Cannabis Producter Tilray Has Started to Be Traded in Nasdaq.
Cannabis Producing Tilray, began to be traded on the stock exchange
Tilray has been popular recently. Canada-based hemp producer Tilray was opened to the public. The marijuana manufacturer, whose stocks are sold in Nasdaq, will show yourself in Wall Street Stock. Tilray, a company based in Canada, producing cannabis, which is used for medical purposes, was opened to the public.
The company, which made an important move to take place in the mainstream financial world of the legal cannabis industry, started trading in Nasdaq.
At the end of the week, the company entered the market with a stock price of $ 22.39 and is thought to have a total market value of $ 2 billion.
Tilray Inc. waits legal hemp producers.
According to Financial Times website, New York Stock Exchange and Nasdaq ready to accept the stocks of the companies engaged in cannabis-related legal transaction in Canada.
Matthew Kennedy who is a strategist in Renaissance Capital explained that the public offering process was approved by the US stock exchanges. Besides, he said that the cannabis industry was taking an important step to expand.
It was stressed that the cannabis producer will be listed in stock exchanges in the United States, reaching large capital pools and accessing high levels of publicity. Tilray CEO Brendan Kennedy told the Financial Times that 70 percent of the shares sold during IPO were US-based investors.
18 percent of the shares were preferred by Canadians, while 12 percent went out of North America. Investors from cities such as London, Frankfurt and Hong Kong demanded stocks too.
Medical cannabis producer Canopy, listed on Toronto stock exchanges, was listed in NYSE in May. Similarly, Cronos, also listed in Toronto, began trading in Nasdaq in February. Nasdaq is also home to MTech Acquisition, a company that helps the cannabis industry.
Illegal cannabis sales are blocked by fintech.
The state of Hawaii, United States of America, announced that it would switch to cashless payment system in order to record the cannabis sales used for medical purposes.
The government of Hawaii has taken action against people who abuse medical marijuana use and engaged in illegal drug trafficking.
According to a joint report by the health departments of Hawaii, a significant portion of the cannabis production in the island state is illegally taken out of the border. Hawaii has been using the cashless payment in cannabis trade for drugs sales.
Mobile payment application enabled to buy marijuana.
Hawaii government has taken many measures to prevent cannabis robberies and illegal sales for a long time. Mobile payment application is one of the effective measurements. With this way, Drug and Herbs sales will be recorded in cash without cash. Thus, for the first time in the world, the sale of hemp products by a state will take place cashless.
Safe Harbor Private Bank will open special accounts for dispensaries in the province. All cannabis sales will take place with the CanPay mobile app that runs on this bank account. Thus, all operations will be digitally recorded.