A Complete List Of NYSE And NASDAQ-Listed Cannabis Companies
As the cannabis industry keeps pushing forward, more companies are moving to list their stock on a major U.S. exchange like the NYSE or NASDAQ. The club, however, remains relatively small.
Given the federal uncertainty that still surrounds cannabis in America and in most of the world, few cannabis companies choose the path of a public listing in order to raise funds and even fewer among them are pure-play marijuana stocks.
Listing Vs. Other Funding Sources
Listing a stock allows enables fundraising from a larger pool of investors. At the same time, a publicly-traded stock can be volatile, and even more so in an emerging sector like cannabis.
10 Best Weed Stocks to Buy Now
While the coronavirus pandemic has wreaked havoc on many industries around the world, the weed industry proved to be antifragile and grew in the period amid rising sales, legalization, medical and recreational benefits. Legal cannabis made history in 2020, with states like New Jersey, Montana, and South Dakota voting to legalize recreational cannabis, as well as states like Arizona and Mississippi approving it.
Cannabis production is already one of the fastest-growing industries globally, but the year 2020 has taken it to the next tier. According to
BDSA, a leading cannabis industry research firm, global cannabis revenues hit approximately $21.3 billion in 2020, up 48% from $14.4 billion in 2019. The growing acceptance of marijuana in society and the legalization of cannabis both for medical and recreational use are the major growth catalysts driving the cannabis industry. Global cannabis revenues are expected to increase by more than 17%, from
Cannabis M&A surges in hot Pennsylvania market with $400 million in deals mjbizdaily.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mjbizdaily.com Daily Mail and Mail on Sunday newspapers.
Investment in Cannabis REITs -
Billions of dollars have been invested in cannabis Real Estate Investment Trusts (REIT) over the past few years and since late last summer, stocks have been climbing as more and more states legalize adult use medical and recreational cannabis. The first publicly traded cannabis REIT in the United States, Innovative Industrial Properties (NYSE: IIPR), had a stock value of $183.93 per share and a market capitalization of $4.16 billion as of the date of this article. This pivotal moment for the cannabis industry has given rise to a significant new investment opportunity for institutional and individual investors.
Author Bio
Eric has been writing about stocks and finance since the mid-1990s, when he lived in Prague, Czech Republic. Over the course of a varied career, he has also been a radio newscaster, an investment banker, and a bass player in a selection of rock and roll bands. A native New Yorker, he currently lives in Los Angeles.
In its first quarter,
Innovative Industrial Properties (NYSE:IIPR) not only convincingly beat analyst estimates, it also managed to more than double several key financial line items.
For the quarter, the company which is currently the only specialty marijuana-property real estate investment trust (REIT) on the stock market took in nearly $42.9 million in revenue. That was a 103% improvement over the prior-year quarter.