AAPL, MSFT, and now: CRON. NASDAQ’s stock market on Tuesday listed Cronos, the Canadian medical cannabis company. Significantly, this is the first time ever that the stock market has listed a cannabis company of any stripe and it further demonstrates the eroding stigma that cannabis has carried for decades within the United States.

For Cronos, which already trades on Canada’s markets, the move is a natural progression. But for the cannabis industry? It’s a major symbolic and practical measure. Whatever headwinds the cannabis industry has encountered at the hands of the current administration, it’s clear that they’re being countered by the rapidly growing public acceptance of cannabis, as well as the seeming greenlight from Wall Street with NASDAQ placing the first “pure play” medical cannabis company on its market.

But this move by NASDAQ is no guarantee for other cannabis companies to readily be granted placement on the stock market, however it does set an important precedent. Cronos has for years been an industry leader within the medical cannabis field and this move by NASDAQ, to an extent, can now provide a roadmap of sorts for other companies that are within compliance with the market’s rules and guidelines. But it did not come easily for Cronos, the company took six months to prepare for the move, making sure that every “t” was crossed and every “i” dotted.

“It was an exercise in checking everything we do and looking in the mirror and asking are there any gaps, because if we’re used as an example for other cannabis companies, we want to make sure that we’re setting the right example,” Cronos founder/CEO Mike Gorenstein said in an interview.

For the California cannabis industry, the announcement is nothing but good news and positive reinforcement, coming fresh on the heels of California’s MedMen receiving $30 million in investment, which on its own was perceived as an industry-wide affirmation of what promise and potential massive financial institutions see taking shape within the cannabis industry.

Have questions about investing in Cronos? Always feel welcome to chat with our compliance and regulation experts at MMLG. We’re the right experts with the right information when it comes to investing in cannabis.