Canafarma (CNFA.c) listed its stock today on the Canadian Securities Exchange in Canada. As a new listing, demand seems to be high for the company coming out with a share price of .50 per share. This is slightly under the current valuation of the company.
This opening price offers value to investors, especially in this coronacrash environment of market volatility. In determining the opening share price, the company, moments ago stated to Market News First, “In this market we hoped to open at a very conservative level. At this level we believe there is great institutional value and while market forces determine our share price, we are happy with the opening price.”
The company is paying attention to institutional needs and it is reflected by the strength of market makers coming into the stock. Clearly a sincere level of respect by MM’s in the security, with trading already up from the opening level. To be clear, this is a new listing on the CSE, so at writing market makers and online trade platforms are just now getting into CNFA stock. Currently, Canaccord Capital Corporation and RBC are on the box with Canaccord enjoying the inside market for a moment. First come first serve is often the way and Canaccord Capital hasn’t missed this opportunity. Additional market makers are jumping in quickly, however, such as Haywood Securities Inc., JP Morgan Securities and BMO Nesbitt Burns. Already there seems to be some jockeying for the box faster than the news can go out.
As the market has proven, this can change in miliseconds and as the online trade outlets open their systems to retail, the value in CNFA will be sought. Canafarma is focused and organized with a trajectory of cannabis, hemp cbd market domination and their path is selected in products that offer least resistance. Coupled with their direct-to-consumer sales and delivery platform, they are on pace to deliver valuation changes that might require a computer to keep up with as fast as the markets.
In anticipation of their product supply to keep up with demand, the company just announced a new farm to add to the supply side of raw materials in preparation of projected sales. However, they keep exceeding projected sales as conservatively disclosed to the market. The acquisition of the 100 acre hemp farm provides security in product fulfillment and quality control, which is what Canafarma has built their reputation on so quickly.
Stay tuned to Market News First for Canafarma (CNFA.c) market updates that matter.