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Cannabis company Curaleaf applying to move listing to Toronto Stock Exchange in a move to boost visibility

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U.S.'s largest cannabis company by market cap plans to move its listing to the Toronto Stock Exchange while U.S. exchanges remain off limits

Curaleaf Holdings Inc. CURLF, +0.94%, the largest publicly-traded cannabis company in the U.S. by market capitalization, plans to move its stock listing to the Toronto Stock Exchange, the company’s chairman told MarketWatch on Thursday.

The TSX listing will bring stability, better governance and better protection from market manipulation of its stock, Jordan said. Curaleaf’s stock rose by 0.9% on Thursday. The stock is up 4.5% so far in 2023, compared to a 15% gain by the AdvisorShares Pure US Cannabis ETF MSOS. Despite its merits for cannabis companies seeking a public listing of some kind, the CSE remains a very small exchange compared to the TSX, which ranks as one of the larger stock exchanges in the world. CSE is considered a venture exchange, which means it doesn’t qualify for many institutions and pension funds that are typically prohibited from investing in venture-listed companies. The TSX has no such restrictions.

 

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