-February 13, 2024 - by Ashlee Vogenthaler

PRISM Insight: Cannabis Stocks May Be Seeing Green During Marijuana Awareness Month as Investors Wait on DEA’s Rescheduling Decision

13 February 2024

New York, February 13, 2024 - PRISM MarketView - Cannabis stocks are seeing a resurgence as investors await a decision from the DEA on potentially rescheduling marijuana. The AdvisorShares Pure US Cannabis ETF and other related ETFs have shown significant gains this year after a lackluster performance in the previous year. The rally began in August following reports that the HHS recommended rescheduling marijuana to a lower risk category under the CSA. Industry experts and investors are optimistic about a positive outcome, especially with indications from the White House suggesting a major cannabis-related policy decision soon, potentially involving rescheduling. Snead, an expert in cannabis banking and reforms, hinted at a possible DEA rescheduling decision, although it could also be more significant. Senate Democrats have urged the DEA to consider completely descheduling marijuana, adding further momentum to the ongoing discussion.

The month of February is Marijuana Awareness Month. Medical marijuana is commonly used in the United States for pain control, particularly for chronic pain in conditions like multiple sclerosis and nerve pain. It offers a safer alternative to opioids and NSAIDs, especially for those with kidney or gastrointestinal issues. Marijuana’s muscle relaxant properties are beneficial for conditions like Parkinson’s disease and fibromyalgia. It is also used to manage nausea, weight loss, and glaucoma, and shows promise in treating PTSD in veterans and symptoms associated with HIV, irritable bowel syndrome, and Crohn’s disease. However, claims of effectiveness should be critically evaluated on a case by case basis.

MARIJUANA AWARENESS MONTH

Marijuana Awareness Month is here. Want to learn more about the effects of marijuana use? Keep reading.

Therapeutic Effects of Cannabis and Cannabinoids - The Health Effects of Cannabis and Cannabinoids - NCBI Bookshelf

Cannabis sativa has a long history as a medicinal plant, likely dating back more than two millennia (Russo et al., 2007). It was available as a licensed medicine in the United States for about a century before the American Medical Association removed it from the 12th edition of the U.S. Pharmacopeia (IOM, 1999). In 1985, pharmaceutical companies received approval to begin developing Δ9-tetrahydrocannabinol (THC) preparations—dronabinol and nabilone—for therapeutic use, and as a result, cannabinoids were reintroduced into the armamentarium of willing health care providers (Grotenhermen and Müller-Vahl, 2012). Efforts are now being put into the trials of cannabidiol as a treatment for conditions such as epilepsy and schizophrenia,1 although no such preparations have come to market at this time. Nabiximols, an oromucosal spray of a whole cannabis plant extract with a 1:1 ratio of THC to cannabidiol (CBD), was initially licensed and approved in Europe, the United Kingdom, and Canada for the treatment of pain and spasticity associated with multiple sclerosis (GW Pharmaceuticals, 2016; Pertwee, 2012), but it continues to undergo evaluation in Phase III clinical trials in the United States.2 Efforts are under way to develop targeted pharmaceuticals that are agonists or antagonists of the cannabinoid receptors or that modulate the production and degradation of the endocannabinoids, although such interventions have not yet demonstrated safety or effectiveness. Nonetheless, therapeutic agents targeting cannabinoid receptors and endocannabinoids are expected to become available in the future.

PRISM MarketView’s Emerging Cannabis Index tracks small/micro-cap stocks that are developing or marketing medical or legal marijuana products. Some companies it includes are highlighted below:

Emerging Cannabis Stock Index | List of Cannabis Stocks

The PRISM Emerging Cannabis Index tracks small/micro-cap stocks that are developing or marketing medical or legal marijuana products. Please note the default di

Tilray Brands, Inc.

Leading global cannabis company, Tilray Brands, Inc. (TLRY) specializes in cultivation, processing, and distribution of medical and recreational cannabis products. With a focus on innovation, quality, and sustainability, Tilray Brands offers a diverse range of cannabis-based products including dried flower, oils, edibles, and wellness products. Recently, Manitoba Harvest, a wholly owned subsidiary of Tilray announced its is partnering with Bioactives company Brightseed to revolutionize the functional fiber market with breakthrough product, Manitoba Harvest Bioactive Fiber.

Tilray, Inc. - Prism MarketView

Tilray, Inc. engages in the research, cultivation, processing, and distribution of medical cannabis. The company offers its products to patients, physicians, ph

Manitoba Harvest Hemp Foods and Brightseed Launch Bioactive Fiber

Leading Hemp Foods Brand Expands Wellness Portfolio with Innovative Bioactive-Rich Fiber Solution, Exclusively at Whole Foods Market Stores Nationwide Manitoba Harvest Bioactive Fiber Manitoba Harvest Bioactive Fiber NEW YORK and WINNIPEG, Manitoba, Feb. 07, 2024 (GLOBE NEWSWIRE) -- Manitoba Harvest, the global leader in hemp foods and a wholly-owned subsidiary of Tilray Brands, Inc. (“Tilray” or the “Company”) (NASDAQ: TLRY and TSX: TLRY), is partnering with Bioactives company Brightseed to rev

Brightseed Bioactives | We Find Nature's Answers to Health

Brightseed is a pioneer in biosciences and A.I. that illuminates nature to restore human health. As health’s unsung heroes, bioactives offer the key to ending the burdens of chronic diseases.

Green Thumb Industries, Inc.

Cannabis consumer packaged goods and retailer, Green Thumb Industries, Inc. (GTBIF) focuses on providing high-quality cannabis products for both medical and recreational use. Operating across multiple states in the United States, GTI has established itself as a vertically integrated company, involved in cultivation, processing, and retailing of cannabis products. The company will be reporting its Q4 and Full Year 2023 earnings followed by a conference call at the end of the month on Wednesday, February 28th.

Green Thumb Industries - Prism MarketView

Green Thumb Industries Inc. manufactures, distributes, and sells various cannabis products for medical and adult-use in the United States. It offers cannabis fl

Green Thumb Industries to Hold Fourth Quarter and Full Year 2023 Earnings Conference Call on February 28, 2024

CHICAGO and VANCOUVER, British Columbia, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Green Thumb Industries Inc. (“Green Thumb” or the “Company”) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of RISE Dispensaries, today announced it will release fourth quarter and full year 2023 financial results after the market closes on Wednesday, February 28, 2024. A conference call and audio webcast will also be held on Wednesday, February 28, 2024, at 5:00 p.m. Eas

Clever Leaves Holdings Inc.

The vertically integrated multinational cannabis company, Clever Leaves Holdings Inc. (CLVR) has developed operations focused on cultivation, extraction, formulation, and distribution of pharmaceutical-grade cannabis products. Headquartered in Colombia, Clever Leaves leverages its strategic geographic location and expertise in sustainable agricultural practices to cultivate high-quality cannabis at scale. Recently, the company announced through its partnership with award-winning Dutch seed bank, Paradise Seeds (“Paradise”), their intention to develop and register high performance cannabis cultivars in Colombia. Clever Leaves will have exclusive license to cultivate some of these genetics, while Paradise will make other cultivars available to third parties for cultivation across Colombia and Latin America.

Clever Leaves Holdings Inc. - Prism MarketView

Clever Leaves is a leading multinational operator and licensed producer of pharmaceutical-grade cannabinoids. Its operations in Colombia produce cannabinoid act

Clever Leaves and Paradise Seeds to Develop and Register Genetic Assets in Colombia

TOCANCIPÁ, Colombia, Feb. 13, 2024 (GLOBE NEWSWIRE) -- Clever Leaves Holdings Inc. (NASDAQ: CLVR, CLVRW) (“Clever Leaves” or the “Company”), a global medicinal cannabis company, announced today that through its partnership with award-winning Dutch seed bank, Paradise Seeds (“Paradise”), to develop and register high performance cannabis cultivars in Colombia, Clever Leaves will have exclusive license to cultivate some of these genetics, while Paradise will make other cultivars available to third

PRISM MarketView does not provide investment advice.

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