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Cannabis Summary for Oct. 27, 2021

2021-10-27 18:49 ET - Market Summary

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by Stockwatch Business Reporter

The S&P/TSX Cannabis Index lost 3.24 to 128.58, while the CSE Composite Index lost 7.58 to 579.10. The cavalcade of stars continued as another celebrity looked to cash in on cannabis. Former boxing champion Mike Tyson (who at age 54 returned to the ring last year for an exhibition match against Roy Jones Jr. -- it was ruled a draw) is launching a company to sell "high-quality, Tyson-branded cannabis products available at multiple price points." Aiding the new venture with cultivation, manufacturing and distribution will be U.S. MSO (multistate operator) Columbia Care Inc. (CCHW), down six cents to $3.73 on 1.26 million shares. The new company will be called Tyson 2.0.

As the name suggests, Mr. Tyson is not new to the cannabis industry, having previously started Tyson Holistics Holdings Inc. in 2016. This sells a range of premium (higher-priced) cannabis products, including strains, extracts, edibles and merchandise. It is also building a massive, cannabis-themed luxury resort in California called Tyson Ranch, which will reportedly feature "glamping" tents and cabins, the world's longest lazy river, and a venue for music festivals that Mr. Tyson says will rival Coachella. It is unclear when this 420-acre (of course) ranch will open.

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