This Is a Huge Development for the Cannabis Industry
The cannabis industry needs any sort of catalyst it can get right now. Pot stocks are in what appears to be an almost endless decline. Companies are shutting down facilities and even exiting markets. Investors are reluctant to invest in the industry as the growth days appear to be gone for now and profitability is nowhere in sight for many cannabis producers.
But there's something that could trigger some optimism in the industry, something that could offer a bit of a lifeline to struggling companies. Shares of marijuana multi-state operators (MSOs) may soon be available on a major North American exchange.
TerrAscend (OTC: TRSSF) is an MSO with operations in Pennsylvania, New Jersey, Maryland, Michigan, and California. The company applied to list on the Toronto Stock Exchange (TSX) earlier this year and recently obtained conditional approval, subject to "certain customary conditions required by the exchange." It would mark the first time an MSO can trade on the TSX.
Source Fool.com
