Article by Bloomberg News,
The stock symbol POT is up for grabs on Canadian exchanges and demand is so high that they’re holding a lottery for the first time ever to determine who gets it.
POT, previously the ticker for Potash Corp. of Saskatchewan before it merged with Agrium Inc. to form Nutrien Ltd., becomes available for use on Friday. Not surprisingly, the cannabis-themed symbol has attracted “significant interest,” according to a staff notice published by the Toronto Stock Exchange.
Applications from companies are due by 5 p.m. Tuesday in Toronto, and a random lottery will be held Wednesday to determine the winner. TMX Group spokeswoman Catherine Kee declined to comment on how many applications it’s gotten, or how many of the interested companies are related to the fast-growing cannabis sector. The winner may remain a mystery until it begins trading under the new ticker, as the exchanges keep symbol reservations confidential, Kee said.