A Look Into Jay-Z’s New Cannabis Company
Cannabis companies are already on a tear, and few notable ones are still flying under the radar or have yet to become public.
One that I bought into while it was the largest cannabis SPAC in history merged with Jay-Z’s The Parent Company and is now gearing up for a NASDAQ listing, which will likely occur this year.
Jay-Z’s involvement is likely the signal that celebrities will be looking to align their brands with cannabis more aggressively with the Biden administration’s rollout of a federal strategy.
The company is the umbrella for Caliva, a California retailer with over 1 million customers and 200 dispensaries across the state, according to Michael Auerback, who put the SPAC together specifically for the cannabis business.