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Home / Business / Cronos, a marijuana producer, starts trading on the Nasdaq

Cronos, a marijuana producer, starts trading on the Nasdaq

By Aaron Smith

Cronos is the first pot producer and seller to trade on Wall Street, though other companies with indirect relations to cannabis are trading.

“We’re the only pure play marijuana company” to be traded on a U.S. exchange, Cronos CEO Mike Gorenstein told CNN.

Analysts called the development a milestone for both Toronto-based Cronos and the entire cannabis industry.

“We imagine the SEC would have gone through a very thorough review/vetting process before allowing a cannabis company to list on a major U.S. exchange,” Vahan Ajamian, an analyst for Beacon Securities, wrote in a note to investors.

Read more at CNN Money

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