Aurora Cannabis, which applied to list with the New York Stock Exchange (NYSE) earlier this month, had its application approved and is now officially open for trading, according to Business Insider.
Aurora will trade under the ticker symbol ACB but, despite being one of the largest Canadian cannabis producers, it is not the first to list on the NYSE. That honor went to Canopy Growth, who listed at the end of May. The first cannabis company listed on any exchange in the U.S. was Cronos Group, which listed on the Nasdaq in February.
However, it’s still a short list of cannabis companies trading stocks in the U.S., thanks largely to complicated federal money-laundering rules and the ongoing federal prohibition of cannabis. Many hope the status quo will change following Canada’s legalization on October 17.
“Our NYSE listing represents another important milestone that reflects our commitment to all stakeholders as we continue advancing domestic and international growth initiatives, which includes expanding our base of global institutional and retail investors. Aurora has rapidly developed into a globally mature organization with industry leading and technologically advanced production facilities available to produce at unprecedented scale to meet the growing demand for high-quality cannabis both in Canada and abroad.” — Terry Booth, CEO of Aurora, via a press release
Though current stockholders need not worry, Aurora intends to delist its over-the-counter offering, currently traded as ACBFF.
Get daily cannabis business news updates. Subscribe
End