One of the publicly listed cannabis companies that often finds a place in the Top-10 list for the Stockhouse Bullboards is industry leader, Canopy Growth Corp (
TSX: WEED,
OTCQB: TWMJF,
Forum). No surprise there.
However, today the WEED Bullboard was lighting up on
big news (no pun intended): Corona beer maker, Constellation Brands, has acquired a 9.9% strategic equity holding in Canopy Growth. This news not only caused WEED’s shares to
soar higher by 19% today, it was largely responsible for taking the S&P/TSX Composite over the 16,000 threshold for the first time.
While this news is obviously of particular interest to WEED and its shareholders, most of these publicly listed cannabis companies (and their shareholders) will be enthused by this announcement. Already, medicinal cannabis companies have been making inroads in the world of biopharma. Now recreational-use cannabis looms as a major competitor to both the alcohol and tobacco industries.
To date, these industries have been slow to adapt to this major change in in the trillion-dollar market for legal recreational drugs. Will the investment from Constellation Brands signal the start of a feeding-frenzy, as alcohol/tobacco companies seek to acquire a presence in this sector? Undoubtedly that was one of the topics up for discussion on the WEED Bullboard today, among more than 25,000 hits on that page.
What else was capturing the interest of investors on the Stockhouse Bullboards? Once again, familiar names dominate the list: Theralase Technologies (
TSX: V.TLT,
OTCQB: TLTFF,
Forum), Novo Resources Corp. (
TSX: V.NVO,
OTCQB: NDRPF,
Forum), Aphria Inc. (
TSX: APH,
OTCQB: APHQF,
Forum), ProMetic Life Sciences Inc. (
TSX: PLI,
OTCQB: PFSCF,
Forum), Aurora Cannabis Inc. (
TSX: V.ACB,
OTCQB: ACBFF,
Forum), and Garibaldi Resources Corp. (
TSX: V.GGI,
OTCQB: GGIFF,
Forum).
Notably, cannabis companies Aphria (+8%) and Aurora (+5.26%) were also strongly higher today. This suggests that (for at least one day) Canopy’s big news
is generating traction across the sector.
Along with these familiar names were three other companies. LeoNovus Inc. (
TSX: V.LTV,
OTCQB: LVNSF,
Forum) is another junior tech company looking to capitalize on the blockchain revolution.
Mission Ready Services Inc. (
TSX: V.MRS,
OTCQB: MSNVF,
Forum) is a public company that first surfaced on the Stockhouse Bullboards near the end of summer. MRS “provides services and products for global defense, security and protective services agencies”. Its share price spiked following the announcement of a major, new deal, immediately after Labour Day.
Another company that has often been visible on the Bullboards in recent weeks is Far Resources Ltd. (
CSE: FAT,
OTCQB: FRRSF,
Forum). FAT has seen its share price nearly double, after recent news on the Company’s high-grade lithium project.
Today on the Stockhouse Bullboards, the focus was on pot. Tomorrow? Maybe it will be tech, maybe it will be mining, maybe it will be energy. Whatever your small-cap focus, the Stockhouse Bullboards are your best investor resource to catch the latest “buzz” on your favorite companies.
FULL DISCLOSURE: Theralase Technologies Inc. is a paid client of Stockhouse Publishing.