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Buzz on the Bullboards: Old favourites make their return


Jonathon Brown Jonathon Brown, The Market Online
0 Comments| September 14, 2023

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September is often seen as a “fresh start” for the markets, like a new year on the stock exchange, but this party was met with a serious hangover in the shape of poor performances among sectors that only just recently began to turn around.

One market we have been tracking closely of late is cannabis, which has managed to see a boost in performance among many of its stocks. Many analysts and experts point to recent news that the U.S. government is reconsidering how it classifies marijuana.

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The Department of Health and Human Services has reportedly recommended reclassifying marijuana as a lower-risk Schedule III drug, from Schedule I, easing restrictions on businesses operating in the sector.

It has been a bumpy year for Canopy Growth Corp. (TSX:WEED, Forum). After trending downward since February, WEED stock has risen more than 85 per cent over the past three months, the most recent jump was its nearly 23 per cent rise last Friday. Though WEED stock is down 64 per cent from this time last year, it has skyrocketed more than 220 per cent in past month alone.


What the “Buzz”

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This comes as the Senate Banking Committee moves to vote on the Secure and Fair Enforcement (SAFE) Banking Act, which is proposed legislation that aims to remove penalties for companies that provide banking and other financial services to legitimate cannabis-related businesses.

The vote is scheduled for Sept. 18. Currently, traditional financial institutions do not facilitate cannabis-related transactions because of marijuana’s federal illegal status.

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Clean technology company Exro Technologies’ (TSX:EXRO, Forum) stock rose 0.91 per cent to end Wednesday trading after announcing the official start of production of its Coil Driver traction inverter.

The Coil Driver is an adaptive electric vehicle traction inverter enabling enhanced power and efficiency at high speeds. Current purchase orders include Italian OEM supplier HB4 Group and Canadian electric bus and commercial vehicle manufacturer Vicinity Motor (TSXV:VMC).

HB4 is an Italian Tier-1 OEM supplier of vehicle lighting systems, radio keyless systems, batteries, electric motors, fuel tank caps and other components to clients such as Casalini, Ducati, Ferrari, KTM, Aprilia, Harley Davidson and MV Agusta. Exro and HB4 are collaborating on a small passenger vehicle and a small commercial truck manufactured by Casalini in Italy. HB4 has placed an initial order of 500 Coil Drivers, with growing volumes over a three-year term, following on-road testing that showed a more than 20 per cent range increase over HB4’s predecessor powertrain inverter technology.

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Source: Exro Technologies.

Vicinity will begin to deliver its 400V TSA motors for electric buses paired with Coil Drivers by the middle of Q4 2023. The companies plan to unveil their technology in October at the APTA Expo, the world’s largest public transportation showcase, in Orlando, Florida.

Exro’s 3,437 square metre manufacturing facility in Calgary will produce up to 100,000 Coil Driver units per year under European automotive standards for technical cleanliness and track and trace. The net-zero targeted facility represents a strategic onshore supply chain solution for key powertrain components.

Exro’s network of channel sales partners is fielding a high volume of quotes for initial applications with first pilots and purchase orders expected later this year.

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Finally, longtime favourite stock among Bullboard users, PyroGenesis Canada (TSX:PYR, Forum) made big news this week. The company secured a C$2.25 million contract to destroy Perfluoroalkyl and Polyfluoroalkyl substances on behalf of a large operator of public water systems.

The company will supply a plasma torch system as a major component of the overall solution to safely destroy the hazardous materials.

The U.S. client – whose name is being withheld for confidentiality reasons – has issued a 20 per cent upfront payment of approximately $516,800.

Perfluoroalkyl and Polyfluoroalkyl substances are composed of some 15,000 man-made chemicals with widespread use in consumer products such as nonstick cookware, stain-resistant carpet coatings, upholstery, water-resistant clothing, cleaning products and personal care and cosmetics products.

We’ll dive back into the Bullboards again next week and see where the small-cap markets are headed. PyroGenesis may be on top for now, but no monarch is forever, and an uncertain market demands constant attention from investors to stay up-to-date and ready. For previous editions of Buzz on the Bullboards, click here.

Join the discussion: Find out what everybody’s saying about public companies and hot topics about stocks at Stockhouse’s stock forums and message boards.


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The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, click here.



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