The cannabis industry of recent has continued to astound investors expectations as new companies come into the market and gains are frequent. As regulations continue to shift and the public opinion of cannabis changes as well, it seems as though the future of the market is even more exciting than the present.
One of the most exciting pieces of news has come recently as the company Aurora Cannabis stated late on Tuesday that they plan to trade on the NYSE under the ticker symbol ACB. This is quite a big deal as many of the most popular cannabis companies have worked to get on prestigious U.S. exchanges such as the New York Stock Exchange. The company Canopy Growth was one of the first companies to do so, and managed to see a large amount of success from the listing as well as a lot of much-needed notoriety.
Aurora Cannabis (OTC:ACBFF) stated that they filed the registration form to be listed on the NYSE on Friday as well as one other cannabis company. This is not to say that the company will discontinue their listing on the TSX, but this would however delist them from the OTC trading market. This is quite obvious as there is no need to be listed on the OTC market if they are on the NYSE. Aurora said that the plan to trade on the NYSE is one of the high hopes they have had for some time now as one of the largest cannabis based companies in the world.
The timing for this could not be more perfect as well as Canada is scheduled to begin sales of recreational marijuana on October 17th. Many other companies have begun to up their supply of cannabis as the demand for the market is scheduled to skyrocket at that point. The listing also brings with it a large amount of notoriety that is much needed as often these things have gone under the table due to the taboo that has been associated with the industry.
Aurora, which is based out of Alberta, currently has as much as 1,500 employees as well as a fully funded production method that will enable them to produce as much as 500,000 kilograms of cannabis per year. This number is quite substantial and puts them at the higher tier of cannabis growers throughout the world. The company has also been in talks with Coca-Cola (NYSE:KO) to hopefully begin the production of cannabis-infusedLegalizing Recreational Cannabis Brings New Investors Into the Market drinks in the coming months to years. Although this is speculation, many large beverage companies and distributors have been working to begin production or at least finding methods of beginning to produce cannabis-infused drinks for sale throughout the market. The hopes are high that as we continue to move throughout the future of cannabis, deals like this can continue to fuel innovation in the changing marijuana space. Only time will tell how well these deals continue to affect the future of the industry and how it can continue to change amidst legislative challenges and the shifting public paradigm on the substance.