As the North American markets are about to open up for trading on Friday, April 26th, 2019, there’s 3 cannabis-related stocks that are already on the move in Frankfurt.
Why Watch the Frankfurt Markets?
While the opening bells have yet to ring in the United States and Canada, many of the largest and most popular cannabis stocks on the NYSE, NASDAQ, and TSX have already begun trading under their Frankfurt listings in the European session since Germany is hours ahead of New York and Toronto.
Today’s Frankfurt Market Movers
In the Frankfurt trading session, there are three major movers worth watching as markets open up in North America.
Shares of Aurora Cannabis Inc. (FRA:21P) last traded at €8.18 in Frankfurt, equivalent to approximately $9.12 USD or $12.28 CAD. Having previously closed trading in New York at $9.07 USD per share, this morning’s action in Frankfurt is suggesting a bullish start to the day for shares of ACB on the NYSE. This morning, Aurora announced an exclusive licensing deal for EnWave’s patented Radiant Energy Vacuum drying technology for the production of cannabis materials in the European Union, excluding Portugal. Aurora also secured exclusive license options for both Australia and South America, excluding Peru, exercisable pursuant to minimum REV™ machine purchase order requirements. Additionally, Aurora has signed a non-exclusive sub-license to use REV™ technology in Canada.
Shares of EnWave Corp. (FRA:E4U) last traded at €1.32 in Frankfurt, equivalent to approximately $1.47 USD or $1.98 CAD. Having previously closed trading on the OTC markets at $1.41 USD per share, this morning’s action in Frankfurt is suggesting a bullish start to the day for shares of NWVCF. In addition to the licensing agreement with Aurora Cannabis mentioned above, Aurora bought $10 million CAD worth of shares of EnWave.
Shares of Tilray, Inc. (FRA:2HQ) last traded at €46.25 in Frankfurt, equivalent to approximately $51.55 USD or $69.41 CAD. Having previously closed trading in New York at $51.27 USD per share, this morning’s action in Frankfurt is suggesting a bullish start to the day for shares of TLRY on the NASDAQ. On May 14th, TIlray is expected to report results for the first quarter ended March 31st, 2019 after market close.
As markets are about to open up for trading in the U.S. and Canada, remember to always do your own due diligence and consult your professional financial advisor, as this article is not a recommendation to buy or sell any of the securities mentioned.
Get Real-Time Updates from MJobserver.com