Cannabis Retail Stock Moves Higher on Licensing News

Published:

Fire & Flower Holdings Corp. (TSXV:FAF), a cannabis retail stock, climbed after receiving Retail Operator Licences for its stores in Ottawa and Kingston

Sean Mason | March 22, 2019 | SmallCapPower

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.

For Our Complete Coverage Of Canadian Marijuana Stocks Click Here   

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.

Win Big With Our Small Cap Picks

 

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.

See more Small and Micro Cap Market Movers Daily from Sean Mason. Tomorrow’s big stock market winners could be found here today!

Hi, did you know SmallCapPower accepts blog submissions? You can contact me here

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:

Related articles

Recent articles