Nasdaq’s First Cannabis Company Listing

By Cara Anderson

IG: @carajojo

On February 27, 2018, Nasdaq will list their first cannabis company. Cronos Group, a licensed cannabis producer based in Toronto, will begin trading under the symbol “CRON.”

“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. “We believe this will increase long term shareholder value by improving awareness, liquidity, and appeal to institutional investors.”

Cronos Group produces and sells medical marijuana in Canada, where MMJ has been federally legal since 2001. Cronos Group ships buds to Germany for distribution there. Their international production and distribution sectors include Cronos Israel and Cronos Australia. Cronos Group hopes to expand to the United States when federal legalization takes effect

Mike Gorenstein, Cronos Group founder and CEO

As cannabis is still federally illegal, Cronos founder Mike Gorenstein said that many people are confused about the legality of investing in a cannabis business.

“A lot of U.S. investors still are unsure about the legality: There’s not a lot of awareness about the fact that it’s federally legal in Canada versus the U.S.” – Gorenstein told Bloomberg

Investing in international companies that operate legally under their federal government is legal.

“Our goal is to establish the most valuable international cannabis community comprised of passionate, daring people, driven by quality and integrity, who are determined to write history, not read about it.” Cronos Group