A limited supply of cannabis in the U.S. means those resources have to be divvied up carefully. For Cronos Group, that means keeping its medical and recreational marijuana operations in completely different verticals, CEO Michael Gorenstein told Cheddar. That ensures patients’ needs are prioritized over those of recreational users. “If you think about building a town, and you have a limited amount of building supplies, we want to make sure that we’re building a hospital before we’re building the bar,” he said. Canada-based Cronos Group started trading on the NASDAQ on Tuesday, making it the first marijuana company to list on a major U.S. market. “It’s a big milestone not just for us but for the entire industry,” said Gorenstein. “[It] just continues to show the acceptance that the cannabis industry is getting.” And the industry does seem to be growing at break-neck speed. Arcview, a leading researcher of the cannabis market, stated in a [recent report](https://arcviewgroup.com/product/5th-edition/) that the industry brought in $9.7 billion in sales in 2017, and that number could grow to over $25 billion by 2021. For the full interview, [click here](https://cheddar.com/videos/inside-the-first-cannabis-company-to-list-on-nasdaq).

Share:
More In Business
Starbucks’ Change Flushes Out a Debate Over Public Restroom Access
Starbucks’ decision to restrict its restrooms to paying customers has flushed out a wider problem: a patchwork of restroom use policies that varies by state and city. Starbucks announced last week a new code of conduct that says people need to make a purchase if they want to hang out or use the restroom. The coffee chain's policy change for bathroom privileges has left Americans confused and divided over who gets to go and when. The American Restroom Association, a public toilet advocacy group, was among the critics. Rules about restroom access in restaurants vary by state, city and county. The National Retail Federation says private businesses have a right to limit restroom use.
Trump Highlights Partnership Investing $500 Billion in AI
President Donald Trump is talking up a joint venture investing up to $500 billion for infrastructure tied to artificial intelligence by a new partnership formed by OpenAI, Oracle and SoftBank. The new entity, Stargate, will start building out data centers and the electricity generation needed for the further development of the fast-evolving AI in Texas, according to the White House. The initial investment is expected to be $100 billion and could reach five times that sum. While Trump has seized on similar announcements to show that his presidency is boosting the economy, there were already expectations of a massive buildout of data centers and electricity plants needed for the development of AI.
Load More