Back in May 2018, Cronos (CRON.Q) became the first cannabis company to be listed on the NASDAQ. In July Tilray (TLRY.Q) also joined as the first cannabis company to do an IPO on the major US exchange. Tilray managed to raise $201.5 million USD on opening day.
Namaste put out a press release in July saying they had filed their NASDAQ application. On today’s Namaste 420 Livestream CEO Sean Dollinger announced that the company had been accepted into NASDAQ’s second tier.
We have edited down a shorter version below of Sean’s announcement:
All of this has to be good news for the sector as a whole as large cannabis companies listing on the NASDAQ helps legitimize the stigmatized product in the United States where it still remains federally illegal.
Floods of new investors have invested in the Canadian market already, but, many feel as though the initial push is over and that they may have missed boat after the December/January craze 6-7 months ago. But, if we look at the US population, (which about is 10X Canada’s) it’s clear that there is still a lot more opportunities for investors to get in relatively early into companies.