MassRoots, one of the largest and most active technology platforms for cannabis consumers, businesses and activists with 900,000 users, has had their application to join the Nasdaq denied. The Nasdaq determined that as MassRoots may be deemed as aiding and abetting the distribution of an illegal substance, and they are unwilling to proceed with MassRoots’ listing application.
This blow to the legalized cannabis industry may be seen as a larger message against the new and successful industry.
MassRoots CEO Isaac Dietrich said, “If we were a social network for tobacco users or alcohol consumers, the Nasdaq would likely be moving forward on our application even though alcohol and tobacco cause far more deaths and societal damage than cannabis ever will. Moreover, the Nasdaq has already listed at least 4 biotechnology companies that extract compounds from the cannabis plant for scientific research – actually touching the plant as part of their business model. We believe the Nasdaq has inappropriately denied our application and look forward to making our case not just to the Nasdaq Listing and Hearings Review Panel, but directly to the American public.”
What do you think, Stoner Nation?
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