Market Movers: Champignon Brands Tags $2; Up Over 35%

This morning Champignon Brands (CSE: SHRM) continued to gain momentum as the stock increased to $2, rising over 35% from yesterday’s close of $1.46. Although there hasn’t been any material news today indicating the reason for the increase, the company has released a series of strong news releases over the last month including:

• The acquisition of AltMed
• Pat McCutheon (CEO of MediPharm Labs) to the Board
• A $10M Bought Deal
• The AltMed Ketamine Treatment to be Dispensed by Major Canadian Pharmacy Chain

The stock has been on a tear since going live in early March, which is now almost a 9 bagger (800% gain) relative to the go-public price .

For those new to the story, the company is research-driven specializing in the formulation of a suite of medicinal mushrooms health products as well as novel ketamine, anaesthetics and adaptogenic delivery platforms for the nutritional, wellness and alternative medicine industries. They are pursuing the development and commercialization of rapid onset treatments capable of improving health outcomes for patients suffering with conditions like depression and PTSD, as well as substance and alcohol use disorders.

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The stock last traded at $1.99 up 53c at the time of publishing.

FULL DISCLOSURE: Champignon Brands is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Champignon Brands on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.