Cannabis companies, betting on a Biden win, ready IPOs

NEW YORK: A year ago, Flora Growth Chief Executive Damian Lopez had just spent a chunk of his company's seed capital buying a Colombian cannabis producer, and was fighting his way through the legal and financial hurdles that have made development of the industry such a challenge over the past decade.

Another hemp-based health products maker, Vertical Wellness, told Reuters this week it too was looking to debut next year. But even if President Donald Trump wins a second term, changing views on marijuana laws among voters and lawmakers have brightened the outlook for the industry, CEOs and analysts said.Advertisement

The Democratic nominee has widened his lead in several states likely to decide the election, Reuters polls showed, as well as his lead in online betting markets. A man peeks through the door at the Barbary Coast Sunset Cannabis Dispensary prior to the citywide shelter in place order amid the novel coronavirus outbreak, in San Francisco, California, on Mar 16, 2020.

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Cannabis companies, betting on a Biden win, ready IPOsA year ago, Flora Growth Chief Executive Damian Lopez had just spent a chunk of his company's seed capital buying a Colombian cannabis producer, ...
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