Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Which Canadian Company Will Get Coveted Cannabis-Themed ‘POT’ Ticker on the TSX?

Published 2019-02-01, 08:09 a/m
Updated 2023-07-09, 06:32 a/m

Stock market watchers could find out as early as today what company has won the lottery for the much sought-after POT stock ticker symbol on the Toronto Stock Exchange.

For the first time in its history, the TMX Group, the company that operates the TSX, Canada’s main stock exchange, held a lottery to reassign the ticker symbol. But the stock exchange operator has not publicly disclosed the winner. Yet.

The symbol became available after the fertilizer company Potash Corp. merged with Agrium Inc. in early 2018, forming Nutrien Ltd (TO:NTR)., which now trades under ‘NTR.’ According to regular practice, there is a one-year waiting period before ticker symbols are reassigned. And it is usually done on a first-come, first-served basis. But, perhaps as a measure of the frenzied investor interest in Canada’s burgeoning marijuana industry, companies were scrambling to claim the marijuana-themed symbol. A total of 40 companies participated in the draw.

The winner of the lottery can officially start using the symbol today, but has up to 90 days to change its existing ticker symbol to POT. If the winner does not use the ticker symbol within that period, another lottery will be held, the exchange operator said in a statement. Only listed companies and companies looking to list were eligible to participate in the process.

What is the value of having what some describe as a “vanity” ticker?

That question is still unanswered. But the issue is drawing attention.

The winner is prohibited from selling the symbol. But if the winning company is sold, the symbol would be part of the transaction.

In 2017, Canadian-based marijuana company Canopy Growth Corp (TO:WEED). secured the ticker symbol ‘WEED.’ But back then, the symbol was obtained the old-fashioned way – simply by asking for it.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.