The stock symbol POT, formerly for the now-defunct Potash Corp. of Saskatchewan, has become available in Canada and interest is so high that it will be awarded via a lottery, according to a Chicago Tribune report.
Potash Corp. merged with Agrium and the companies are now called Nutrien.
The random lottery draw will happen Wednesday, January 30 in Toronto. A spokesperson for a major Toronto exchange declined to release the number of applicants for the lottery.
Several cannabis companies rely on catchy stock tickers in Canada’s stock exchange markets, including WEED which represents the world’s most valuable cannabis company, Canopy Growth Corporation. The symbol MJ is used by the ETFMG Alternative Harvest Exchange-traded fund.
The lottery is open to any interested company listed on any exchange in Canada. This includes the Toronto Stock Exchange (TSX), TSX Venture Exchange, Canadian Securities Exchange, and Aequitas NEO Exchange. Exchange-traded funds and businesses without an active operating business are not allowed to participate in the lottery, however.
Cannabis became legal in Canada last October and has since then experienced successful provincial roll-outs nationwide. While flower products are available for purchase both online and in licensed retail locations, however, regulators are still determining rules for the sale of cannabis vaporizers, concentrates, edibles, topicals, and more.
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