Insights

Creso Pharma (ASX:CPH) share price up 8% today, 200% in a week

The Creso share price has been rising for the last two days, since news was announced that the United Nations will reclassify cannabis.
The post Creso Pharma (ASX:CPH) share price up 8% today, 200% in a week appeared first on The Motley Fool Australia. –

cannabis leaves on a rising line graph representing growth of ASX cannabis shares

The Creso Pharma Ltd (ASX: CPH) share price has been rocketing higher over the last few days of trading, driven by positive updates. These included an announcement yesterday that the United Nations (UN) will reclassify cannabis as a less dangerous drug. 

The Creso share price has risen by 200% since 27 November, including a 65% price rise yesterday, and today’s increase of 8.25%. At the time of writing, Creso shares are trading at 10.5 cents.

UN landmark announcement

Creso announced yesterday that it is set to benefit from a landmark UN decision to reclassify cannabis as a less dangerous drug.

The vote was cast by the UN on 2 December 2020, after a series of recommendations were put forward by the World Health Organisation (WHO).

The decision will see the UN Commission on Narcotic Drugs withdraw cannabis from Schedule IV classification. Schedule IV substances are considered the most dangerous and addictive drugs.

The UN says that cannabis will now be reclassified as a Schedule I substance, which is the least restrictive drug classification.

Creso said its business is extremely well positioned to benefit from this ruling, which will unlock multiple near-term opportunities.

What else is driving the Creso share price higher?

Two days ago, Creso announced it has received three new purchase orders from Europe for its anibidiol line of animal health products. 

According to Creso, the new orders take total purchase orders generated through the company’s animal health segment to around $975,000 for 2020, reflecting the strong demand for its products.

Creso said these purchase orders are a major achievement for the company during the challenging regulatory situation and COVID-19 pandemic. The company expects to receive more orders over the next few months from the growing European animal health market.

In another positive development last month, Creso reported it was waiting for a Therapeutic Goods Administration (TGA) decision in late December that will be a game-changer for cannabidiol (CBD) products.

The TGA is making a decision that could see CBD products sold over the counter at pharmacies without the need for a prescription.

Creso said this decision could potentially open up a significant, new opportunity for the company, with the Australian market estimated to be worth around $200 million every year.

How has the Creso share price performed in 2020?

With its recent stellar gains, the Creso share price has almost regained its losses in 2020 and is now down 8.5% for the year. After a fantastic few days of trading for Creso, the company currently commands a market capitalisation of around $65 million.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

More reading

Motley Fool contributor Eddy Sunarto has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Creso Pharma (ASX:CPH) share price up 8% today, 200% in a week appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!