Of course, that didn’t stop many of the far-fetched startups from listing on the NASDAQ and the New York Stock Exchange, gaining instant credibility and capturing the imagination of impulsive investors and venture capitalists alike, who poured millions of dollars into their valuations.
By the time the dot-com bubble burst in 2002, many of the companies had crashed, burned, and landed in the proverbial ash heap of history.
Meanwhile, the Canadian markets welcome cannabis companies with open arms. While these exchanges may not be as prestigious or populated by institutional .
Carl Saling is the chief executive and co-founder, and as an entrepreneur who has been building businesses since he was in his teens, he understands both the pitfalls and opportunities of listing on a public stock exchange.
“I know the CSE is very bullish on cannabis companies as long as they’re operated properly, so they provided a lot of support and connections, and it’s been great for us,” he said.
Despite any confusion or questions about how the markets work north of the border, most cannabis companies are grateful the markets exist and are providing much-needed capital and a potential on-ramp to more high-profile markets in the future.
“Early on, we had a lot of individual investors, but now that we’re more established and our revenue is where it is, we have institutional investors coming in and being on a public market enables that,” Saling said.
For cannabis companies in the U.S., the CSE, TSX, and OTC are something like minor-league baseball: Companies need to prove they can hit the fast ball and the curve ball and be a steady player over the long haul.
Of course, then there will be even more know-it-all, surly fans in the front row, criticizing every strikeout and miscue.