As the North American markets are about to open up for trading on Monday, May 6, 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 €7.61 in Frankfurt, equivalent to approximately $8.51 USD or $11.48 CAD. Having previously closed trading in New York at $8.79 USD per share, this morning’s action in Frankfurt is suggesting a bearish start to the day for shares of ACB on the NYSE. Shares of Aurora are also down in U.S. pre-market trading, having last traded at $8.57 USD per share. This morning, Aurora announced that it will report its financial results for the third quarter after the close of markets on Tuesday, May 14th, 2019.
Shares of RavenQuest BioMed Inc. (FRA:1IT) last traded at €0.49 in Frankfurt, equivalent to approximately $0.55 USD or $0.74 CAD. Having previously closed trading in Canada at $0.69 CAD per share, this morning’s action in Frankfurt is suggesting a bullish start to the day for shares of RVVQF on the OTC markets. This morning’s bullish action in shares of RavenQuest is presumably due to the company’s announcement that it has secured a Health Canada sales license at the company’s Markham facility, also known as “Bloomera Inc.,” which allows RavenQuest to commence sales of both medical and recreational cannabis nationwide.
Shares of Zynerba Pharmaceuticals Inc. (FRA:6ZY) last traded at €10.04 in Frankfurt, equivalent to approximately $11.23 USD or $15.14 CAD. Having previously closed trading in New York at $11.45 USD per share, this morning’s action in Frankfurt is suggesting a bearish start to the day for shares of ZYNE on the NASDAQ. Meanwhile, in the NASDAQ pre-market session, shares of ZYNE are trading up at $12.20 USD per share on news that the U.S. Food and Drug Administration granted Fast Track Designation for the company’s lead development candidate Zygel™ (ZYN002 CBD gel) for treatment of behavioral symptoms associated with Fragile X Syndrome.
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.
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