Tweed Marijuana Inc. is setting up as a win for its early backers, with shares of the company opening their first day of trading far higher than expected.
Shares of Tweed began trading at $4.60 on the TSX Venture exchange, before falling back to the $2.60 range. Either way, that’s a big jump.
Tweed executive chairman Bruce Linton told the Huffington Post that he thought the shares would open around 85 cents a piece. The last private financing round was done at just a month ago at the equivalent of 89 cents a share. GMP Securities, which is Tweed's main advisor, arranged that round as well as earlier ones.