Verano Joins Curaleaf As Uplisting Momentum Builds
In our latest Trade To Black Podcast presented by Flowhub, hosts Shadd Dales and Anthony Varrell break down yet another cannabis company announcing a reverse split, adding even more fuel to the growing uplisting rumors across the cannabis industry. History appears to be repeating itself, doesn’t it? Just days after Curaleaf Holdings (TSX: CURA) (OTCQX: CURLF) announced a reverse stock split tied to future U.S. exchange uplisting ambitions, Verano Holdings Corp. (Cboe Canada: VRNO) (OTCQX: VRNOF) announced a 1-for-5 reverse stock split of its own. The company says the move is designed to position Verano for a potential future listing on a major U.S. stock exchange.
Verano announced a one-for-five share consolidation, reducing its outstanding shares from roughly 364 million to about 73 million, while Vireo Growth followed with a far steeper 30-to-one consolidation effective June 5th, cutting its share count from approximately 1.45 billion down to 48.5 million. The moves by Curaleaf and Verano could be an unmistakable signals that uplisting to major U.S. exchanges is no longer a question of if but when.
The addition of GTI, CuraLeaf, and Trulieve to Robinhood as fully tradable tickers — following Glasshouse, which had been first — was examined as a meaningful but measured development. Dales and Varrell acknowledged that expanded access broadens the potential investor pool, but were careful not to overstate the immediate impact, arguing that availability alone does not translate to capital deployment when competing sectors are delivering outsized returns daily.
Michael Bronstein, president of the American Trade Association for Cannabis and Hemp, joined the show to weigh in on Pennsylvania Senator Sharif Street’s recent comments. Bronstein confirmed a tangibly different atmosphere in Harrisburg, crediting Street as a widely respected figure across both parties.
The lawsuit filed by the attorneys general of Indiana, Nebraska, and Louisiana challenged the federal government’s move to reschedule cannabis to Schedule III. Louisiana’s AG has since withdrawn from the filing. Bronstein characterized the lawsuit as a natural but limited challenge, noting that only a small number of AGs joined, none from states with robust cannabis programs, and that resource allocation plays a significant role in whether an AG office pursues federal litigation.
This and more when you tune in.
