California cannabis company Glass House Brands applied to list on the NYSE, becoming the second U.S. cannabis firm to do so after Trulieve's application last week. Glass House stock rose about 5% on Thursday and is up about 52% year-to-date, while Trulieve stock gained about 5% and is up about 16% this year. The AdvisorShares Pure Cannabis ETF rose 4% on Thursday. Glass House plans to de-consolidate its recreational business into a subsidiary with voting control held by an unnamed third-party investor, a structure designed to comply with NYSE rules against listing companies that sell adult-use cannabis. The move comes as the DEA prepares to hold hearings starting June 29 on whether to reclassify cannabis from Schedule I to Schedule III for all legal uses, following President Trump's directive to reschedule medical cannabis, which was made official in April.
NVIDIA CorporationGlass House Brands Inc.Applied for NYSE listing, a financial/valuation event that could increase liquidity and investor access