Canadian marijuana company becomes first to be quoted on NASDAQ

By Elliot Bullman

The company makes its way into the stock market; estimate that by 2026 the cannabis industry will be worth 50 billion dollars.

Everyone knew that it was a profitable business, the question is whether it was safe to invest; the Canadian company Cronos Group has become the first pure marijuana producer listed on the Nasdaq stock exchange.

1

Other companies that work with the substance such as GW Pharmaceutical were already in the market, but were not uniquely dedicated to this industry.

While Cronos Group already had at least three years on the Toronto stock exchange, the jump to the Nasdaq, where Apple, Microsoft or Starbucks are, gives them an opportunity to enter a market with greater liquidity, grow more and be recognizable to new investors.

2

The stock market valuation of the company dedicated to marijuana is estimated at $ 1.530 billion dollars, its debut during the stock market’s volatility marked the course with a fall of two percent and a close of 20 percent growth.

3

Cronos Group CEO Mike Gorestein mentioned that the acceptance in Nasdaq demonstrates that the prejudices about marijuana are disappearing. Analysts at investment bank Cowen & Co estimate that the cannabis market will move up to 50 billion dollars in 2026.

RELATED NEWS

  • Trump backs down and signs executive order to Trump backs down and signs executive order to 'keep families together'
  • Despite uncertainty about the election, Mexico continues to attract investmentsDespite uncertainty about the election, Mexico continues to attract investments
  • On Saturday, repaving works start in Cancun’s hotel zoneOn Saturday, repaving works start in Cancun’s hotel zone
  • Mexican entrepreneurship project receives award in FranceMexican entrepreneurship project receives award in France
  • MexicoMexico's foreign minister and business leaders express outrage over ‘inhumane’ US immigration policy
  • The Dow Jones industrial average turned negative as global trade war fears mountThe Dow Jones industrial average turned negative as global trade war fears mount
  • Canada legalizes recreational cannabis useCanada legalizes recreational cannabis use
  • EU to retaliate against US with counter-tariffs on FridayEU to retaliate against US with counter-tariffs on Friday
  • Mexican national team football shirt is best  seller in the United StatesMexican national team football shirt is best seller in the United States
  • Scorpion catching is a dangerous trade that allows Durango’s locals to survive.Scorpion catching is a dangerous trade that allows Durango’s locals to survive.
  • Rafael Márquez , is only the third player in history to achieve the feat of playing in 5 world cupsRafael Márquez , is only the third player in history to achieve the feat of playing in 5 world cups
  • It’s not just in football that Mexico is superior to GermanyIt’s not just in football that Mexico is superior to Germany
WATCH LIVE TV



Most Read Articles
Most Watched Videos
  • Generations Riviera Maya
  • Mayair

Language

Mexico News Network
All rights Reserved 2018