After an ambitious attempt, it has been announced that NASDAQ has rejected an application by MassRoots, a social network for cannabis users, to list shares on its exchange.
A recent Massroots press release states that NASDAQ believes the company was helping to sell an illegal substance.
According to Business Insider, MassRoots plans to formally appeal, and it has started a public campaign to get more people to protest the electronic exchange.
“If we were a social network for tobacco users or alcohol consumers, the Nasdaq would likely be moving forward on our application even though alcohol and tobacco cause far more deaths and societal damage than cannabis ever will,” stated MassRoots CEO, Isaac Dietrich.
“Moreover, the Nasdaq has already listed at least four biotechnology companies that extract compounds from the cannabis plant for scientific research – actually touching the plant as part of their business model,” Dietrich continued.
MassRoots argued that NASDAQ’s decision would make it more difficult for other weed entrepreneurs to raise capital.
Though this may come as a blow to most cannabis industry enthusiasts, do not allow yourselves to be defeated. There are still various ways to invest in the industry.
Black Enterprise Senior Finance Editor, Stacey Tisdale, recently had an opportunity to speak with Enzo Villani, CEO of Equities.com, a financial platform where anyone seeking to invest in emerging growth equity companies can discover news, information, and investment tools to find out ways for you and I to start investing in the cannabis industry, now, despite unruly roadblocks.
With currently about 12-15 sectors out there for you to consider investing in, including the consulting service sector, which capitalizes on the need for licensing, facilities, etc., the biotechnology sector, with companies that try to capitalize on the anticipated growth of cannabis pharmaceutical products, and the infused products and extracts sector, which focuses on cannabis-related products like edibles and extracts, there are ways to capitalize.
Check out Villani’s insight: