The newest cannabis stock on the Toronto Stock Exchange is MedReleaf. MedReleaf joins the three other ACMPR licensed producers currently trading on the TSX; Canopy Growth, Aphria and CanniMed Therapeutics. Shares of MedReleaf started trading today under the symbol "LEAF". Given the recent selloff in quite a few of the LPs we'll be watching shares of LEAF closely.
MedReleaf is an Ontario-based licensed producer under the Access to Cannabis for Medical Purposes Regulations (ACMPR). MedReleaf was initially licensed by Health Canada in February of 2014 and has two licensed sites. The first site has licenses to cultivate, produce and sell both dried cannabis and cannabis oils. At the moment, the second site only has a production license, although this site was just licensed in April of 2017.
Shares of MedReleaf opened at $7.77 CAD, down more than 18% from their IPO price of $9.50 CAD. In early trading Wednesday, LEAF is around $7.20 CAD, down nearly 25% from the IPO price. We'll be watching to see how shares trade through the rest of today's session.
I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article.
This site has been designed for informational and educational purposes only and does not constitute an offer to sell nor a solicitation of an offer to buy any security which may be referenced upon the site. The services and information provided through this site are for personal, non-commercial, educational use and display. www.dailymarijuanaobserver.com does not provide investment advice through this site and does not represent that the securities or services discussed are suitable for any investor. Investors are advised not to rely on any information contained in the site in the process of making a fully informed investment decision.