High Times is an immensely successful monthly magazine and brand focused entirely on the legal sale of cannabis, which has been in publication since 1974.
Of course, this also means that it is something of a controversial company that often finds itself courting trouble wherever it goes.
However, few things are more controversial than its repeated failed attempts to enter the stock market as an IPO. But why have they had such continued trouble?
And why are they facing such troubles again? Let’s find out!
Why Is The High Times IPO So Controversial?
Though it is possible to purchase shares in the High Times magazine via the High Times website, it is not yet possible to buy those shares on the stock market.
This is likely due to the controversial content of the magazine, as well as its tumultuous history, having been handed off to multiple different owners since it began in 1974.
This has meant that High Times has had to try many times to get its IPO off the ground, and it has failed at every venture.
Why Has The High Times IPO Been Shelved Once Again?
The major reason why High Times’ newest IPO has been shelved is that the company, High Times Holdings, has failed to file its annual report for auditing yet again, a problem that it has encountered multiple times already.
As a result, the company has been warned by The Securities and Exchange Commission that it must cease accepting any investments in its IPO project.
However, to make matters much worse, the High Times has been found to still be continuing to pitch their IPO to potential investors, despite the many warnings they have already received.
This comes after conflicting reports from High Times’ own security lawyers claimed that the company was not knowingly continuing to pitch its IPO.
What Could This Mean For The Future Of The High Times IPO?
Considering that the High Times IPO has already had such a tumultuous history, it stands to reason that the latest controversies will have something of an impact on the future of the company’s IPOs.
In the future, High Times could find itself facing greater challenges when applying to be registered as an IPO, thanks to the fact that it has proven itself to be often unreliable, and willing to flagrantly disregard the rules and regulations placed upon it.
What Is An IPO?
In the simplest of terms, an IPO is short for “Initial Public Offering” which, itself, refers to the process undergone by a company in order to begin selling its shares to the public via the stock market.
An IPO is a term used to describe the process of transition from a company’s shares belonging to private owners to then being owned by the public!
You may otherwise hear the process of IPO referred to as “Going public”.
Are IPOs Worth It?
IPOs are generally worth it for the company entering the stock market because they allow the company to announce its entry into the stock market, which garners attention, and thus likely some investments.
However, though it can often be worth investing in IPOs as an investor, IPOs can often prove very risky, as the potential profits have yet to be proven, so there is a very great risk that the stocks will prove unprofitable.
Thus it is not always recommended to invest in IPOs that have garnered a great amount of hype, as they can be deceptively attractive.
Frequently Asked Questions
How much Is High Times worth?
The High Times is currently valued at around $250 million, and this is largely thanks to its acquisition by the Origo Acquisition Corp, which actively valued the company to be within that price range.
Is High Times Magazine Still Published?
Yes. The High Times magazine is still in publication, and each new issue is published every month. This has been the case since the magazine first entered circulation around 1974.
Who Is The Founder Of High Time Magazine?
The founder of The High Times was Thomas King Forcade. He was an underground journalist, and also frequently campaigned for the legalization of cannabis throughout much of the 1970s.
To Conclude
High Times’ latest attempts to drum up hype for a new IPO project are just the latest in a long series of failed attempts to enter the public stock market.
However, the latest attempt has easily proven to be the most disastrous, thanks to the High Times’ willing negligence of regulation as shown by their continued attempts to draw investors despite warnings from the Securities and Exchange Commission to cease their operations.
It is unclear whether the High Times will try again to develop an IPO, though it is likely that they will face some penalties thanks to their multiple failed attempts thus far.
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