Shareholder approval of an investment by Aurora Cannabis gave a hemp stock a big boost Friday. Here’s some small stocks making big moves on Friday, November 10, 2017 (as of 4 pm EST):
Hempco Food and Fiber Inc. (TSXV:HEMP), a hemp stock, surged 37% to $1.30 on Friday after the Company’s shareholders approved an investment in Hempco by Aurora Cannabis Inc. (TSX:ACB) that could result in the cannabis giant taking a more than 50% stake in Hempco, a provider of premier hemp seed foods.
As well, shares of Pengrowth Energy Corporation (TSX:PGF) slipped 13% to $1.27 as the oil and gas producer said its third-quarter average daily production fell to 35,072 boe per day, from 55,137 boe per day during the same period last year, which the Company attributed to the absence of volumes related to sold properties, natural declines, as well as lower volumes due to planned maintenance activities on existing properties.
Aimia Inc. (TSX:AIM), meanwhile, reported that its transition into a two-division structure is expected to save the Company $9 million in 2017, ramping to an annualized 2019 run rate of $70 million. Aimia stock moved up 15% to $3.21 following the announcement.
Disclosure: Neither the author nor any of the principals at SmallCapPower, or their family members, own shares in any of the companies mentioned above.
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Hempco Food and Fiber Inc. (TSXV:HEMP), a hemp stock, surged 37% to $1.30 on Friday after the Company’s shareholders approved an investment in Hempco by Aurora Cannabis Inc. (TSX:ACB) that could result in the cannabis giant taking a more than 50% stake in Hempco, a provider of premier hemp seed foods.