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Cannabis-infused beverages… yes or no?

  • The ASX200 closed 0.1% lower at 7527.10 on Wednesday.
  • BlueBet rebounds following positive broker note out of Morgans.
  • Althea Group soared 21% on cannabis-infused drinks partnership.

The Australian market closed 0.10% lower at 7527.10 on Wednesday as consumer staples stocks weighed down the ASX. The worst performing stock today was Blackmores which closed the session down almost 7%.

The tech sector closed slightly lower today as Nuix’s more than 5.5% gain balanced out losses for Appen, IRESS and Afterpay.

Bitcoin is trading 0.49% higher in the last 24-hours at US$47,242.83 at 4:45pm AEST.

Shares in Australian-based online bookmaker BlueBet rebounded today following a positive broker note out of Morgans. Following the release of BlueBet’s FY21 results, the broker retained its ‘add’ rating and lifted its share price target to $2.80, with expectations of the company to further grow in 2022.

Making headlines, medicinal cannabis producer Althea Group soared more than 21% today after announcing it would be producing cannabis-infused beverages for the Boston Beer Company. Under the deal, Althea’s subsidiary business, Peak Processing Solutions, will be infusing cannabis into The Boston Beer Company’s subsidiary BBCCC’s products to create the non-alcoholic beverages.

And the ninth oldest man in the UK, John Tinniswood aged 109, has gone viral after attributing his long life to a plate of fish and chips every Friday evening.

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