Body and Mind Inc (OTCMKTS:BMMJ) Stock Surges 15%: But Why?

Operations focussed cannabis company Body and Mind Inc (OTCMKTS:BMMJ) with operations across multiple states is one of the companies which investors could look into today if they are hunting for cannabis stocks. Yesterday, the company was in the news after it announced the grand opening of its Body and Mind dispensary in Markham, Illinois.

Trading Data     

On Thursday, BMMJ jumped 15.57% to $0.0560 with more than 11.91K shares, compared to volume of 61.89K shares. The stock moved within a range of $0.0481 – 0.0660 after opening trade at $0.0660.

The dispensary is located conveniently at the intersection of three busy highways and every day an average of 400000 vehicles are going to pass within a mile of it. It was further noted that Body and Mind was going to celebrate the launch of the store with a grand opening ceremony over the Memorial Day weekend. At the opening, it would offer military discounts specifically to honour the veterans and current service members. There are going to be many other promotional sales offers in place on the same day. The event, which would take place on May 27, would also offer live entertainment, local brands representation, free merchandise, food trucks and a ribbon cutting ceremony by state and local politicians at 11 in the morning. The dispensary would offer a wide variety of products from brands like Savvy, Daze Off, High Supply, UpNorth and PTS among others

Ian Leigh

Ian Leigh is a specialist in analyzing stocks, SEC and OTC filings, and financials of public and privately-held companies. He has played a significant role in M&A activity, consulting with publicly-held firms on acquisitions and divestitures. He also consults on valuations and branding. He lectures at major universities and teaches at specialty financial schools.