In December, Dan Blizerian partnered with ALQ Gold Corp. to form Green Axis Capital. Now, he says he is taking it public and launching the world’s first global cannabis brand.
He’s not the most liked man on the planet, but he does have a lot of money. Dan Blizerian announced in December that he is working on an investment company focusing on opportunities in the global cannabis sector.
Now, he is taking Green Axis Capital public.
Last Friday, Blizerian hosted a launch party at Drai’s Vancouver, a nightclub in the Trump International Hotel and Tower. The event was hosted by Blizerian himself, featuring musical performances. He sold tickets for $25 per each person.
Yesterday, he posted this photo on his Instagram from Vancouver.
Green Axis Capital’s IPO
“I’m going to create the first global cannabis brand, taking Green Axis public next month”
Bilzerian’s announcement to take Green Axis Capital public has certainly stirred up some interest online. Mostly from prospective investors looking to short stocks that are inflated by hype and fame.
A Reddit conversation in WeedStocks has seen considerable input in a short time. The first comment reads:
All jokes aside, Bilzerian does have a considerable following on social media. This alone makes the stock a potential play for the savvy investor. Another comment reads:
Looming federal intervention
Recently, U.S. Attorney General Sessions eliminated the rules that allowed states to legalize marijuana without federal intervention. Marijuana is still illegal federally in the United States. In addition, companies – located in states that have already legalized marijuana – are not allowed to operate internationally or beyond their borders.
Many factors remain unclear, especially with the TSX looking to smoke out any companies that violate U.S. federal law. This means that any company operating in the U.S. has the potential to be delisted.
It is certainly turbulent times for the marijuana investor. But high risk usually means high reward.