And a multistate operator like Curaleaf could be a big winner when that happens.
If you want to invest in a multistate cannabis operator, the only way you can do so is by going outside of the major exchanges, where listing rules allow them to trade. Marijuana remains illegal at the federal level in the U.S., which prevents companies like Curaleaf Holdings (OTC:CURLF) and Trulieve Cannabis (OTC:TCNNF) from listing on either the New York Stock Exchange (NYSE) or Nasdaq (NASDAQ). Instead, those companies have to resort to over-the-counter (OTC) exchanges and other less popular markets to raise money. And that can limit the number of investors they reach.
But U.S.-based marijuana companies are hopeful that the day may come soon when they are able to up-list to a major exchange, especially with possible reform coming at the federal level now that a more pot-friendly government is in place. And one cannabis executive believes that day may arrive sooner rather than later.
Here’s when it may happen
In a recent interview with Bloomberg, Curaleaf executive chairman Boris Jordan said the company is often in talks with the Canadian exchanges, and that he is optimistic a change is coming soon across the border. “Something’s gonna happen this year for U.S. cannabis players in terms of uplisting,” he said. However, he also acknowledged it could take until next year before the necessary legislation passes. [Read More @ The Motley Fool]
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