The US markets are open again this morning, as they were closed yesterday for Thanksgiving. Weed stocks were up and down yesterday on the TSXV, but are all mostly seeing green this morning. Trade volume is down, despite the reopening of markets down south.
Let's take a look at a trending weed stock on the TSXV today and its latest company movements.
Bevo Agro Inc. (TSXV:BVO)
There is a new mover in the Canadian cannabis space looking to make a statement. Bevo Agro was incorporated back in 1985 and operates out of Langley, British Columbia. The company provides propagated plants in North America. Bevo Agro sells its crop seedlings to greenhouse growers, nurseries, and retail spaces.
The company also operates 53 acres of greenhouse facilities in Langley, BC. With nearly 200 acres in land for greenhouses, the company has placed itself in a perfect position to move into the emerging Canadian cannabis market and become a dominant weed stock.
Nearly a month ago, Bevo announced that it would be merging with Zenabis Ltd, to become Zenabis Global. This is Bevo's first push in the cannabis space. In addition to the merger, Zenabis Global announced that they had signed a subscription agreement with National Access Cannabis (NAC) for up to $15 million of common shares.
>> Aleafia Stock: Canadian Cannabis Stock Corrects Despite Positive News
"We are elated that Zenabis has chosen to invest in NAC," said Mark Goliger, CEO of NAC.
Goliger continued:
"This financing represents a great validation of NAC's retail recreational and medical cannabis pharmacy models. NAC is ready to play a dominant role in providing safe and responsible legal access points across Canada, via an expected footprint of 200+ retail cannabis stores across five private retail provinces over the next 18 months under our brands, Meta Cannabis Supply Co. (META) and NewLeaf Cannabis and 100+ pharmacy partnerships."
Today, the weed stock is among the top trending on the TSXV. According to Yahoo Finance, BVO is trading at $6.45 a share, up +$0.26 (+4.20%).
Featured Image: Depositphotos/© morozzz
