Mitchell Osak has spent nearly a decade inside the legal cannabis industry, working as a fractional executive and advisor to more than 220 cannabis companies worldwide. His read on the uplistings is blunt. “Trulieve and Glass House Brands might have been ready for Wall Street but Wall Street clearly wasn’t ready for them,” Osak said via email. He places himself firmly in what he calls the “wait camp” and expects to stay there for another quarter or two.
The reason, according to Osak, is structural rather than sentimental. “Cannabis is in the midst of a 5+ year investor Death Valley,” he said, pointing to a stigma that persists alongside financial and infrastructure gaps. Missing pieces such as equity research coverage, a critical mass of investable firms and full asset servicing support remain the ingredients the sector still lacks to meaningfully boost share prices and liquidity.
