As several cannabis multistate operators upgrade their Canadian stock listings to higher-tier exchanges, more are expected to join the trend – but their ultimate goal appears to be listing on U.S. exchanges such as the Nasdaq.
Those Canadian equity uplistings, in which MSOs move from the more junior Canadian Securities Exchange (CSE) to the Toronto Stock Exchange (TSX) or the Cboe Canada exchange, bring potential advantages, including:
Higher trading volume and increased liquidity. Removing barriers to attracting institutional investment. Meeting stricter listing requirements, bringing those companies closer to the prerequisites for ultimately listing on the Nasdaq or New York Stock Exchange.
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Those more rigorous listing requirements “should provide added investor confidence,” said Matt Karnes, founder of New York-based cannabis investment research firm GreenWave Advisors.
The uplistings are also part of a broader goal of eventually listing on major U.S. exchanges when federal policy reform –
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