Palm Oil: Price trends 2021. Market expectations and sentiments
Cannabis growers rise on expectations of increased demand ahead of the holidays
Cannabis growers rallied on Wednesday, recovering from the previous day’s losses. This is driven by expectations of a sharp rise in cannabis spending during Thanksgiving celebrations in the United States, one of the busiest shopping periods of the year..
Market data showed a sharp rise in cannabis sales in the so-called «Green environment» 2018, the day before Thanksgiving, and Black Friday, the day after the holiday, according to Marijuana Business Daily. Data from research and analytical company Headset showed that cannabis sales in «Green environment» last year grew by 63%, Jane Technologies calls the figure 62%.
Headset data is based on California, Colorado, Nevada and Washington sales, while Jane Technologies only includes California and Washington sales. Statistics show that consumers buy cannabis as holiday gifts.
The ETFMG Alternative Harvest ETF is up about 1%, with 25 of the 35 stocks in it trading up. The Horizons Marijuana Life Sciences ETF grew 1.6%, with 36 of its components up. Moreover, the index S&P 500 is up 0.1%, while the Dow Jones Industrial Average is down 0.1%.
The sector sank heavily on Tuesday after the FDA warned that cannabis use could damage the liver and other organs in the human body, which could upset the plans of some companies in the industry, including major Canadian licensed growers..
In the updated guidance, the regulator warned that the lack of research on all of the substance’s ingredients means it is unclear how it affects people who consume it on a daily basis in a variety of ways, including creams..
Canopy Growth announced that its new product portfolio for Cannabis 2.0 will include chocolate, vape cartridges, and distilled cannabis drinks..
The company is developing a line of drinks under the Tweed brand with 2 mg of THC per can, as well as Houseplant Grapefruit and Houseplant Lemon, which are part of a partnership with actor Seth Rogen, screenwriter and producer Evan Goldberg. These drinks will contain 2.5 mg THC per 355 ml can.
In addition, the company plans to launch soda water under the new brand Quatreau, which will contain 2 mg of THC per can. Canopy Shares Up 1.2%.
Aurora Cannabis shares surged 2.9% after the company said it was opening a flagship store in West Edmonton Mall, which it says is the largest in North America at 11,000 square feet..