Earlier today one of Canada’s largest marijuana producers Aurora Cannabis went public on the New York stock exchange. On Tuesday morning, Aurora Cannabis began trading and thereby joined several other cannabis companies that are already listed on the US exchange according to Business Insider reports.
Other Canadian companies on this list are Tilray, Cronos Group, and Canopy Growth. Though Aurora has been trading for a while on the Toronto Stock Exchange, before they could be listed on the NYSE, they had to prove they are not violating US federal laws which include shipping weed to the United States.
“We believe that the legalization in Canada offers a roadmap to invest in the companies that will form the basis of the legal cannabis industry in the coming years,” Jon Trauben, a managing partner at the cannabis-focused Altitude Investment Management told the publication.
In other news, reports suggests that Coca-Cola is eyeing Aurora for a deal to link up and produce CBD infused drinks for the Canadian market. While it is unconfirmed yet, it’s only a while before we receive some kind of official statement from both parties. Banks are still not jumping to lend money to weed companies until it is legal on a federal level in America.
“Canada has this big finger that is wagging, that is pointing down to us in the US saying, ‘How come you can’t get your stuff together?'” Adam Bierman, the CEO of the cannabis dispensary chain MedMen added.