CanaFarma Hemp Products is trading higher on the German Borse catching up with Canada +57% which is one of the reasons companies initiate dual listings. In addition to offering a bunch of new potential shareholders in Canada and Germany, the market makers are kept honest by the global arbitrage that happens as a result.
We spoke to the company in January click here to listen to the podcast with Vitaly Fargesen who was looking for a valuation near $100 million based on the sales of Yoofiric Gum, and the team’s experience.
The companies value today is (based on last sale) is $130 Million so they were not far off in their expectations. They seemed to understand prior to launch how the market is assigning multiples to the industry. But we venture no one would have predicted Cannabis Sector Stock would hold multiples during the Covid-19 environment for public companies.
Remarkably the company is plodding along in one of the worst environments in a century. Pre-launch the company expected to have $100m valuation, and they are currently tracking a bit above, but based on liquidity and market uncertainty they are keeping the course.