An operator license announcement was good news for investors in a cannabis retail stock Friday. Here’s some small stocks making big moves on Friday, March 22, 2019 (as of 4 pm EST):
Fire & Flower Holdings Corp. (TSXV:FAF), a cannabis retail stock, gained as much as 9% on Friday after announcing that stores operating under the Fire & Flower brand in Ottawa and Kingston have received both Retail Operator Licences and Retail Store Authorizations from the Alcohol and Gaming Commission of Ontario.
As well, shares of Wajax Corporation (TSX:WJX) slid 17% to $16.26 as the integrated distribution system operator said its fourth-quarter revenue rose 3.8% to $389.8 million, while EBIT for the quarter decreased $4.3 million to $11.5 million.
Integrated Asset Management Corp. (TSX:IAM), meanwhile, reported that it has agreed to be acquired by Fiera Capital Corporation for $55.5 million in cash and $18.5 million of Fiera Capital Class A subordinate voting shares. Integrated Asset Management stock popped 22% to $2.58 following the announcement.
Finally, Invictus MD Strategies Corp. (TSXV:GENE) shares rose 12% to $0.94 after the Canadian cannabis company announced that its licensed producer, AB Labs Inc., has received a medical sales and processing license from Health Canada effective March 16, 2019, which allows for the sale of final packaged flower, plants and seeds to retailers, distributers and patients.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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