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Cannabis Summary for Jan. 29, 2020

2020-01-29 19:30 ET - Market Summary

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by Stockwatch Business Reporter

The S&P/TSX Cannabis Index fell 4.89 points to 208.27 Wednesday, while the Canadian Securities Exchange Composite Index gained 6.16 points to 421.31. Scott Boyes's MPX International Corp. (MPXI) gained two cents to 38.5 cents on 154,700 shares. Yesterday, after the market closed, MPX released its results for the fiscal year ended Sept. 30, 2019, reporting a loss of $9.3-million. MPX International is trying to establish itself as a global cannabis company. It has operations in countries such as Canada, Australia, South Africa, Malta, Belgium and England.

Instead of having a focused, singular business model, MPX has dipped its toes into a variety of areas through subsidiaries. It has HolyWeed, a CBD producer based in Switzerland; Canveda Inc., a growing operation in Ontario that can grow 1,200 kilograms of "high-quality" marijuana; Spartan Wellness, a veteran-focused medical cannabis subsidiary; Salus BioPharma, which develops pharma-grade CBD medical products in Canada and in Malta; MPX Australia, which has a growing and processing operation from which it hopes to supply the Australian, New Zealand and Southeast Asia markets.

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the strong will survive

Posted by kaplatt at 2020-01-31 10:27