Bedrocan, OrganiGram Make Strong Debuts on TSX Venture Exchange
Reuters reported that shares of both Bedrocan Cannabis Corp. (TSXV:BED) and OrganiGram Holdings Inc. (TSXV:OGI) soared today after the companies started trading on the TSX Venture Exchange.
As quoted in the market news:
The companies are the first major alternatives to Tweed Marijuana Inc, which was listed in April. The offerings mean three of the 13 medical marijuana producers licensed by regulator Health Canada are now public.
Investors piled into the two stocks, pushing them well above their issued prices of 85 Canadian cents per share.
Both retail and institutional investors are showing strong interest in the Canadian medical marijuana industry, which the government projects will reach $1.3 billion in a decade.
Bedrocan shares advanced to $1.20, while OrganiGram gained to $1.94. More than 4 million Bedrocan shares had changed hands by early afternoon, making it the second most heavily traded stock on the venture exchange.