Cannabis shares Cellular Goods PLC and Kanabo Group PLC continued to show more than mere green shoots of growth for shareholders, rising more than 6% and 1.5% respectively.
Fastforward Innovations Ltd, a backer in the fervent floats of both shares in recent weeks, this morning revealed quickfire returns on investment.
The investment group realised gains of 315% and 223% respectively as it sold its entire shareholdings – having previously been disappointed by smaller than hoped for holdings in both, as the IPO’s of each were significantly oversubscribed.
Following a stellar start to publicly traded life for both, FFWD’s share sales provide a £194,414 gross profit on funds committed in late February and early March.
It comes on the back of FFWD’s record £1.9mln investment profit, announced on Wednesday, as it agreed to sell out of another cannabis play under the influence of regulatory factors – created by looming acquisition of the investee by a North American group with interest that include recreational cannabis products.