Numerous companies have disclosed acquisitions today. This, to no surprise, has sent the stock prices of these companies soaring. However, there is one company, in particular, that is making serious waves in the market after publishing an update on its latest acquisition. That company is Friday Night Inc. (CSE:TGIF), a Canadian cannabis-focused company.
Friday Night Inc. Provides Acquisition Update
On Thursday, Friday Night Inc. provided the public with an update on its latest acquisition of Spire Secure Logistics and Canada. After the news broke, Friday Night Inc. saw its stock jump more than 10%. For those wondering, no, it wasn’t solely the news of the acquisition that caused the stock to increase. In fact, the public was made aware of the acquisition back in February. Friday Night reportedly closed the deal in March.
For those who don’t know, Friday Night Inc. is a Canadian company known primarily for its involvement in the output and distribution of both medical and recreational cannabis in the U.S. Further, Friday Night Inc. has dipped its toes in the healthcare sector, working heavily with the commercialization of imaging tools for stroke patients.
As for the update, Friday Night Inc. disclosed that it is in the midst of developing secure and complaint strategies in preparation for Canadian provinces and cities to implement the distribution and sales of legal cannabis.
Not only did Friday Night provide an update on the acquisition, but the cannabis-focused company also disclosed that it will be working with Grizzly Griptape, a skateboarding legend, on a new cannabis-infused recovery cream. On top of those two announcements, Nevada-based Friday Night Inc. also disclosed today that it has appointed Kevin Mead as its new chief administrative officer.
The Takeaway
Overall, Thursday has been a jam-packed day for Friday Night Inc. Not in a bad way, though, as everything that happened today occurred in a positive manner. Currently, Friday Night Inc. is trading at $0.54. This puts the TGIF stock up 11.34%.
After a day like today, I wouldn’t be surprised to hear Friday Night’s management team yelling ‘Thank God it’s Friday’ from the rooftops tomorrow! Would you?
Featured Image: Twitter
