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THC Biomed Shares Up More than 80% on Receipt of ACMPR Sales License!

August 24, 2017

 (Image Credit - Sam Valadi via. Flickr

This morning, THC Biomed Intl Ltd. (CSE:THC)(OTC:THCBF) announced that the company has received their license to sell dried marijuana from Health Canada. For quite a while, THC Biomed has been supplying starting materials to registered patients wishing to grow their own medication, as well as other licensed producers that are just starting out. That being said, this new license opens up a significantly larger market for them and the stock price is reacting accordingly (and maybe even some more). 

 

Related: You Can't Grow Cannabis Without Starting Materials

 

In midday trading today, shares of THC Biomed are up more than 80% (no, that's not a typo, 80%) on both the CSE and the OTC Markets! Volume in the company's OTC Markets shares is already more than 9 times its 30-day average volume! 

 

Given this move that could be described as epic, it's worth having a look at the short interest in shares of THC Biomed, given that a short squeeze might be in the works here. According to the CSE's short interest statistics as of August 15th, 62,000 shares of THC Biomed are held short. This is a small percentage of the company's float, making it appear that today's move isn't a short squeeze, but rather people who are just plain bullish on THC Biomed. 

 

Despite today's move, shares of THC Biomed are still down roughly 35% year-to-date. We'll be watching to see how shares of THC Biomed trade going forward given today's big move, and news of their sales license. 

 

Conclusion

 

Learn more about THC Biomed by checking out the company's marijuana stock profile in our Canadian L.P. database. To view more marijuana stocks, check out our main marijuana stock database. Be sure to subscribe to our Canadian L.P. newsletter, so you never miss an important update from one of Canada's 54 LPs. Don't forget to connect with The Daily Marijuana Observer on FacebookTwitterStockTwits, and Instagram.

 

D/M/O

Disclaimer
 
Investing in nanocap, microcap, and small cap stocks is highly speculative. The publishers of DailyMarijuanaObserver.com are not registered as Investment Advisors or Broker-Dealers in any jurisdiction whatsoever. The information contained on DailyMarijuanaObserver.com (“this site”) has been prepared solely for informational purposes. Nothing on the site is an offer or solicitation to buy or sell securities. Investors should seek financial advice regarding the appropriateness of investing in any securities mentioned from their financial advisor.

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Disclaimer: Except for the historical information and data presented herein, matters discussed in articles on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future performance or achievements expressed or implied by such coverage. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. Before making specific investment decisions, readers should seek their own professional advice and that of their own professional financial adviser. Smoke Show Ventures, Inc. or its affiliates, which owns The Daily Marijuana Observer, may be compensated for its services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.dailymarijuanaobserver.com/legal-disclaimer/.