December 6, 2013. That day, shares of Tweed soared 183 per cent at 2:07 pm from its issued price on March 7 of 89 cents to $2.52. It had actually gone down from the opening price of $5.10 but is still the third-most traded issued in Canada as 9.64 million shares were either sold or bought.
Over the weekend, the Smith Falls, Ontario-based company disclosed that it purchased over 60 new strains of medical marijuana seeds and plants from licensed growers. The firm’s current market value is $89 million.
Tweed will sell 25 strains to Canadian patients for $5-$12 per gramme, shipping included. Minimum order is 1 gramme, and delivery is via bonded courier.
Health Canada estimates that within the next decade, the medical pot market could grow to $1.3 billion.
In the U.S., medical marijuana shares have ballooned at even higher rates. For 2014, shares of Tranzbyte Corp, which sells cannabis in Colorado following the drug’s legalization, soared 2,352 per cent.