Canadian Cannabis Stock Moves Higher on Operations Update

Fire & Flower Holdings Corp. (TSX:FAF), a Canadian cannabis stock, climbed after reopening some of its stores for curbside pickup and home delivery

Sean Mason | April 8, 2020 | SmallCapPower

A promising business development boosted a Canadian cannabis stock Wednesday. Here’s some small stocks making big moves on Wednesday, April 8, 2020 (as of 4 pm EST):

Fire & Flower Holdings Corp. (TSX:FAF), a Canadian cannabis stock, rose 9% to $0.44 on Wednesday after announcing that its stores in Ottawa and Kingston, Ontario will reopen on April 9, 2020 and offer online ordering and payment, curbside pickup and home delivery for cannabis products through the Spark Fastlane service available through Spark Perks.

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As well, shares of HEXO Corp. (TSX:HEXO) sank 26% to $0.71 as the Canadian cannabis company said it plans to raise approximately C$40 million through a public equity offering at a price of C$0.77 per unit.

Intertape Polymer Group Inc. (TSX:ITP), meanwhile, reported that its North American and European manufacturing operations are open and producing as a result of the essential nature of the end markets it serves. Intertape Polymer Group stock popped 19% to $12.02 following the announcement.

Finally, Neptune Wellness Solutions Inc. (TSX:NEPT) shares gained 10% to $1.79 after the provider of health and wellness products announced that the Phase II expansion at its Sherbrooke, Quebec facility is operational and has been approved to run product for customers, bringing the Company’s capacity to 200,000 kg.

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Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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