Many industry professionals now promote the term cannabis over traditional slang words like pot, however, it appears the term has not lost that much popularity in the business.
In fact, Canadian stock exchanges have decided to award the rights to use "POT" as a ticker symbol via a lottery system due to such a high level of interest.
After what the exchanges call "significant interest" in using the symbol, the Canadian Securities Exchange, the Toronto Stock Exchange, the TSX Venture Exchange, and the Aequitas Exchange have jointly announced that they will award the right to use the ticker symbol P-O-T via a randomized lottery on Jan. 30.
The symbol was held for years and years by Saskatchewan fertilizer giant PotashCorp., but the company gave up the ticker in a merger early last year. which traded on the TSX.
Under current rules, a ticker symbol must be dormant for a minimum of 53 weeks before it is up for grabs to a new company, and that waiting period just expired.
One of the most popular pot stocks in Canada uses the ticker symbol “WEED”, which belongs to Canopy Growth Corporation.
With files from the Canadian Press.
