Marijuana company financings hit new high in Canada
The U.S. and Canadian equity markets are currently enjoying different types of highs.
In the U.S., the three main stock market indexes are hitting levels not seen before while in Canada it is investors’ interest in medical marijuana stocks that is reaching new heights.
Consider this: Over the past three weeks, six local companies raised $124.5 million of equity capital. To put that number in perspective, $124.5 million makes this the busiest quarter on record and almost six times what was raised in the second quarter.
Another perspective: The financings are more than half the amount marijuana-focused companies have raised in total since the first quarter of last year. That group of companies, has according to information prepared by FP Data Group, raised $206.6 million over the last 20 months, through 13 separate transactions.
The new issue rush hasn’t occurred randomly. The deals have occurred after Ottawa announced steps toward...
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