Cannabis stock report: Pot stocks as NFL kicks off first season under amended labor agreement
Cannabis stocks sped off faster than the Flash on Wednesday as The North American Marijuana Index shot up 0.65 points to 105.50. INvestors on both sides of the US - Candian border had something to smile about, with The United States Marijuana Index rising 0.41 points to 49.93, while The Candian Marijuana Index jumped 0.16 points to 189.33.
Meanwhile, the markets overall fared a bit worse, with the NASDAQ hitting 11,050.47, a loss of 139.86 points, or 1.25 percent. The NYSE saw minimal gains, reaching 12,997.86, an increase of 30.67 points, or 0.24 percent.
News spread on Wednesday about cannabis in the NFL, as more players are turning to the green plant as a way to heal their injuries while avoiding narcotic painkillers. The big news this week, according to the San Francisco Gate, was that the NFL began its first season since an amended labor agreement allowed players to use cannabis without facing a suspension.
It’s a big deal for a league that hasn’t embraced too much change over the years, according to the San Francisco Gate. They write that many players, including “former players Nate Newton, Shaun Smith, and Mark Stenoski of the Dallas Cowboys, along [with] Martavis Bryant of the Pittsburgh Stealers, [and] Josh Gordon of the Cleveland Browns,” have admitted to using the drug before and after games. Former Denver Broncos star Nate Jackson even wrote an op-ed about cannabis use in the NFL for the New York Times.
The Gate noted that one player estimated upwards of 89 percent of players used cannabis to help with things like pre-game jitters and post-game pain.
“There are times of the year where your body just hurts so bad,” former tight end Martellus Bennett told Bleacher Report. “You don’t want to be popping pills all the time. There are anti-inflammatory drugs you take so long that they start to eat at your liver, kidneys and things like that. A human made that. God made weed.”
While the Gate notes that marijuana’s benefits on athletic performance haven’t been researched too much, those who have used it attest to its power. Dr. Leigh Vinocur, Board-Certified Emergency Room Physician and Member of the Society of Cannabis Clinicians, stated to the Gate that cannabis might help with “inflammation reduction, anxiety reduction, and protection of the brain.” The doctor did state that athletes shouldn’t work out while high.
“Besides helping you overcome anxiety before working out and blunting pain while you’re in the workout, we’ve seen evidence that cannabis and CBD are neuroprotective, meaning it can help protect brain cells, which could be beneficial to people in sports where concussions are a risk,” Vinocur told GreenState in an interview. “As far as after physical activity, if you’re having to take opioids for pain, some people have found it to be a good alternative.”
Cannabis stock winners and losers
Vireo Health International Inc. (VREOF) hit $0.895, a gain of $0.1281 per share or 16.70 percent. Supreme Cannabis Company Inc. (FIRE:CA) rose $0.015 per share up to $0.155, a gain of 10.71 percent. Organigram Holdings Inc. (OGI:CA) rose $0.13 per share up to $1.55, an increase of 9.15 percent.
MariMed Inc. (MRMD) fell down to $0.165, a loss of $0.0135 per share or 7.56 percent. Columbia Care, Inc. (CCHWF) fell $0.24 per share down to $3.37, a loss of 6.65 percent. Zenabis Global Inc. (ZENA:CA) fell down to $0.095, a loss of $0.005 per share or 5.00 percent.
Delta 8 and CBD
CBD manufacturer and distributor Diamond CBD announced the launch of a new product with Delta-8 recently. The product, Chill Plus Delta Force Squares Gummies, includes a healthy mix of CBD and hemp-derived Delta-8 to balance each other out.
“Now, there is always a chance that legislators and the federal government could decide to change the rules, which is why, if you’re looking to try Delta-8 THC, now is the time,” they wrote in a recent blog post. “And with products like our brand-new Chill Plus Delta Force Squares, which combine CBD isolate with Delta-8 THC, there’s never been a better time to go for it. After all, new cannabis compounds don’t come around too often.”
In other cannabis stock news…
MedMen Enterprises Inc. (CSE: MMEN) (OTCQX: MMNFF) announced that lenders would be advancing them another $20 million today. “We are pleased with the continued support from our existing capital partners as we continue our recent track record of execution,” said MedMen Executive Chairman, Ben Rose, in a statement.
Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) entered the Pennsylvania cannabis market through the acquisition of cultivator and producer PurePenn LLC and Pioneer Leasing & Consulting LLC, and dispensary operator Keystone Relief Centers LLC.
The list of groups and organizations signing on to Washington v. Barr is growing.