February 15, 2021

A Look Into Jay-Z’s New Cannabis Company

Midas Letter
Midas Letter
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.

The Parent Company is currently trading in Canada on the NEO under the symbol GRAM.U and in the US under the ticker GRAMF.

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.


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