Two cannabis-related companies in Southern California provided updates this week on plans to trade publicly.
Garden Grove-based KushCo Holdings Inc. said July 8 it had filed an application to list the company’s common shares on the Nasdaq Global Select Market, which consists of more than 1,200 stocks. The timing of the listing will be subject to exchange approval and the company’s fulfillment of regulatory requirements.
In the interim, KushCo, which sells packaging and containers for cannabis, will continue to trade on the OTC Markets under the current symbol KSHB. (Trading on the over-the-counter market is done directly between two parties without the supervision of an exchange.)
Cannabis remains illegal under federal law. But Nasdaq has permitted companies like KushCo–which offer products and services adjacent to the cannabis trade, and don’t actually buy and sell the marijuana plant–to begin trading on its exchange.
Published: July 10, 2019
Founder & Interim Editor of L.A. Cannabis News