This week, the majority of the focus in the Canadian cannabis market is going towards Aurora Cannabis (TSE:ACB). Why? Because the cannabis company finalized its pricey acquisition of Saskatchewan-based CanniMed Therapeutics (TSE:CMED) last week. However, I’m going to move my attention this week to cannabis stocks that are trading higher on their respective exchanges. Today, we are going to be taking a look at one cannabis stock, in particular - Wildflower Marijuana Inc., which is currently seeing green on the Canadian Securities Exchange.
The Canadian Cannabis Market: March 20, 2018.
Wildflower Marijuana Incorporated (CNSX:SUN)
Based in Vancouver, British Columbia, Wildflower Marijuana is a cannabis company that focuses primarily on developing branded products that are infused with cannabis. The company has been relatively successful over the course of the past three months. For instance, Wildflower Marijuana hit a new 52-week high at the start of January and closed a $2 million private placement at the start of February. This month, however, things seem to have picked up.
Yesterday, Wildflower Marijuana disclosed that it had signed an agreement to obtain a number of marijuana licenses in Los Angeles. CEO William MacLean openly discussed the acquisition, describing it as a "phenomenal opportunity for Wildflower.” Now, it appears the market agrees with MacLean. How do I know? Well, just take a look at the stock.
Currently, Wildflower Marijuana is trading at $1.85 on the Canadian Securities Exchange. This puts the SUN stock up $0.05, or 2.78%. The cannabis company has received 184 stock trades so far, and currently has a market capitalization of 81.40 million.
Wildflower Marijuana: The Takeaway
Considering Wildflower has acquired these cultivation and retail licenses in the City of Angels, I would assume good things are on the horizon for the B.C.-based company. However, nothing is ever a guarantee on the market, so it will be important for investors to keep checking in over the next couple of weeks to hear if anything else has been announced.
Featured Image: RethinkCanada
