You only live once, so you might as well snag the ultimate stock ticker symbol for a cannabis company — “POT.”
Canadian cannabis company Weekend Unlimited, currently trading under the stock ticker symbol “YOLO” on the Canadian Stock Exchange, announced that it’s the winner in the lottery for the ticker POT.
“Weekend Unlimited (YOLO) is thrilled to add the iconic POT trading symbol to its identity,” CEO Paul Chu said in a statement. “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.”
Demand for "POT" was so high given the cannabis craze that the Canadian Securities Exchange held its first-ever "random lottery" on Wednesday to determine which company can use it.
The symbol is non-transferrable, and only the winner will be permitted to use it, according the bulletin posted earlier this month.
“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,” Chu said in a statement.
Weekend Unlimited, a company that “aggregates and scales small to medium brands, primarily in the categories of flower, extracts and edibles” and has a $28.63 million market cap, will trade under the new POT symbol on Monday after getting confirmation by the CSE.
POT previously belonged to Saskatchewan-based fertilizer company Potash Corp, which merged with Agrium last year to form a new company called Nutrien (NTR).
Julia La Roche is a finance reporter at Yahoo Finance. Follow her on Twitter.
