After a volatile five months, Aleafia stock may have gotten the window of opportunity that Aleafia Health (TSXV:ALEF) (OTCQX:ALEAF) needs to get back in on the action.
On Thursday, February 21st, Aura Health (CSE:BUZZ) (OTC:LMLLF) announced an increase in the size of its private placement subscription receipt offering. The Offering is now a maximum of $7,260,000 and comes because of investor demand. So what does this have to do with Aleafia Health and its stock?
Aleafia Stock Today
According to Aura Health, which is a Canadian company building a network of vertically integrated cannabis assets, Mackie Research Capital Corporation will act as the lead agent in the Offering. Aleafia Health, which is a vertically integrated cannabis company, will also participate in the Offering.
Aleafia will act as a key strategic investor in the Offering; the cannabis company will also be subscribing for 10,545,454 Subscription Receipts for an aggregate investment in Aura Health. The investment in Aura Health comes to $2.32 million. More details can be found here.
On the day of the news, Aleafia stock closed at $1.91, according to Yahoo Finance. As of 3:20 PM EST on February 22nd, Aleafia stock is up 2.09% and is trading at $1.95. This is on the OTC market. The cannabis company was also named the top performing company of the year for TSX Venture 50 yesterday, which could have also played into today’s results for Aleafia stock.
Aleafia Health: A Must Watch Company
Over the past five months, Aleafia stock has been on a rollercoaster but appears to be settling down. ALEAF stock soared in September 2018, began a steady decline near the end of 2018, and has since begun upward movement. Despite the volatility, however, Aleafia Health has had a “landmark year,” according to the company’s CEO Geoff Benic.
When we combine the cannabis company’s strong foundation, recent acquisitions, and the closing of the Emblem deal with being a strategic investor in an Offering that saw high investor demand, it seems feasible that Aleafia stock could be ready to jump again. Only time will tell, though. So, be sure to add this cannabis company to your watch-list.
Featured Image: Canva