Canadian Marijuana Company 1st Ever to Be Listed on NASDAQ

Canadian Marijuana Company 1st Ever to Be Listed on NASDAQ

Canadian Marijuana Company 1st Ever to Be Listed on NASDAQ

$CRON

A Canadian cannabis producer will begin trading on the NASDAQ Tuesday, thus becoming the 1st marijuana company to be listed on a US stock exchange.

Toronto-based Cronos Group won approval for the listing from the Securities and Exchange Commission (SEC).

“It’s very significant for the company and the whole industry,” Mike Gorenstein, Cronos Founder/CEO, said. “It’s a huge moment — just shows the stigma is continuing to erode on cannabis.”

Cannabis is federally illegal in the United States. But because Mr. Cronos is a licensed Canadian business producing cannabie for the soon-to-be legal recreational market in Canada, the company is technically not precluded from trading on US stock exchanges.

Recreational marijuana is legal in 9 US states and Washington DC, but medical marijuana is legal in 29 states, making the American market for cannabis worth over $6-B, according to investment bank Cowen & Co.

It’s also building a growing facility in partnership with a kibbutz in Israel, and has received a license through a joint venture in Australia.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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