(Photo Credit - George Rex via Flickr)
A majority of the marijuana stocks we follow are traded on the OTC. Following movies like The Wolf of Wall Street, the mere mention of "penny stocks" or over the counter securities makes some investors cringe. We believe this is due to a mix of misinformation, and bad press regarding fly by night issuers.
To get more conformable with the OTC markets check out the first part of our three part article about penny stocks and trading over the counter cannabis names here. However, if you prefer NYSE listed names, the good news is that there a few marijuana stocks listed on the NYSE group of exchanges.
Unlike OTC stocks, NYSE and NYSE MKT listed stocks have a Designated Market Maker (DMM) who is responsible to "maintain a fair and orderly market" in the company. This leads to increased liquidity and minimized volatility during times of imbalanced supply and demand, such as the open and close.
Additionally, some brokers restrict access or have higher commissions or fees associated with trading OTC stocks. This is not the case with NYSE stocks. Readers using the Robinhood app, will be pleased to know that all of the following names can be traded on their platform (for a longer list of names accessible on Robinhood, check out our article, "Trading Marijuana Stocks on the Robinhood App")
The Companies:
AbbVie, Inc. (NYSE:ABBV)
Conclusion:
As the stigma surrounding the cannabis industry continues to subside, we expect more companies will up-list or IPO on the NYSE.
For more information on any of the marijuana stocks mentioned, be sure to check out their stock profiles in our NYSE marijuana stocks database (also linked through tickers above). Also, don't forget to connect with us on social media using the links below this article. To keep current with updates about the cannabis industry, subscribe to our email newsletter below.
