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2018 is the Year of the Cannabis IPOs
According to a The Street: Real Money article, 2018 has been the year of IPOs in the cannabis space.
According to a The Street: Real Money article, 2018 has been the year of IPOs in the cannabis space. So far, MedMen (CSE:MMEN), Green Organic Dutchman (TSE:TGOD) and Tilray (NASDAQ:THRY) have gone public with varying results. MedMen’s IPO did not go at the start, but has been slowly making its way higher in the charts, while the Green Organic Dutchman started out strong only to stumble later and is slowly gaining some traction in the market again. Tilray has been the only cannabis stock that has been consistently doing well since it’s IPO. Tilray has been able to make 95 percent more than it did last year in its second quarter and its stocked jumped 10 percent on Tuesday this week after the company announced its results.
The article discussed the cannabis companies with IPOs that have been causing a lot of talk in the market place, the Flowr Corporation is one of those companies. Flowr intends to “list its shares on the TSX Ventures Exchange” within the first couple of weeks in September. Flowr has agreements in place with the British Columbia Liquor Distribution Board, which is the sole retailer of recreational cannabis post-legalization in October and Flowr’s research and development agreement with Scotts Miracle-Gro subsidiary Hawthorne Gardening Company.
The article highlighted four additional cannabis companies that are looking to list by the end of the year. The companies include Acreage Holdings, a vertically-integrated cannabis investment company; Curaleaf, a holding company that specializes in the medical cannabis industry; Canopy Rivers, a spin off from its parent company Canopy Growth (TSE:WEED); and Charlotte’s Web, a high-quality hemp producer.
To read the full article, click here.
Subsequent to this press release, The Flowr Corporation went public on September 26, 2018 under the ticker symbol TSXV:FLWR.