When a new cannabis penny stocks company begins trading on the TSX Venture Exchange, it’s wise to take a closer look at the stock’s potential.
Especially this close to recreational legalization across Canada.
So today we are checking out Lift & Co. which debuts today and trades under the stock ticker TSXV:LIFT. At the time of writing, the share price is at $0.78.
Cannabis Penny Stocks: Lift & Co.
When you keep an eye on cannabis penny stocks, your attention can be dominated by the myriad of cultivators and distributors calling this market home. The potential of the ancillary businesses can be easily overlooked. Lift & Co. is one such ancillary cannabis company.
From its start as a simple blog in support of Canada’s medical cannabis programme in 2014, the company has grown exponentially. It is now a platform which connects cannabis business to consumers via product reviews, discovery, events, education, and insights. It does this in two main ways: a digital website and its Expos and Cannabis Award functions.
Overall, Lift & Co. can be thought of as an educational tool helping Canadians understand, and make better-informed decisions around, cannabis.
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Lift & Co. Functions
The company’s domain Lift.co has over 1 million users annually, and functions as a database detailing the what’s what and who’s who of cannabis products, company’s and dispensary’s. It generates over 70,000 reviews of legal cannabis products yearly. Consumers rate and write reviews offering consumer-to-consumer opinions and advice on cannabis.
Lift & Co. Expos are Canada’s largest consumer cannabis tradeshows and have attracted visitor numbers of around 20,000.
CEO of Lift & Co. Matei Olaru stated about going public:
“Going public represents new opportunities for Lift & Co. to accelerate the realization of our strategic goals […] We believe that the next wave of investment opportunities in cannabis are emerging in the form of ancillary businesses, like Lift & Co., coming to market to enable the industry’s producers and retailers to better reach consumers and understand market trends.”
Lift & Co. are on the right side of legalization to be considerable cannabis penny stocks for any portfolio. The potential of ancillary business in cannabis is huge.
Featured Image: Depositphotos/© ml12nan
