I love it when a plan comes together.
Canada’s first cannabis security pubco certainly fits into that description, as 3 Sixty Secure Corp (SAFE.C) has gone on a run on the second day of its market existence.
The company’s stock ran 54.9% up today, a $0.28 jump from it’s $0.51 opening day close.
SAFE’s first day of trading was punctuated by high volatility and large trading volume, with over 2.5m shares changing hands.
That was a trend repeated to a lesser extent on day two, but with far more buying than selling, but for a little profit taking late in the day, right before a final buying spike ran it over its high.
The company boasts a significant customer base, including some of Canada’s biggest licensed producers:
Operationally, the company is pleased to report that its two major business segments experienced meaningful growth in the three months ended Nov. 30, 2018:
- 3 Sixty exited August, 2018, with more than 40 secure transport and guarding customers and more than 400 security consulting clients.
- On a percentage basis, guarding and secure transport customers experienced the highest growth, up approximately 65 per cent following the addition of 27 new customers.
- On an absolute basis, security consulting experienced the largest uptick in clients with the addition of 82, up approximately 20 per cent in the period.
3 Sixty also converted five security clients from Total Cannabis Security Solutions, one of the companies involved in it’s go public transaction, and has added David Hyde, founder of David Hyde & Associates, Canada’s leading cannabis consulting firm, as President.
At present time, they’re transporting approximately $250m in product every month, with over 60 LPs as clients.
For more information about SAFE, see our story lining up their opening day.
— Chris Parry
FULL DISCLOSURE: 3 Sixty is an Equity.Guru marketing client