Why's that?told me in an interview yesterday."A good portion of that comes from the way our stocks are required to be listed."
US cannabis company can't list on US exchanges because cannabis is federally illegal. Rivers says that without exposure to deeper-pocketed institutional investors on the NYSE or Nasdaq, the story will continue to be the same.because of issues with compliance and finding a custodian. "I think there's certainly going to be a change in that dynamic once uplisting is allowed," Rivers said. Trulieve, like Green Thumb Industries, has already filed with the SEC to prep for an uplisting. The ball is now in Congress's hands to provide clarity as to how they'll treat cannabis. Senate Majority Leaderthat a comprehensive reform bill should land before the end of the month.
The silver lining to all this uncertainty, however, is the opportunity that cannabis executives say will benefit early investors. "There's a generational opportunity for folks to make an investment now and solidify their position because we certainly think larger institutional capital will be coming in as soon as they're able to do so," Rivers said.
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