The Top 3 Marijuana Stocks Expected to Soar Following Jeff Sessions Exit.
Shares of marijuana companies traded broadly higher Wednesday, as U.S. midterm elections are likely to usher in a green wave, with Michigan voting to legalize recreational pot and other states supporting medical marijuana likely just the beginning.
The sector got a further boost after long-time cannabis opponent Attorney General Jeff Sessions resigned “at the request” of President Trump. Jeff Sessions resignation, coupled with a Democrat-controlled House of Representatives, could bring a much need boost to the marijuana industry in the U.S. Lets not forget, Jeff Sessions was who delivered a blow to the marijuana industry’s ability to raise capital.
The Most Obvious Expected Gainers:
Among the most-active stocks, Aurora Cannabis Inc. ACB, +5.87% hiked up 6.4%, Canopy Growth Corp. CGC, +0.33% tacked on 6.0%, Cronos Group Inc.CRON, -0.82% surged 8.4% and Tilray Inc. TLRY, -0.18% soared 31%.
The Companies poised to benefit from Illinois and Nevada results:
In other pot stocks, shares of Toronto-based Namaste Technologies Inc.NXTTF, +4.90% gained 5.7% after the company said its Cannmart Inc. subsidiary signed an agreement with AgMedica Bioscience Inc. to buy medical cannabis from AgMedica to sell on Cannmart’s online platform.
And now, Your Top 3 Candidates
First Place: Global Consortium Inc. (BDCI)
First and foremost, BDCI just announced today (talk about perfect timing) its aggressive expansion by Building a CBD Processing Lab, increasing harvest revenues to $4,000,000.
Press Release: Click HERE
Further, the completed merger with a transaction valued at over $40 million. has attracted some larger investors, and more are starting to take notice. From a recent press release,
Bahamas Development Corporation (soon to be known as Global Consortium, Inc. d/b/a Cannabis Consortium) (OTCPINK: BDCI) (“Cannabis Consortium”) and its wholly owned subsidiary BDCI Merger Sub, Inc. (“Merger Sub”) have completed a merger with Global Consortium, Inc. (“Global”), whereby Global merged with and into Merger Sub, with Global surviving.
This week Global will complete a $26-million-dollar merger with operating assets within the Cannabis sector. This is the first of several mergers that will be completed over the next 6 months.
In fact, unlike 90% of the current breed of “Marijuana” companies in the OTC that have simply poked their tow into the Marijuana sector, Bahamas Development Corp (OTC:BDCI) started out as a marijuana company, and has not changed course since.
Second Place: Aurora Cannabis Inc. (TSX:ACB)
Should see a big move here. Aurora Cannabis is a licensed producer and seller of medical marijuana and cannabis oil under the ACMPR. On April 16, 2018, Aurora announced an agreement with CTT Pharmaceutical Holdings Incorporated (OTC:CTTH) for joint exclusive rights for the Canadian distribution of CTT’s patented drug delivery technologies. The agreement includes rights to six patents related to cannabis delivery technologies, including the Orally Dissolvable Thin Film (ODF) Wafer technology. ODF Wafers are taken orally and dissolve quickly in the mouth, allowing for easy consumption of cannabis especially for individuals who have difficulty swallowing.
Third Place: Profile Solutions Inc. (PSIQ)
The King of eSwatini recently signed a contract to establish a large growing farm and processing plant for medical cannabis & hemp with a United States company called Profile Solutions Inc., (OTC:PSIQ).Analysts suggest that this deal will bolster the countries economic standing, and create new jobs and infrastructure.
Profile Solutions, Inc. (OTC Pink: PSIQ) is pleased to announce preliminary approval from the eSwatini Ministry of Economic Planning and Development to establish an exclusive growing farm and processing plant for medical cannabis & hemp in The Kingdom of eSwatini.
“We anticipate $ 12 — $ 20 million to come from the sale of Medical Cannabis and up to $ 10 million to come from the sale of CBD Hemp.”
This new direction for the country comes after reports that Trump has softened his view on the war on Pot, and with Jess Sessions getting sacked, we expect the industry to open to nationwide legalization much like Canada. According to Seung Min Kim at the Washington Post, Sen. Cory Gardner (R-CO), whose state was the first to allow recreational marijuana sales, said that Trump indicated that he would support a law to allow state legalization experiments to continue.
Analysts are suggesting that PSIQ, which is currently trading at $0.20 may now have the support to surpass some of the big names in the Cannabis industry, such as Tilray ( NASDAQ: TLRY) and Aurora Cannabis Inc.