Canada Markets open in 31 mins
  • S&P/TSX

    21,188.19
    +101.19 (+0.48%)
     
  • S&P 500

    4,536.19
    +16.56 (+0.37%)
     
  • DOW

    35,609.34
    +152.04 (+0.43%)
     
  • CAD/USD

    0.8112
    -0.0009 (-0.1063%)
     
  • BTC-CAD

    80,016.90
    +188.12 (+0.24%)
     
  • CMC Crypto 200

    1,534.81
    +54.01 (+3.65%)
     
  • GOLD FUTURES

    1,784.60
    -0.30 (-0.02%)
     
  • RUSSELL 2000

    2,289.77
    +13.86 (+0.61%)
     
  • 10-Yr Bond

    1.6550
    +0.0190 (+1.16%)
     
  • VOLATILITY

    15.79
    +0.09 (+0.57%)
     
  • FTSE

    7,194.87
    -28.23 (-0.39%)
     
  • NIKKEI 225

    28,708.58
    -546.97 (-1.87%)
     
  • CAD/EUR

    0.6962
    -0.0003 (-0.04%)
     

ETF Inclusion Sends Psychedelic Stock Soaring

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

There are a few different events that can take place that naturally create buying pressure for a stock. One initial catalyst is when a stock is included in an ETF. By nature, the ETF will have to purchase initial shares in the company in order to create baskets with the shares within them to sell to investors, and that’s exactly what happened this morning. Revive Therapeutics Ltd (CSE:RVV) saw its shares rally after it was announced that it will be included in AdvisorShares® Newly Launched Psychedelics ETF.

Revive Therapeutics Ltd is focused on the research, development, and commercialization of novel psychedelic and cannabinoid-based life sciences products and drug repurposing for infectious diseases. The firm's technology is being developed to fill the medical needs for diseases and disorders such as pain, inflammation, and wound care.

Read:

Traders were bullish on the news as shares popped up to an early session high of $0.475/share (+10.47%) following the announcement. This move could be an indication of things to come as this small cap attempts to break out of its multi-month trading range.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting