Cannabis stocks traded down this week, despite a series of financing announcements and other good news, including a new bill from Congress.
GrowGeneration Corp. (NASDAQ:GRWG) wants to raise $125 million via a public offering. The offering was then upsized to $150 million on Wednesday, offering 5 million shares at a price of $30.00 per share.
Weedmaps is going public via a merger with
Silver Spike Acquisition Corp. (NASDAQ:SSPK), while
LeafLink closed a $40 million Series C funding round led by Founders Fund.
“Money keeps flowing into the cannabis space as we saw the huge $1.5 billion valuation given to the Weedmaps deal with the Silver Spike SPAC. Not only that, GrowGeneration supersized its offering from $125 million to $150 million. Despite the inconsistent stock performance, there is still a big demand for investment in this industry,” Debra Borchard, editor in chief of Green Market Report, told Benzinga.
Long-awaited, cannabis products from Jay-Z cannabis line Monogram are finally available. On December 10, after 18 months of methodical strain pick up and cautious cultivation practices Monogram cannabis products were released.
Last week, Jay-Z offered an initial glimpse into the world of his upcoming cannabis line, Monogram.
The event was marked by the debut of the site the Monogram website and the brand’s Instagram account.
Monogram is the first brand born out of the entrepreneur’s partnership. Read More. Don t Miss Any Updates! News Directly in Your Inbox Subscribe to: