Cannabis Uplisting Rumours Keep Growing
The cannabis sector is buzzing again — and this time the conversation is centered around one major question: could cannabis stocks finally be getting closer to uplisting onto the NYSE and Nasdaq? In this episode of Trade To Black presented by Flowhub, hosts Shadd Dales and Anthony Varrell break down the growing speculation circulating across the industry and what it could potentially mean for MSOs, institutional money, and the next phase of the cannabis trade.
In industry news, Virginia Governor Abigail Spanberger dealt a blow to cannabis advocates by vetoing the state’s adult use bill. The veto came as a surprise to some who had interpreted Spanberger’s earlier social equity commentary as a signal she would sign the legislation. Instead, she cited a desire to build a “safe and effective tested industry” and called for changes including pushing the sales start date from January 2027 to July and cutting the number of licensed stores from 350 to 200.
Scott Grossman, CEO and founder of Vindico Capital and author of the Sunday Sesh Substack, joined the show to discuss the growing conversation around cannabis company uplisting to major U.S. exchanges. Grossman noted that many multi-state operators have already been in front of exchanges for years and that the process is consistent with the current administration’s agenda. He projected that early post-uplisting investment would come primarily from high-net-worth individuals and small family offices, with larger institutions following only after conducting their own rigorous due diligence — a process he described from his nearly 13 years at Magnetar as anything but impulsive.
Kyle Sherman, CEO of Flowhub, and Daniel Muller, CEO of Aeropay, joined the show to announce an integration that brings ACH pay-by-bank functionality to Flowhub’s e-commerce platform under the name Flowhub Pay. Muller noted that cash still accounts for roughly 70 percent of cannabis transactions nationwide, a figure the hosts found striking. The partnership aims to address that gap by offering consumers a direct bank-to-bank payment option that carries lower fees than credit cards, eliminates ATM withdrawal limits, and has been shown to drive basket sizes approximately 30 percent higher than cash transactions.
From cannabis stock momentum to the future of cannabis retail technology, this episode covers where the industry could be heading next — and why investors are paying closer attention again.
