After weeks of guessing who would finally get to trade stock as the one and only POT company, the wait is now over and Weekend Unlimited will begin trading under the symbol starting Monday, February 4.
When pot stock mania set in after the Cannabis Act legalized marijuana nationwide, companies of all sizes tried to switch their ticker symbol to the highly sought-after POT designation, including a host of organizations based out of the U.S.
Due to the huge influx of requests to use that symbol, a lottery was held by the Canadian Securities Exchange, Aequitas NEO Exchange, and Toronto Stock Exchange to assign the ticker symbol randomly.
Much like the lottery for the first retail storefronts in Ontario, thousands of companies applied and a relatively unknown entity managed to actually land the winning slot, edging out much more established competitors.
Formerly trading under the symbol YOLO (slang for You Only Live Once), Weekend Unlimited aggregates brands such as Canna Candies, Orchard Heights Growers, and the non-cannabis focused Verve Energy Drink.
Stating the new symbol will raise the company’s profile in Canadian trading, Chief Executive Officer Paul Chu commented:
The symbol was previously used by Potash Corp – a company unrelated the marijuana industry – but it came up for grabs after Potash merged with Alberta-based company Agrium last year.
Other associated marijuana culture symbols are expected to be snapped up shortly, with several obvious names already spoken for, such as WEED being used by Canopy Growth Corporation.
With its new ticker symbol in place, Weekend Unlimited is currently expanding operations into Washington state through subsidiary Weekend Unlimited Washington LLC.
Earlier this week, the company signed a letter of intent to form a strategic partnership with privately held Washington-based company Boggy Boon to expand cultivation and distribution outlets.