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For stranded foreigners, this is perhaps one of the strangest winnings in the lottery. But to Limited weekend, a small Canadian cannabis retailer, picks up the rights to the coveted "POT" stock symbol in a competition that pitted 40 other companies, it's a great win.
Judging by the performance of the shares of Weekend Limited, which previously traded under the symbol "YOLO" last Friday, reaching 65% after the announcement of its gain at the POT ticker, investors apparently agreed, & nbsp;reported Bloomberg. Since Weekend Limited began trading on the Canadian Securities Exchange on October 15, two days before the coming into force of the Financial Markets Act in the country, the stock had fallen 57% since it entered into force. the stock market, "bringing its market value to 28.6 million Canadian dollars before the opening of negotiations Friday," noted the point of press.
Recently, 40 Canadian cannabis companies listed on the stock market competed for "The ticker symbol POT that was up for grabs." In the end, Weekend Limited was declared the winner of a random lottery. (Getty)Getty
In a statement released Friday, Paul Chu, CEO of Weekend Limited, said he is delighted with the benefits of this win for his company. "Weekend Unlimited (YOLO) is excited to add to its identity the iconic symbol of POT trading," he said. "Weekend Unlimited, as a growing multi-state operator, is developing style brands of leisure and well-being in order to define the future of the cannabis industry The pot symbol perfectly matches the identity of our brand. "
The POT symbol was previously used by Potash Corp, a Canadian fertilizer company. Last year he was put to the test after Potash merged with Agrium to form Nutrien, a new company trading under the "NTR" ticker symbol. Later, the desire of Canadian cannabis companies to reach the pot symbol POT as theirs was so high, the CST decided to hold its first random lottery last Wednesday to designate a winner. says Yahoo news.
According to a bulletin published on the CSE website on January 15, 2019, "the symbol reservation will not be transferable and only the selected entrant will be allowed to use the symbol".
Although not as important as the booming US economy, but still illegal at the federal level, the Canadian marijuana industry should generate $ 5.4 billion This estimate was made last year by ArcView Group, a San Francisco-based marijuana research and investment firm, in partnership with BDS Analytics, a Boulder researcher specializing in cannabis.
Weekend Limited will begin trading under the ticker symbol on Monday, February 4, 2019.
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For stranded foreigners, this is perhaps one of the strangest winnings in the lottery. But for Weekend Limited, a small Canadian cannabis retailer, picking up the coveted "POT" stock symbol in a contest that pitted 40 other companies, is a big win.
Judging by the performance of the shares of Weekend Limited, which previously traded under the symbol "YOLO" last Friday, reaching 65% after the announcement of its victory at the ticker of the POT, investors apparently agreed, a reported Bloomberg. Since Weekend Limited began trading on the Canadian Stock Exchange on October 15, two days before the pot came into effect in the country, the stock had sunk by 57% since it was floated on the stock market. its market value to 28.6 million Canadian dollars before its opening Friday ". noted the point of press.
Recently, 40 Canadian publicly traded cannabis companies competed for the "POT" symbol that was up for grabs. In the end, Weekend Limited was declared the winner of a random lottery. (Getty)Getty
In a statement released Friday, Paul Chu, CEO of Weekend Limited, said he is delighted with the benefits of this win for his company. "Weekend Unlimited (YOLO) is excited to add to its identity the iconic symbol of POT trading," he said. "As a growing multi-state operator, Weekend Unlimited is developing lifestyle brands focused on leisure and well-being to define the future of the cannabis industry: the symbol of the POT. harmonizes perfectly with the identity of our brand. "
The POT symbol was previously used by Potash Corp, a Canadian fertilizer company. Last year, the merger of Potash and Agrium gave birth to Nutrien, a new company listed under the symbol "NTR". Later, the desire of Canadian cannabis companies to reach the symbol of the POT as the CST decided to hold its first-ever random lottery last Wednesday to designate a winner, announced Yahoo News.
According to a bulletin published on the CSE website on January 15, 2019, "the symbol reservation will not be transferable and only the selected entrant will be allowed to use the symbol".
Although smaller than the flourishing US economy but still illegal at the federal level, the Canadian marijuana industry is expected to generate $ 5.4 billion for the medical and recreation markets by 2022. This estimate was made last year by ArcView Group, a San Francisco-based research and investment company, in partnership with BDS Analytics, a Boulder-based cannabis-focused market research.
Weekend Limited will begin trading under the ticker symbol on Monday, February 4, 2019.
