Aurora Cannabis passed the test and is now on the NYSE.
One of Canada’s largest marijuana producers has gone public on the New York stock exchange. Aurora Cannabis began trading this morning, joining a select list of cannabis companies listed on the US exchange, Business Insider reports. Other Canadian weed companies in the New York market are Tilray, Cronos Group, and Canopy Growth. Aurora is already exchanging on the Toronto Stock Exchange, and for all Canadian companies to get listed on the US exchange they have to prove they are not violating federal laws that 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.
Coca-Cola is reportedly eyeing Aurora for a deal to link up and produce CBD infused drinks for the Canadian market, but nothing has been confirmed by 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.