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We've talked about some of the unique challenges facing legitimate U.S.-based cannabis companies – challenges that come from its illegal status at the federal level.
Banking is one challenge; marijuana firms in the states have an incredibly difficult time accessing those services for fear of running afoul of Uncle Sam's money laundering statutes.
Achieving a listing on the Nasdaq or New York Stock Exchange is another problem, and one with even more of an impact on investors. It effectively cuts off the company and its shareholders from the $20 trillion in capital that trades in the "big leagues."
Most American marijuana firms have to offer shares "on the pink sheets," in the smaller, markedly less liquid over-the-counter (OTC) markets.
The other day, I showed you one U.S. cannabis company that took an ingenious "shortcut" route through a wall of red tape to list on the Nasdaq; it's the dawn of what I called a "$20 trillion tomorrow."
That tomorrow may come sooner than anyone realizes – because another American marijuana firm is making a play for its Nasdaq listing.
About the Author
Greg Miller started working on Wall Street in September, 1987, just a month before the “Black Monday” stock market crash.
During his career there, he became an expert in just about every kind of publicly traded security - from blue-chip and small-cap stocks to municipals, junk bonds, and derivatives. As a portfolio manager, Greg was responsible for over $500 million of assets in mutual funds and insurance company accounts.
After leaving the Street, he designed a successful options trading strategy and made lucrative tech investments for a financial publication. He has also helped develop new products and worked with other editors to hone their strategies. He’s always been dedicated to deep, fundamental research - and he always will be - because he believes buying the very best companies at the right price is the best way to amass wealth in the stock market.