Recent cannabis business, investment news you may have missed
Aurora Cannabis Inc. announced the grand opening of its flagship retail store on Nov. 27 in West Edmonton Mall. “At approximately 11,000 square feet, Aurora has combined both a retail cannabis store and an immersive experiential space, encouraging visitors from around the world to explore unique products and participate in a rotating calendar of programming and events,” the company notes in a release. “Aurora’s flagship store offers visitors a safe, age-gated retail experience in full compliance with all relevant federal and provincial regulations.”
CBx Data Labs is launching a trial with over 100 medical cannabis users across Canada. The company announced this week a six-week trial of its cloud-based software, which connects directly to hardware devices, users and health professionals. “Over 100 medical cannabis users from across Canada have signed up to participate in this exciting opportunity to test CBx Data Labs’ intuitive and user-friendly app, which makes collecting health data easy and secure,” a release notes. “The CBx Data Labs app leverages unique clinical expertise with built-in symptom and condition-specific questions, providing an individualized experience. Each user creates a customized profile and then receives dosing reminders and prompts to track symptoms and outcomes.” The app also allows users to share their personal data with their health providers, who can adjust treatment in real time. Once in market, the app will allow users to make virtual appointments with health care professionals and remotely refill prescriptions.
Aurora Cannabis Stock Is Looking Like a Dead Cat Bounce
Aurora Cannabis (NYSE:ACB) stock dropped nearly 12% on Friday, Nov. 22. This was one day after the stock rose nearly 15% on the news that the U.S. House of Representatives Judiciary Committee voted in favor of the Marijuana Opportunity Reinvestment and Expungement (MORE) Act.
Since hitting a 52-week high in March 2019, ACB stock has been on a consistent downward trend. Most concerning to investors is that the stock has fallen precipitously since the middle of September.
Olympic Gold Medalist Levelling the Playing Field in Cannabis
Canadian professional snowboarder, Olympic Gold Medal Winner and Legacy Brands founder and CEO Ross Rebagliati joins Midas Letter to discuss setting the gold standard for cannabis retail companies and his own sporting experiences with the plant. Mr. Rebagliati was the first ever athlete to win an Olympic Gold Medal for men’s snowboarding at the 1998 Olympic Games. Subsequent to winning however, having found traces of THC in his system, was disqualified and stripped of his achievement. The decision was eventually overturned but not before Mr. Rebagliati spent time in a Japanese jail. Since his athletic achievements, Mr Rebagliati has maintained belief that cannabis is part of living a healthy lifestyle and has founded a medical marijuana business: Legacy Brands. Watch the full interview to find out Ross Brands business plan and how the legendary snowboarder is levelling the playing field in Cannabis.