full passage of the measure would open the door to the production and sale of CBD products in the state despite Federal regulatory barriers.<\/span><\/p>\n

Cannabis Global CEO Arman Tabatabaei stated, \u201cWithout state cooperation, we believe the FDA would likely have trouble providing an effective regulatory framework for CBD in California. AB 45 is a game changer for companies that market CBD products in the state. While important restrictions on manufacturing remain in place, this is unequivocally positive for any producer of hemp or CBD products targeting end-market consumers in California.\u201d<\/span><\/p>\n

\u201cThis legislation represents a crucial step for a viable industry with tremendous value to offer California residents,\u201d remarked Jesus Quintero, CEO of Marijuana Company of America. \u201cWe have faith in the state\u2019s democratic process and the system\u2019s ability to produce a rational legislative result on this issue. AB 45 opens the door to a world where California consumers can finally gain access to the CBD products they have been requesting for years. And the Assembly\u2019s passage of the bill is a big step in the right direction.\u201d<\/span><\/p>\n

Cannabis Global Inc (OTC US:CBGL) shares recently dipped down to new multi-year lows despite its active commercial prospects and the likelihood the company will directly benefit from these recent legislative shifts. That could spell an important deep-discount opportunity for speculators in the CBD and cannabis stock sector.<\/span><\/p>\n

Sundial Growers Inc (NASDAQ:SNDL)<\/b> engages in the production and distribution of flower, pre-rolls and vapes. The firm offers licensed producer, ACMPR, cannabis, medical cannabis, health and wellness, and cannabis extracts.<\/span><\/p>\n

SNDL became one of the core \u201cmeme stocks\u201d during February of this year, soaring higher in a disruptive short-squeeze move. The stock continues to hold this potential, along with other players in the cannabis space, including TLRY and CBGL, discussed above.<\/span><\/p>\n

Sundial Growers Inc (NASDAQ:SNDL) recently announced that it has launched Caviar Cones, its newest product innovation, under the award-winning Top Leaf brand. The Forbidden Lemon Caviar Cones will be the first caviar cone product to hit the Canadian market. This launch reinforces Sundial’s focused innovation pipeline around premium inhalables in the Canadian cannabis market.<\/span><\/p>\n

“Top Leaf’s brand promise is to deliver top quality inhalable products to consumers in the premium cannabis segment,” said Andrew Stordeur, President and Chief Operating Officer at Sundial. “In order to compete in this preferred segment of the cannabis industry, product quality is absolutely vital. Top Leaf’s Caviar Cones is the first of many high quality, high THC and flavourful products developed to satisfy even the most experienced cannabis user.”<\/span><\/p>\n

Even with that news, the action hasn’t really heated up in the stock, with shares moving net sideways over the past week. Shares of the stock have powered higher over the past month, rallying roughly 4% in that time on strong overall action.\u00a0<\/span><\/p>\n

Sundial Growers Inc (NASDAQ:SNDL) managed to rope in revenues totaling $7.5M in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of -48.9%, as compared to year-ago data in comparable terms. In addition, the company has a strong balance sheet, with cash levels exceeding current liabilities ($838.5M against $63.8M).<\/span><\/p>\n

Other core CBD and Cannabis names<\/b> that could benefit in the space include CV Sciences Inc (OTC US:CVSI), Marimed Inc (OTC US:MRMD), Aurora Cannabis Inc (NASDAQ:ACB), Medical Marijuana Inc (OTC US:MJNA), and GrowGeneration Corp (NASDAQ:GRWG).<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

While it will at first be limited to the California market, AB 45 carries implications in the battle between state law and federal regulations for […]<\/p>\n","protected":false},"author":10,"featured_media":45292,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[14113,14611,14142,14131,13389,15972,304,15971,15754],"stock_ticker":[],"class_list":["post-45525","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-acb","tag-cbgl","tag-grwg","tag-tlry","tag-cvsi","tag-mcoa","tag-mjna","tag-mrmd","tag-sndl","entry"],"acf":[],"yoast_head":"\nCBD and Cannabis Stocks Set for Boost on CA Passage of AB 45 (CBGL, TLRY, SNDL, CVSI, MCOA, MRMD, ACB, GRWG, MJNA) - 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