19:35:48 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Aurora Cannabis Inc
Symbol ACB
Shares Issued 1,020,378,291
Close 2019-11-04 C$ 4.72
Market Cap C$ 4,816,185,534
Recent Sedar Documents

FP/wire say Canopy, rivals hear new pot listing slow

2019-11-05 09:40 ET - In the News

See In the News (C-WEED) Canopy Growth Corp

The Financial Post reports in its Tuesday edition that the slump in pot stocks has not affected the amount of financing activity in the space, but it has had a impact on the type of deals being done. A Bloomberg dispatch to the Post reports that the Canadian Securities Exchange, which lists 173 pot stocks, closed 614 financings worth $2.47-billion through September compared with 622 worth $2.57-billion for the same period last year. Of the money raised, 78 per cent went to pot companies, unchanged from last year. However, a deeper dive into the data shows that primary listings have been replaced by secondary offerings as fewer companies go public and those that are already public seek more financing. Pot stocks have lost more than half their value since March amid disappointing results and regulatory issues. "The numbers show that on a year-to-date basis we're tracking just behind 2018 in terms of the amount of money raised, but the nature of that money has changed," says CSE chief executive officer Richard Carleton. Last year, 51 per cent of deals done on the CSE were reverse takeovers, cannabis companies' favoured method of listing on the public markets. This year, that number is just 14 per cent.

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