Vancouver-based online pharmacy, Mednow, is publicly trading on the TSX Venture Exchange (TSXV) under the ticker symbol “MNOW.” Here’s how Canadian investors can buy in.
How to buy Mednow stock
You’ll need a brokerage account to invest in Mednow. Here’s how it works:
Compare stock trading platforms. If you’re a beginner, look for a platform with low commissions, expert ratings and investment tools to track your portfolio. Narrow down top brands with our comparison table.
Open and fund your brokerage account. Complete an application with your personal and financial details, like your ID and bank information. Fund your account with a bank transfer, credit card or debit card.
Search for Mednow Inc. Find the stock by name or ticker symbol: MNOW. Research its history to confirm it’s a solid investment against your financial goals.
Purchase now or later. Buy immediately with a market order or use a limit order to delay your purchase until Mednow reaches your desired price. To spread out your purchase, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
Decide on how many to buy. Weigh your budget against a diversified portfolio that can minimize risk through the market’s ups and downs. You may be able to buy a fractional share of Mednow Inc., depending on your broker.
Check in on your investment. Optimize your portfolio by tracking how your stock — and the business as a whole — performs in the long term. You may be eligible for dividends and shareholder voting rights on directors and management decisions that can affect your stock.
About Mednow Inc.
Founded/Headquartered
2018, Vancouver
Type of business
Telemedicine. Provides virtual pharmaceutical and healthcare services in Ontario and BC. Licensed doctors are available to consult with patients and provide prescriptions, lab work requisitions and specialist referrals if necessary. Prescriptions are handled (dispensed, refilled etc.) by licensed pharmacists. Free medication delivery is available, including same day delivery in the Greater Toronto and Greater Vancouver Areas. Mednow also offers medication management solutions for patients including labelled PillSmart packets and Karie, an automated pill dispenser and medication scheduling/reordering system.
Financial info
Raised $5,440 from financing activities in 2018
Raised $127,199 from financing activities in 2019
Raised $5,787,350 from financing activities in 2020
IPO information
Went public on the TSXV on March 9, 2021 under the ticker symbol MNOW
Sold 5,492,325 stocks for $6.75 each. Raised a total of $37 million from its IPO (slightly higher than anticipated, according to the company’s prospectus).
To buy stocks, you’ll need to open a brokerage account. Compare your options using the table below to find the best fit for you. Take a look at our guide on opening a stock trading account to learn more.
Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades. Read the Product Disclosure Statement (PDS) and Target Market Determination (TMD) for the product on the provider's website.
Dawn Daniels is a freelance content strategist and SEO manager and former editor at Finder, specializing in investments and lending. Dawn has edited more than 50 published books, including personal finance titles that have become best sellers on the Amazon Top 100. She holds a BA in English language and literature from Cornell College.
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