Weed Week: Pineapple Express writer Seth Rogen is about to start selling pot in California
Health & Biotech
Health & Biotech
Link copied to
Self-described weed fiend Seth Rogen is getting in the cannabis game with the launch of his own pot company, Houseplant, into the California market.
The Canadian company he co-founded will sell three different strains including Pancake Ice sativa, which has more than 30 per cent THC.
Given that Rogen co-wrote (and starred in) pot comedy Pineapple Express, it’s fair to say prospective customers won’t be expecting any old reggie weed from the California market’s newest competitor.
An NBC report said the website for Houseplant (which was founded in 2019) crashed after Rogen aired his US distribution announcement on Twitter.
The incoming Biden administration has given renewed vigour to talks of further legalisation measures gaining steam in the US market.
And Seth Rogen isn’t the only celebrity sensing a market opportunity.
Rapper Snoop Dogg is the co-founder of Casa Verde Capital, which reportedly has cannabis-adjacent holdings north of $US200m.
Amid that bullish outlook, Stockhead caught up this week with cannabis investor Mark Bernberg who said he’s particularly focused on investment opportunities in the US market.
While Australian companies are restricted to focusing on medicinal cannabis solutions, Bernberg said recreational THC products in the US will be more lucrative in the near-term — particularly for companies that have cut through the early hype phase to establish viable business models.
Closer to home, local pot stocks cooled off last week as 30 of the 36 cannabis (and cannabis adjacent) companies tracked by Stockhead posted a weekly loss.
Over the last month though, returns were more stellar as 15 companies gained ground, led by MGC Pharmaceuticals (ASX:MXC) which rose by more than 200 per cent.
The latest weekly, monthly and annual price performance for ASX-listed cannabis stocks:
Scroll or swipe to reveal table. Click headings to sort.