While the bulk of marijuana stocks can be found on the OTC markets, a few prominent players trade on the main stages of the NASDAQ and the New York Stock Exchange. Although marijuana companies on the New York Stock Exchange are few and far between, a couple of them are significant players proving to be bold moves for pot stock investors. In fact, NYSE cannabis stocks hold some of the most prominent properties in the cannabis industry.
The marijuana stocks on the NYSE range from drug companies to those in the real estate sector, to one famous company who recently decided to make a name for themselves in weed. As part of our research series on the marijuana stock market, these are the six marijuana companies that trade on the NYSE:
22nd Century Group
22nd Century Group (XXII) is a marijuana stock that first debuted on the NYSE on March 11, 2014. A biotech company, this NYSE weed stock focuses on genetic engineering and plant breeding, with a particular fixation on cannabinoid-related products that come directly from industrial hemp. However, this part-time pot stock spends a considerable amount of resources working with tobacco, most notably attempting to develop specific strains of nicotine that are “non-addictive” to comply with new FDA regulations. In 2017 22nd century harvested its first hemp crop in partnership with the University of Virginia, which was valued at $1 million. This NYSE cannabis stock has been trading at around $2.30.
Though it is one of the marijuana companies on the New York Stock Exchange that is not a pure play pick, AbbVie Inc. (ABBV) has something to which fellow pot stocks cannot lay claim. As a large-cap biopharmaceutical company, AbbVie developed the first cannabis-based approved by the Food and Drug