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Cannabis Summary for April 24, 2020

2020-04-24 20:00 ET - Market Summary

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by Stockwatch Business Reporter

The S&P/TSX Cannabis Index gained 4.07 points Friday, finishing the week up 6.35 points. The Canadian Securities Exchange Composite Index, meanwhile, rose 6.16 points to 305.14 Friday, ending the week up 22.7 points. Jason Wild and Jason Ackerman's TerrAscend Corp. (TER) gained 18 cents to $2.90 on 184,300 shares after releasing its fourth quarter and full-year 2019 results. In the middle of Q4, in November, the company vowed to focus on the United States market, which it saw as much more lucrative than Canada's cannabis market. TerrAscend's fourth quarter results made it clear that the company's exit from the Canadian market was happening quickly. Out of $25.9-million in Q4 sales, $24-million were made in the U.S. The company did not break down its U.S./Canada revenue split for Q3, but TerrAscend's overall Q4 revenue was down slightly from $26.8-million in Q3, indicating that the company's Canadian sales were relatively small.

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