Cannabis company Leafly Inc. marked the unofficial April 20 pot holiday by ringing the Nasdaq opening bell.
Leafly Inc. rang the opening bell at the Nasdaq Wednesday as the cannabis marketplace celebrated the unofficial cannabis holiday of April 20 at a very official place.
While Leafly provides information on cannabis strains and helps consumers purchase cannabis, it does not have any direct contact with the plant, so it’s one of many U.S.-focused cannabis companies that trade on the Nasdaq. . Leafly traces its roots to founder Brendan Kennedy, the former executive of SVB Financial Group subsidiary Silicon Valley Bank SIVB, -3.02%, who formed cannabis private-equity firm Privateer Capital, which has backed Leafly, Marley Natural and Tilray Inc. TLRY, -6.95%. Kennedy helped launch the company as a cannabis information source.
Four-twenty observances have grown in renown as more states legalized the plant for medical and adult use. The Nasdaq allows some plant touching companies such as Organigram, Cronos Group CRON, -3.45% and Tilray Brands Inc. TLRY, -6.95% to trade because they’re based in Canada, where pot remains legal nationally.
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