Ron DeSantis Signs Bill Issuing Medical Marijuana Licenses To Black Farmers & Telehealth Renewals For Patients
Portfolio Pulse from Maureen Meehan
Florida Governor Ron DeSantis has signed a bill allowing medical marijuana patients to renew their physician approvals via telehealth. The bill also aims to help Black farmers obtain medical marijuana licenses. The law will affect Florida's 828,000 medical marijuana patients and goes into effect on July 1. The bill is expected to resolve a long-standing conflict over licensing discrimination. However, the high cost of application and establishment could pose a challenge. Currently, Trulieve (OTC:TCNNF), Surterra, and Curaleaf (OTCQX:CURLF) control more than two-thirds of Florida's $1.2 billion medical marijuana treatment center industry.
June 28, 2023 | 12:21 am
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NEUTRAL IMPACT
The new law could potentially increase competition for Curaleaf in Florida's medical marijuana market. However, the high cost of entry may limit the number of new entrants.
While the new law could potentially increase competition for Curaleaf, the high cost of entry (application fees, attorney fees, real estate costs, etc.) may limit the number of new entrants. Therefore, the impact on Curaleaf's stock price is uncertain in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
The new law could potentially increase competition for Trulieve in Florida's medical marijuana market. However, the high cost of entry may limit the number of new entrants.
While the new law could potentially increase competition for Trulieve, the high cost of entry (application fees, attorney fees, real estate costs, etc.) may limit the number of new entrants. Therefore, the impact on Trulieve's stock price is uncertain in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70