Marijuana has been a popular topic on Wall Street with a cannabis stocks serving as compelling investing opportunities in the last few years. Though 2019 was a disappointing year for cannabis investors, 2020 is shaping up to be a much better one with an expected rebound for the industry. This also is the year that well-known cannabis magazine High Times will make its exciting debut in the market.
The parent company of High Times Magazine, Hightimes Holding Corp., announced recently that it has received clearance from the Financial Industry Regulatory Authority (FINRA) to list on the public markets. Hightimes Holding Corp. is also the parent company to Dope Magazine, and the High Times Cannabis Cups.
High Times magazine has been a popular magazine supporting cannabis since 1974 when it first hit the newsstands. With the legal marijuana industry now a cash crop, it is no surprise that its parent company would want to take advantage of such a lucrative space.
Hightimes Holding Corp. is planning to keep its Reg. A+ IPO open to the public until the listing date, which will be announced in the coming weeks. The Reg. A+ Campaign has so far generated over 23,000 shareholders for the brand pre-listing.
The company was granted the HITM stock ticker symbol, which was the last regulatory hurdle it needed to clear before High Times shares can begin trading on the OTC (Over The Counter) market. Its mini IPO allows private companies to raise as much as $50 million from the public at a lower cost and with fewer regulations than traditional IPOs.
“We’re moments away from culminating one of the most successful Reg. A+ campaigns in history – and not just in Cannabis, that’s across industries. Between our new executive team, the coming retail stores, and our plans to take the brand into new opportunities, we’re extremely excited for the future,” Adam Levin, High Times’ executive chairman said to Benzinga.
“The listing of the company’s stock will give us a trading currency that will assist us in furthering our acquisitional goals,” Levine also said in a press release. “With the lessons, we’ve learned from other operator’s mistakes, great management, and the current state of the industry, now is the time for High Times to thrive! ”