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- Cannabis insiders tell us what Canada's legalization means for publicly traded firms.
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U.S. stock exchanges haven't been willing to list public marijuana businesses, but that's about to change...
Because marijuana is banned under federal law, exchanges didn't want to take the risk of listing "illegal" businesses. But since Canada just fully legalized marijuana today (Oct. 17), the floodgates could open for Canadian cannabis companies to list on U.S. exchanges.
For example, Cronos Group Inc. (NASDAQ: CRON) was listed on the Nasdaq on Feb. 27. Canopy Growth Corp. (NYSE: CGC) began trading on the NYSE on Jan. 12.
And more Canadian cannabis companies listing on the Nasdaq or NYSE will attract more attention and investors' money.
With more demand, marijuana stock prices can skyrocket.
Critical Update: Forget Tech or Crypto - This Will Be the Next $1 Trillion Industry
And to understand the full impact of Canadian marijuana companies listing on U.S. exchanges, I had to talk with cannabis insiders to see just how big this could be...
Listing on U.S. Exchanges Is a Huge Deal for Canadian Cannabis Companies
More Canadian cannabis companies listed on U.S. exchanges in 2018, but there's still some uncertainty as to whether we'll see U.S. cannabis companies listed on major exchanges this year.
Wil Ralston is the president of SinglePoint Inc. (OTCMKTS: SING), a publicly-traded cannabis and technology holding company specializing in acquisitions of small- to mid-sized companies with an emphasis on mobile technologies and emerging markets.
The next marijuana expert I spoke with believes that it still may be some time before we see other Canadian marijuana companies list on the Nasdaq or NYSE.
Lisa Harun is the CMO of Vapium, a Canadian vaporizer company focused on providing durable, portable high-tech devices designed for outdoor use.
Finally, the last expert I spoke with believes we will see more companies apply to be listed on U.S. exchanges, but approval may take some time...
Steve Gormley is the President and CEO of JuJu Royal, a premier cannabis brand created for and inspired by Julian Marley.
I want to thank our experts for sharing their insight.
And as a service to Money Morning readers, I also wanted to share an opportunity for you to secure your seat at the first-ever national event on cannabis...
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