Cannabis is already on the New York Stock Exchange

Cannabis is already on the New York Stock Exchange

Nasdaq has one more listed company. Cronos Group is the only one in the cannabis business and part of the American stock exchange.

In the United States, there are nine states in which recreational use is permitted and another 29 that authorize medical use. Experts estimate that there will be profits of $ 50 billion by 2026, up from $ 6 billion by 2016.

For Cronos founder and CEO, the company’s presence on Nasdaq is an opportunity to clarify the questions that revolve around this type of investment, “Many investors in the US are still not sure about the legality. The Nasdaq listing will open the range of opportunities for many US investors who felt insecure, “said Mike Gorenstein.

Cannabis remains illegal under the US federal constitution, but Donald Trump’s government measures do not prevent US investors from injecting money into foreign companies that legally operate on US soil.

Eyinmisan Ajuwaghan

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