Canada's coined the name "Land of Opportunity" for its immigration friendly policies and entrepreneurial spirit, and US pot companies are definitely capitalizing on that reputation.
Companies that are operating in states where marijuana is legal, are not able to get listed on US stock exchanges due to the SEC's rules on the types of companies that can be listed. Marijuana is still considered an illegal drug by the US federal government, and therefore companies that deal with it are not allowed to trade on American stock exchanges.
Several companies are jumping ship and getting listed in Canada. Primarily on the two public venture capital exchanges, the TSX Venture Exchange (TSXV) and the Canadian Securities Exchange (CSE).
Green Thumb Industries (GTII) is the most recent converter. Raising $67 million USD in their initial public offering on the Canadian Securities Exchange.
I think this is going to hurt the US cannabis industry long-term, since due to current regulations, companies are moving north, even though their main operations are in the United States.
What can be done here, short of legalizing marijuana entirely, to entice companies to remain in the US?
Aut eum laboriosam qui voluptatem minus. Debitis pariatur dolor earum sunt accusamus nemo.
Laboriosam quidem voluptate iure autem veniam culpa rerum id. Voluptas perspiciatis asperiores accusamus nostrum.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...