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Columbia Care can accept credit card purchases of cannabis, with launch of CNC Card nationwide

New York-based cannabis company Columbia Care Inc. announced Thursday the nationwide launch of its Columbia National Credit progrom, or “CNC Card,” which makes the company capable of directly accepting a credit card for cannabis purchases. The launch follows the success of its pilot program in New York. “By launching the first credit card in the country that can be used by consumers and industry participants to purchase cannabis products, we now exclusively offer an important capability that will serve Columbia Care’s national growth initiatives, including home delivery, automatic fulfillment and e-commerce,” said Chief Executive Nicholas Vita. The stock has lost 18% since closing its first-day of over-the-counter trading at $7.20 on May 1. Over the same time, the Horizons Marijuana Life Sciences Index ETF has lost 10% and the S&P 500 has slipped 1.5%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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