Canopy Rivers (TSX:RIV,OTC Pink:CNPOF) became the most recent in a growing number of cannabis companies to list on the Canadian senior exchange.

Despite the company’s uplisting to the Toronto Stock Exchange (TSX), shares for the cannabis investment firm declined on Monday (September 9) nearly 2 percent for a closing price of C$2.48.


The listing comes less than a year after Canopy River’s initial public transaction on the sibling venture exchange. Shares of the company started trading on the TSX normally today.

US Election 2020 and Cannabis

 
Investing in cannabis? Read what experts have to say about cannabis and the US Election!
 

The listing also comes less than a month after the Ontario-based cannabis company first received conditional approval to move from the TSX Venture Exchange and list its class A subordinate voting shares on the TSX.

In a press release, Canopy Rivers CEO Narbe Alexandrian said a TSX listing will offer enhanced liquidity to shareholders.

Canopy Rivers, the investment arm of cannabis giant Canopy Growth (NYSE:CGC,TSX:WEED), was recently lauded by CIBC Capital Markets research analyst John Zamparo after releasing results for its first quarter of 2020.

The analyst rated the company as an “outperformer” and noted the stock was undervalued, though the company reported a loss of C$2.9 million in its most recent quarter, and expects to keep seeing these quarterly losses.

Canopy Rivers has been making strides to establish itself as a venture capital investor. During a panel at the MJBizConINTL in Toronto, Alexandrian said in the last 365 days, the firm has heard from over 1500 entrepreneurs to get a sense of the general cannabis market.

Canopy Rivers works with Canopy Growth to identify strategic partnerships and makes investments to help bolster those partners and grow its overall portfolio.

Alexandrian explained he wants to see more targeted approaches from cannabis companies, rather than a one-size fits all business model.

The executive was critical of the stock market adding gone are the days of hype and promotion for cannabis companies, instead investors are only interested in results.

Alexandrian added that now, the struggle for Canopy Rivers is dealing with companies that have little capital but big plans that include multi-industry integration. He said that for small to midsize companies, the best plan of action is to narrow their focus to a few key capabilities and outsource other tasks.

Canopy Rivers joins Delta 9 Cannabis (TSX:DN,OTCQX:VRNDF) as one of the most recent cannabis stocks on the TSX. The Manitoba-based cannabis producer announced in August that it began trading its shares on the TSX last week.

Analyst consensus on TipRanks of Canopy Rivers has the stock listed as a “Strong Buy” with a price target of C$6.58.

Don’t forget to follow us @INN_Cannabis for real-time news updates!

Securities Disclosure: I, Danielle Edwards, hold no direct investment interest in any company mentioned in this article.

US Election 2020 and Cannabis

 
Investing in cannabis? Read what experts have to say about cannabis and the US Election!
 

Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Aurora Cannabis, Inc. (“Aurora” or the “Company”) (NYSE: ACB) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Aurora securities between February 13, 2020, and September 4, 2020, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/acb .

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

Keep reading... Show less

Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Aurora Cannabis Inc. (NYSE: ACB) between February 13, 2020 and September 4, 2020, inclusive (the “Class Period”), of the important December 1, 2020 lead plaintiff deadline in the securities class action. The lawsuit seeks to recover damages for Aurora investors under the federal securities laws.

To join the Aurora class action, go to http://www.rosenlegal.com/cases-register-1965.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

Keep reading... Show less

Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of Aurora Cannabis Inc. (NYSE: ACB) from February 13, 2020 through September 4, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Aurora Cannabis Inc. investors under the federal securities laws.

To join the class action, go here or call Vik Pawar, Esq. toll-free at 888-589-9804 or email info@pawarlawgroup.com for information on the class action.

Keep reading... Show less

The Israeli cannabis market is picking up with a new supply deal from a Canadian producer.

Also this week, new data showed sales of Canadian cannabis edible products may be stalling.

Keep reading... Show less

The Israeli cannabis market is picking up as a Canadian producer announced a new supply deal in the country.

Also this week it was shown the sales of Canadian cannabis edible products may be stalling, according to new data.

Keep reading... Show less