The Weekend Unlimited Inc. (CSE:YOLO) (OTC:WKULF) is dominating the CSE today. Currently, YOLO stock is trading up over 100% for the day. The cannabis stock is leading the CSE in both trade volume and number of trades. I'm sure you're wondering, why is the stock jumping up so much? Well, let's find out!
YOLO Stock Up Over 100% Today
Weekend Unlimited Inc. currently operates in the regulated cannabis industry in Canada and the US. The company was incorporated back in 2017.
So, why is YOLO stock up so much? Well, the Weekend Unlimited has just been informed it won the lottery for the trading symbol 'POT' on the Canadian Securities Exchange.
"Weekend Unlimited is thrilled to add the iconic POT trading symbol to its identity," said Mr. Paul Chu, Weekend Unlimited President and CEO. "As a fast-growing multi-state operator, Weekend Unlimited is developing lifestyle brands around recreational and wellness to help define the future of the cannabis industry. The POT symbol is a tremendous fit with our brand identity."
The POT symbol is in high demand, and the Toronto Stock Exchange (TSX) announced the lottery for the symbol in January 2019. The current YOLO stock symbol will cease to exist after today, and the company will begin trading under POT on Monday, February 4th.
Mr. Chu added, "There has been tremendous excitement generated globally for the POT symbol. The POT lottery served to raise the profile of Canada's leadership in legal recreational cannabis and we believe it will also serve to raise Weekend Unlimited's leadership profile."
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YOLO Stock Movement
According to Yahoo Finance, the marijuana stock is trading at $0.24 a share, up +$0.125 a share, or +108.70%. For the week, YOLO is up 100%. For the month, the company's stock is up nearly 200%. The stock has corrected slightly from its year-to-date high of $0.245 today.
The company will begin trading under the POT stock ticker on Monday, and it's expected the stock will continue to rise.
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