Cannabis Stock Report: Marijuana Accelerator Partners, Aurora Cannabis Gains, New Marijuana ETF to Hit The NYSE Arca
Marijuana Accelerator Partners With Mobvivo
Player’s Network Inc.'s (PNTV) Marijuana Accelerator division partnered with ePlay Digital Inc. (CSE: EPY) subsidiary Mobvivo this week. The deal has Mobvivo developing web and mobile apps for PNTV and its associated groups. Mobvivo’s expertise will help strengthen PNTV's foothold in the cannabis tech sector.
Player’s Network Inc. trades in both the media and cannabis sectors. They own around 89 percent of Green Leaf Farms Holdings, LLC. With a cultivation license from Nevada, PNTV grows marijuana and cultivates extracts. Their media holdings include WeedTV.com. ePlay Digital Inc. develops "real-time fan engagement technologies," partnering with ESPN, Time-Warner Cable, and others.
The new deal’s first project is a planned travel app, which will launch in the next few months. “Marijuana Accelerator is focusing on companies in marijuana media and marijuana tech, so there is a lot of need for development,” says Brett H. Pojunis, Player’s Network Board Member and Co-Managing Director of Marijuana Accelerator.
For more, go to Nasdaq GlobeNewswire.
Aurora Cannabis Has Single Day Gains of 15 Percent
Aurora Cannabis Inc. (TSX:ACB) saw single-day gains of 15 percent as investors jumped on two positive developments. Industry-wide increases came on the news of the Federal Government’s planned $1 per gram cannabis tax. Many see the announcement as a definite indicator of the bright future of legalization.
Specific to Aurora was a new development with Hempco Food and Fiber Inc. (TSXV:HEMP). The shareholders of Hempco have given Aurora the go-ahead to buy into the company. Globally, Hempco is one of the largest industrial hemp producers. Investors are eager to see Aurora diversify into the broader cannabis market.
Aurora’s focus has been in the medical marijuana market. Hemp has lower concentrations of THC but higher concentrations of CBD. It has the potential to open the company up to many new possibilities. Experts predict many competitors to jump into the CBD market.
For more, go to The Motley Fool.
New Marijuana ETF To Hit The NYSE Arca
ETF Managers Group announced the listing of a marijuana-based ETF on the NYSE Arca. The U.S. based investment firm says the fund will begin in late December. The Alternative Agroscience ETF will allow investors to buy into the cannabis sector. It deals mainly with prescription drugs derived from cannabis extracts and hemp derivatives.
Currently, the only ETF option in cannabis is Horizons Marijuana Life Sciences ETF (HMMJ). The only place it trades is on the Toronto Stock Exchange. This new ETF is a rebuild of an existing fund. It is the first U.S. traded fund for investments in marijuana cultivators and distributors.
Experts see the potential for the fund even though it trades only in legal states. The fund tracks the Alternative Agroscience Index, which invests in various cannabis companies.
For more, go to etfdailynews.com.
News and Notes
Jeffries Group reissued another in a series of buy ratings for Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE). Zynerba is a pharmaceutical company that develops innovative transdermal synthetic cannabinoid treatments. Jeffries put a $32.00 target price on Zynerba’s stock.
PUF Ventures (CSE:PUF, Frankfurt:PU3, OTCPK:PUFXF), a Canadian medical marijuana supplier, made some corporate announcements recently. In Australia, the company filed three applications for the production of medical cannabis at the Northern Rivers project greenhouse. They have also contracted with Verdin Systems Canada, a group that provides security to the controlled substances sector.