Selling pot is no longer a private deal. Terra Tech, a cannabis-focused agriculture company, announced its acquisition of the California-based Blum Oakland dispensary on Tuesday.
The merger marks the first time a fully integrated company that is directly involved with the production, extraction and sale of cannabis can be publicly traded.
Cannabis-related companies are mostly listed on OTC markets — and some have been added to the Nasdaq — however they are mostly ancillary businesses that don’t deal directly with the product.
Though marijuana is federally illegal, medical marijuana has been legalized in 23 states and recreational cannabis has been legalized in four states and the District of Columbia.
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Kathleen Burke ~ MarketWatch.com ~
