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Cannabis Summary for May 5, 2020

2020-05-05 20:00 ET - Market Summary

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by Stockwatch Business Reporter

The S&P/TSX Cannabis Index lost 0.65 point to 129.73 Tuesday, while the Canadian Securities Exchange Composite Index gained 4.2 points to 313.16. South of the border, Mota Ventures Corp. (MOTA) lost half a cent to 29.5 cents on 1.34 million shares after claiming to have seen "strong consumer demand" during the month of April.

Mota launched a hemp-based CBD brand in April called Natures Exclusive. The brand will offer a range of products such as CBD oil drops, CBD gummies, CBD pain relief cream, CBD skin serum and CBD coffee. The price of hemp biomass (which is used to make CBD) has fallen from over $40 a pound to under $10 in the last year, but in many cases those declines are yet to benefit the consumer. CBD products are still very expensive. For example, Mota sells a tub of 30 CBD gummies for $44.95 (U.S.), about $1.50 (U.S.) a gummy, or a 30-millilitre bottle of turmeric CBD oil for $64.95 (U.S.). The CBD coffee, meanwhile, goes for $34.95 (U.S.) a bag, more than double the price of high-end, non-CBD coffee. Mota makes wide-ranging claims about the products, from stress relief to pain relief to anti-inflammatory to sleep enhancement.

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