Aleafia Health Inc Rises Again On Cannabis ETF Addition

It’s been quite the month for Aleafia Health Inc (CVE:ALEF) (OTCMKTS:ALEAF) (FRA:ARAH). The vertically-integrated medical cannabis organization is higher by ↑13.37%, adding to an impressive run which has seen the stock rise ↑315.27 over the past month.

Today’s move is galvanized by an important milestone in the company’s brief lifespan. The company announced before the bell that ALEF has been added to the Horizons Marijuana Life Sciences ETF (HMMJ). No allocation details were given, and it’s likely only a nominal amount at this point in time. Still, the symbolic nature of the inclusion signifies, optically, that Aleafia Health has arrived as a prominent player of the Canadian cannabis scene.

It’s been a busy news cycle for Aleafia over the past few days. Yesterday, the company announced the commencement of a joint medical cannabis study to improve the management and treatment of insomnia and daytime sleepiness with NASDAQ darling Cronos Group Inc. The study will be led by physicians practicing within the wholly-owner Canabo Medical Clinic network.

On September 10th, Aleafia announced it had secured its first sale of medical cannabis to CannTrust Holdings Inc., one of Canada’s major cannabis LPs. No actual figures were released, however, the optics of doing business with the sector’s finest was enough to catapult ALEF out of a brief consolidation range near $1.00/share, and into the two dollar level we see today. In this type of fear of missing out (FOMO) environment, business by association is often enough to send prices scampering higher.

Hon. Julian Fantino, former TPS Chief and current CEO of Aleafia Health Inc discusses his transition from law enforcement to cannabis health products

In summary, Aleafia seems to be rolling due to the obvious execution of their business plan. The company’s sales license was procured earlier this month, supply and clinical partnerships have been cemented with major cannabis industry players; and now, inclusion into the benchmark HMMJ ETF has been achieved. With ALEF already achieving a record daily volume threshold by midday, investors seem unfazed about adding to position even after the bullish run-up.

Midas Letter will provide additional coverage on Aleafia Health as further events warrant.

Original article: Aleafia Health Inc Rises Again On Cannabis ETF Addition

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