The Target Group Inc (OTCMKTS:CBDY) emerged as one of the notable gainers yesterday and managed to delivery gains of as much as 30% even though there was no specific news about the company.
However, it might be useful to take a look at an announcement from Target earlier on in the month. Back on June 3, the company announced that its fully owned subsidiary company Canary RX Inc signed an agreement with Thrive Cannabis Inc in relation to a joint venture.
The joint venture partnership is going to be based out of Norfolk County and it is going to be engaged in the production of premium craft cannabis. The agreement is going to last for a total of five years and Target is going to have a 50% ownership stake in it. Thrive is going to make use of the growing rooms that are in Canary RX’s control. On the other hand, Thrive will also manage the stuff with regards to the unique methods of production.
On Wednesday, CBDY stock closed higher by 30% to $0.0195 with more than 3.29 million shares, compared to its average volume of 703k shares. The stock has moved within a range of $0.0169 – 0.0250 after opening the trade at $0.0170.