Hey organic,
This issue has been brought up in the recent past by a few who questioned their present involvement in the MMJ sector. But if you follow the PR's and peruse their website, it is quite apparent that they are still in the MMJ business.
Friedman had no choice but to change the ticker/cusip name to gain the bank's stamp of approval since let's face it....there is still a stigma surrounding cannabis that has been propogated and exacerbated by the special interest groups that stand to lose big time with marijuana's rise to alcohol's status.
The big banks and the porfolio managers are part and parcel to this situation and as such, are bound by the restrictions placed on them by their BOD's and big investors. So by removing the marijuana implication through changing their name, they have solved the problem the big banks have been dealing with, and now we should see the deals begin to flow in.
GLTY,
Neo
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