Canadian Firm Becomes First Cannabis Producer to List on Major U.S. Stock Exchange

The Nasdaq listing allows U.S. investors to legally invest in marijuana stocks.

Subscribe
February 27, 2018

Toronto-based Cronos Group is set to be the first marijuana company to list on a major U.S. stock exchange when it begins trading on the tech-heavy Nasdaq composite on Tuesday.

The move is a significant milestone for the company and the broader marijuana sector that has faced resistance from the Trump administration.

RELATED: Canadian Cannabis News

In January, the U.S. Justice Department had repealed an Obama administration policy that eased the enforcement of federal marijuana laws in states that legalized the drug.

Federal law in the U.S. still prohibits marijuana use, despite some states like California moving to legalize it.

"This up listing to Nasdaq is a major corporate milestone and reflects the significant progress we have made in strengthening our corporate governance and expanding our global footprint," said Mike Gorenstein, CEO of Cronos Group in a statement on Monday.

Read more