WASHINGTON, DC—Smart Approaches to Marijuana (SAM) today condemned the New York Stock Exchange’s decision to list Trulieve Cannabis—the first U.S. marijuana company to secure a spot. Trulieve’s shares are set to begin trading on June 10, a milestone made possible only by the Trump administration’s reckless reclassification of marijuana to Schedule III earlier this year.
“We are watching a video recording of Big Tobacco all over again in slow motion. America is one giant step closer to allowing Big Marijuana to follow in the exact footsteps of its top investor, Big Tobacco. This is a dark and terrible day for public health—one that will long be remembered as a grave mistake,” said SAM CEO Dr. Kevin A. Sabet. “Listing a marijuana company on the New York Stock Exchange gives Wall Street a direct stake in selling more addictive, high-potency drugs to more Americans. It pours fuel on an addiction crisis that is already destroying lives and tells every investor in the country that getting people hooked is a respectable business. SAM is exploring all legal options to stop this and remains committed to the decades-long fight against an industry we are confident will ultimately suffer the same fate as Big Tobacco. We will not stop. This only strengthens our resolve.”
###