As selected by Bill McNarland, here is his favorite stories this week that he wrote:
- As we predicted the day before, Clearmind Medicine Inc. has effectively raised about $2.4 million, addressing their critical funding needs, and securing operational continuity. In line with our forecast, the company continues to prioritize its psychedelic therapy research, especially its leading compound MEAI, backed by this new financial support. Hence, this became a McNarland Favorite Article.
- Major Bitcoin ETF market players like Invesco, BlackRock, and Fidelity are aggressively reducing fees to attract investors, as seen with Invesco Galaxy Bitcoin ETF offering zero fees on assets up to $5 billion for six months. The SEC’s approval of multiple Bitcoin ETFs has fueled competition among providers and highlights the increasing mainstream acceptance of cryptocurrencies as the ETFs emerge as significant investment vehicles.
- MariMed’s inability to deduct standard business expenses due to Section 280E has led to an estimated overpayment of $4.8M in taxes, potentially raising its stock value from $0.28 to $0.62 per share. Including the impact of Section 280E in a fair value analysis suggests a further potential increase in MariMed’s stock valuation to $0.95 per share, a significant 239% upside.
- Section 280E imposes a hefty tax burden on TerrAscend, leading to substantial tax overpayments and influencing its stock value. Should there be changes to Section 280E, it could greatly enhance the value of cannabis stocks like TerrAscend, which is currently priced at $1.78 USD but could potentially rise to $6.00 USD or $7.86 CAD.
- Stanford Medicine’s study indicates that Ibogaine, combined with magnesium, may significantly improve symptoms of Traumatic Brain Injuries (TBI), including in veterans, while also showing promise in treating various neurological and psychiatric disorders beyond opioid addiction. Universal Ibogaine, the only public company specializing in Ibogaine’s therapeutic applications, represents a potential investment opportunity as it undergoes recapitalization and seeks to resolve auditing issues and secure new financing.
Especially noteworthy is the potential upside for cannabis stocks, as evidenced by the financial impact of Section 280E on companies like MariMed and TerrAscend. Changes in legal policies regarding cannabis could significantly affect these stocks. For readers interested in tracking the cannabis market, the performance of the AdvisorShares Pure US Cannabis ETF (MSOS) is a key indicator to watch.