|Bid||7.85 x 1100|
|Ask||7.93 x 1000|
|Day's Range||7.69 - 7.93|
|52 Week Range||2.55 - 14.63|
|Beta (5Y Monthly)||1.55|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Shares in cannabis skin care company Cellular Goods, which is backed by retired soccer star David Beckham, soared more than fourfold as it started trading on the London Stock Exchange on Friday, after raising £13 million ($18.4 million) in an initial public offering. The stock spiked 310% to 20.50 pence at the market open in London, up from its IPO price of 5 pence, which had valued the company at more than £25 million. Cellular Goods plans to make skin care and athletic recovery products from biosynthetic cannabinoids, which are made through a fermentation process in laboratories rather than field grown.
Shares in Kanabo Group more than doubled in value on Tuesday, after the maker of vaporization and inhalation technology for cannabis made its stock market debut in London, highlighting investor appetite for exposure to the fast-growing sector. Tel-Aviv-based Kanebo is going public via a merger with special-purpose acquisition corporation Spinnaker Opportunities Plc. SPACs, or blank-check companies, raise money in an initial public offering and then have about two years to acquire a business or businesses. Kanabo raised £6 million ($8.3 million) in cash from a share sale at 6.5 pence per share linked with the deal.
Just because a business does not make any money, does not mean that the stock will go down. For example, although...