Nutrien’s debut on the TSX means one of the potentially most coveted ticker symbols on Bay Street is back up for grabs.
Potash Corporation of Saskatchewan’s former ticker symbol – POT.TO – could eventually be reallocated to another company, which could be of great interest to several players in Canada’s burgeoning recreational cannabis market.
BNN reached out to the Toronto Stock Exchange after Nutrien (NTR.TO) began trading on Tuesday and was told that there is a 53-week waiting period before an applicant can inherit a discontinued symbol.
TSX spokesperson Catherine Kee also noted that under the exchange’s rules new issuers are assigned a symbol based on the company’s name.
Several Canadian marijuana companies have chosen ticker symbols more emblematic of their products. MedReleaf trades under the four-character ticker LEAF.TO, while Newstrike Industries trades under HIP on the TSX Venture exchange, in a nod to its partnership with Canadian rock icons The Tragically Hip.
Canopy Growth, which initially traded as CGC on the Venture exchange, changed its symbol to WEED.TO in January, 2017.
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