Cronos Group will become the very first marijuana company to trade on a major US stock exchange.
The company owns and operates businesses that are licensed to grow and sell weed in Canada, where medical marijuana is completely legal.
According to Cronos Group’s CEO Mike Gorenstein, the listing could show governments and investors that the legal marijuana industry has arrived.
Cronos Group, a huge Canadian company that’s like Proctor & Gamble for marijuana products, has received approval from the Securities and Exchange Commission to start trading on the Nasdaq.
The Company is based on Toronto and plans to list in the stock market under the symbol “CRON” as early as February 26.
This is a big milestone for the marijuana industry. Cronos Group will become the first company that grows and sells marijuana to list on a US stock exchange. American companies that process the plant have been sidelined because marijuana is still federally illegal. But Cronos Group got themselves approved.
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