An article in the Financial Post highlighted Friday Night Inc (CSE:TGIF) has made its public trading debut Friday on the Canadian Securities Exchange (CSE) and saw its shares spike 467 per cent (including an overnight share consolidation) to close its first day with a market value of $44.2 million, suggesting there is significant investor interest in companies with U.S. state licences to cultivate cannabis.
As quoted in the article:
Vancouver-headquartered Friday Night is the first pure-U.S. play publicly listed in Canada that is directly growing the plant in the U.S. for both medical and recreational use.
“The company’s objective is to capitalize on the opportunities presented as a result of the changing regulatory environment governing the THC and marijuana industry in the United States,” the company said in a June 12 filing.
Canadian marijuana companies have so far tiptoed around the lack of clear cut policies from regulators and the operator of Canada’s largest stock exchange by sticking to the U.S. medical market or ancillary businesses that don’t “touch the plant” and listing their U.S. investments on the less risk-averse CSE.