Loblaws’ (L.T) big ass 1300-store pharmacy chain, Shoppers Drug Mart, announced this morning they’re now offering same day delivery of medical cannabis products in the Greater Toronto Area. Delivery will be free for orders over $100, which is most orders.
The Medical Cannabis by Shoppers team is pleased to announce the launch of same-day delivery for medical cannabis patients in cities in and around the Greater Toronto Area (GTA) […] The service provides patients convenient access to a broad range of products through a single source, alongside expert advice and counsel from trusted healthcare professionals. The launch of same-day delivery in the GTA will help ensure that medical cannabis patients have continuous access to the treatment they need.
That’s pretty incredible news. Even more incredible is who Shoppers is using to make that plan happen.
Medical Cannabis by Shoppers has partnered with Pineapple Express Delivery, a leading logistics technology company offering specialized delivery services for the legal cannabis industry.
Pineapple Express is a subsidiary and recent acquisition of World Class Extractions (PUMP.C), which has been transitioning from an earlier plan to partner with multiple companies on extraction facilities, and has shifted more towards taking a piece of everyone’s deal via delivery.
As things stand, enough folks have been waiting for positive news to land so they can get out of their PUMP positions that this particular news hasn’t shifted the stock price upwards, at least in early trading. With 13 million shares traded so far, good for $500,000 in volume, the stock continues to stand put at $0.035.
Those walls though pic.twitter.com/VjT6hr5C83
— FEDPUMP🌬💨BrianOTC💯 (@BaystreetBrian) June 16, 2020
This isn’t a new scenario; PUMP has landed several good news hits in the last month, often churning out long time holders with new enthusiasts and seeing no financial gain in the process. That said, with the stock having sat at $0.02 at the beginning of June, today’s $0.035 marks a near double for those coming in recent.
When those sell walls start shifting, we may see a run in this stock, based on the tiny $21 million market cap.
Personally, I find it interesting that this news was blasted out by Shoppers themselves BEFORE World Class had a chance to put out its own hurried release. This shows the enthusiasm the bigger company has for the deal, and is a real shot in the arm for WCE’s credibility.
We’ve been saying for some time now that investors should stop judging PUMP by it’s ticker symbol and the way its former management team entered the market, and more on the plans being enacted now. It appears more and more people are agreeing.
Side note: On the topic of that ticker symbol, we asked Twitter’s #fintwit community what PUMP management should do with the ticker.
— 🆒 Chris Parry ™ (@ChrisParry) June 11, 2020
— Chris Parry
FULL DISCLOSURE: World Class Extractions is an Equity.Guru marketing client, and we’re taking a position at these prices.