Weekend Unlimited scores coveted POT ticker
Weekend Unlimited Inc (CSE:YOLO) has won the proverbial pot of gold: the POT stock ticker symbol.
The POT ticker was allocated in a high-stakes, random lottery held Wednesday by the TMX Group, and Weekend Unlimited announced the news that it was the lucky winner on Friday.
“Weekend Unlimited is thrilled to add the iconic POT trading symbol to its identity,” said Paul Chu, Weekend Unlimited president and CEO, in a release. “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 company said it expects to begin trading with the new symbol POT on Monday, February 4, subject to confirmation by the Canadian Securities Exchange. The company will shed its creative YOLO ticker, an acronym for the fun-loving rally cry “you only live once.”
READ: The lucky winner of the POT stock symbol is …
According to the TMX Group, roughly 40 eligible ballots were submitted to participating exchanges, including the Toronto Stock Exchange, the TSX Venture Exchange, the Canadian Securities Exchange and the Aequitas NEO Exchange.
The Canadian stock ticker symbol POT was previously the symbol for the Potash Corp. of Saskatchewan, which merged with privately held Agrium last year.
“There has been tremendous excitement generated globally for the POT symbol,” said Chu. “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.”
WATCH: Weekend Unlimited expands into Jamaica with 98-acre cannabis farm
According to Catherine Kee, a spokeswoman for TMX Group, which operates the Toronto Stock Exchange and the TSX Venture Exchange, the winner is not allowed to transfer the rights to the symbol to anyone else.
A number of other cannabis companies have catchy stock tickers as well, including 1933 Industries Inc (CSE:TGIF) and Crop Infrastructure (CSE:CROP).
In the US, Tenet Healthcare Corp (NYSE:THC) holds the THC ticker, shorthand for the psychoactive ingredient in marijuana, while POT is unclaimed.
Story by ProactiveInvestors
Source: https://www.proactiveinvestors.com/companies/news/213758/weekend-unlimited-scores-coveted-pot-ticker-213758.html
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