Canadian Cannabis Stock Surges on Financial Results

Village Farms International, Inc. (TSX:VFF), a Canadian cannabis stock, jumped after swinging to a first-quarter profit

Sean Mason | May 10, 2019 | SmallCapPower

First-quarter financial results propelled a Canadian cannabis stock sharply higher Friday. Here’s some small stocks making big moves on Friday, May 10, 2019 (as of 4 pm EST):

Village Farms International, Inc. (TSX:VFF), a Canadian cannabis stock, climbed 15% to $16.94 on Friday after announcing that its first-quarter sales increased to US$37.3 million from $29.5 million, while swinging to a profit of US$0.16 per share from a loss of US$0.03 per share during the same period last year.

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As well, shares of Neovasc, Inc. (TSX:NVCN) fell 12% to $0.66 as the specialty medical device company said its Q1 revenue increased 72% to $585,793, while its total expenses for quarter rose 8%.

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Westport Fuel Systems Inc. (TSX:WPRT), meanwhile, reported first-quarter consolidated revenue that rose 15% to US$73.2 million. Westport stock popped 34% to $3 following the announcement.

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

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