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European Cannabis Companies Race To The Nasdaq: $1B In Tax Break On The Horizon

Benzinga LogoBenzinga17h ago

European Cannabis Companies Race To The Nasdaq: $1B In Tax Break On The Horizon - Benzinga

Quick Summary:

The Drug Enforcement Administration's proposed rule change to reclassify cannabis could significantly impact the industry by reducing exorbitant taxes, stimulatinig clinical research and potentially unlocking the world's largest cannabis market.

"If the US [reclassifies], coupled with the legislative change in Germany, it could be the perfect time for us and . . . investors to catch that sentiment wave," Wellford’s Joshua Roberts told Financial Times.

Some European cannabis companies are already planning initial public offerings (IPOs) on the Nasdaq, encouraged by the prospect of a less restrictive regulatory environment.

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Article Details

Author / Journalist: Nicolás Jose Rodriguez

Category: InvestingBusiness

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-18 @ 19:25:27 (17 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 623 words

Reading Time: 4 minutes read

Sentences: 28 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 21677222

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Main Topics: InvestingBusiness

Official Website: benzinga.com

Update Frequency: 4 posts per day

Year Established: 2010

Headquarters: United States

News Last Updated: 13 hours ago

Coverage Areas: United States

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Publication Timezone: GMT +8:00

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Publisher ID: #54

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