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This Pot Stock Just Surged 90% for the Stupidest Reason Ever

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More than 3 dozen hashish firms implemented for the POT image at the Canadian Securities Exchange after it changed into to be had this week. Potash Corporation relinquished the emblem, and such a lot of Canadian firms sought after it that the CSE ran a first-ever random lottery for the emblem. A small company in Vancouver, Weekend Unlimited, received the ticker within the lottery.

The corporate previously had the ticker YOLO, which stands for “you only live once.” Most websites like TradingView had been nonetheless appearing YOLO as the corporate’s ticker. In the 24 hours after it formally changed into POT, it surged 65%.

Pot Stock Almost Doubles after Winning Coveted Ticker Symbol

pot stock weekend unlimited

YOLO/POT (Weekend Unlimited) rose greater than 90% within the 24-hour duration.

At the time Bloomberg wrote at the matter previous as of late, YOLO/POT was once at the approach up. By press time it had risen greater than 90% over the 24-hour duration. The inventory marketplace is a mental sport. Traders consider in logo reputation. The technique is most probably alongside those strains: as other folks are available in and spend money on the marijuana business, one of the most first symbols they’re going to imagine is POT.

In a ready commentary, Weekend Unlimited CEO Paul Chu says:

Weekend Unlimited is delighted so as to add the long-lasting POT buying and selling image to its identification. As a fast-growing multi-state operator, Weekend Unlimited is creating way of life manufacturers round leisure and wellness to lend a hand outline the way forward for the hashish business. The POT image is an incredible are compatible with our logo identification. […] The POT lottery served to boost the profile of Canada’s management in felony leisure hashish and we consider it’s going to additionally serve to boost Weekend Unlimited’s profile.

Weekend Unlimited was once no longer at the checklist of eight hashish firms given a “buy” or “speculative buy” score by Canaccord recently. Perhaps the one pot inventory at the checklist with a memorable image is Curafleaf, whose ticker is CURA.

Other inventory exchanges have POT symbols, however the CSE may well be the one one the place this can be a hashish corporate. The New Zealand trade, as an example, has POT – Port Of Tauranga NPV. According to Bloomberg, there might quickly be some other YOLO image at the New York Stock Exchange, created through AdvisorShares Pure Cannabis ETF.

Featured Image from Shutterstock

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