The Cannabis Company That Won't Mix Work With Pleasure
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).
Darren Schuringa, Founder & CEO of ASYMmetric ETFs, discusses the major risks to markets and offers ways to hedge high inflation as consumer spending continues to rise.
Danielle Dimartino Booth, CEO & Director of Intelligence at Quill Intelligence and former Advisor to Dallas Fed, talks about what to expect from the FOMC meeting, and how labor participation and wage growth may impact inflation going forward.
Kristina Hooper, Chief Global Market Strategist at Invesco, talks about the Fed's flexibility around tapering and what to expect for the October Jobs Report.
Will Rhind, Founder & CEO of GraniteShares, talks about consumer spending amid inflation concerns and discusses the headwinds impacting the tech and energy sectors.
a.k.a Brands, an accelerator for next-gen, direct-to-consumer fashion brands like Princess Polly, released its first earnings report as a publicly-traded company with strong results. CEO Jill Ramsey joined Cheddar's "Opening Bell" to discuss the company's recent quarter and how the company has grown since its IPO in September.
Rivian is set to makes its market debut as the biggest IPO since Facebook in 2021. The EV maker priced its stock above the expected range at $78 apiece, allowing it to raise a whopping $11.9 billion. Matt Toole, director of deals intelligence at Refinitiv, joined Cheddar to discuss Rivian's highly anticipated IPO and how it's sending the already booming IPO market even higher.
A judge shot down a request by Apple to hold off on changes to payment options in the app store that would allow companies like Epic Games to use external payment systems. Apple had sought a stay that could delay making changes for years but the judge ordered them to implement fixes by December. The tech giant plans to appeal.
Twitter has officially launched its paid subscription service, Twitter Blue, which provides subscribers with a number of new features, including the option to edit tweets, post 10-minute videos, and view ad-free news articles.
