Output expectations lit a fire under a Canadian marijuana stock Friday. Here’s some small stocks making big moves on Friday, January 4, 2019 (as of 4 pm EST):
The Supreme Cannabis Company, Inc. (TSXV:FIRE), a Canadian marijuana stock, continued to move higher Friday, up 5% to $1.57 following a 13% gain on Wednesday, after announcing that it has 19 completed flowering rooms and is on track for all 25 flowering rooms to be completed in March 2019. The Company added that it expects 7ACRES to reach its estimated annual output of 50,000 kg by the middle of calendar 2019.
As well, shares of Kinder Morgan Canada Limited (TSX:KML) plunged 70% to $4.92 as the energy infrastructure provider said it expects to generate $213 million of Adjusted EBITDA and $109 million of distributable cash flow in 2019, a significant reduction from the past two years due to the sale of Trans Mountain.
Hudson’s Bay Company (TSX:HBC), meanwhile, reported that Richard Baker has agreed to acquire 17,953,536 of the Company’s common shares from the Ontario Teachers’ Pension Plan at a price of C$9.45 per share. Hudson’s Bay stock moved up 16% to $8.52 following the announcement.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
To read our full disclosure, please click on the button below:
The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source. Ubika and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts in certain underlying companies mentioned in this site and which may also be clients of Ubika’s affiliates. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.