'New York Regulators Greenlight Rec Market Entrance Of Six Medical Cannabis Behemoths' - GreenMarketReport
Portfolio Pulse from Benzinga Newsdesk
New York regulators approved six medical cannabis companies to begin adult-use sales on Dec. 29. The companies include Columbia Care, Curaleaf, Etain (owned by Riv Capital), NYCANNA (owned by Acreage Holdings), PharmaCann, and Valley Agriceuticals (owned by Cresco Labs). They can set up recreational sales at up to three of their existing medical dispensaries, but currently, each is approved for one. Four other companies are eligible to apply for the recreational market, and Citiva (owned by iAnthus Capital) and Fiorello (owned by Green Thumb Industries) were approved for new medical-only dispensaries.
December 08, 2023 | 7:02 pm
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POSITIVE IMPACT
Acreage Holdings' subsidiary NYCANNA is approved for adult-use cannabis sales in NY, which may enhance Acreage's market penetration and revenue.
NYCANNA's approval for adult-use sales in NY represents a strategic growth opportunity for Acreage Holdings, likely to positively affect its short-term financial performance.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Columbia Care has been approved by NY regulators to begin adult-use cannabis sales, potentially increasing its market presence and revenue.
Approval for adult-use sales in NY is a significant expansion for Columbia Care, likely to increase its revenue and market share in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Cresco Labs' subsidiary Valley Agriceuticals is approved to start adult-use cannabis sales in NY, potentially boosting Cresco's market reach and revenues.
The approval for Valley Agriceuticals, owned by Cresco Labs, to enter the NY adult-use market is expected to positively impact Cresco's financials and market position.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Curaleaf has received approval to start adult-use cannabis sales in NY, which could lead to an increase in its customer base and sales.
Curaleaf's entry into the NY adult-use market is a positive development, likely to enhance its sales and customer base in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Green Thumb Industries' subsidiary Fiorello Pharmaceuticals received approval for new medical-only dispensaries, which may support its market presence in NY.
While the news is more focused on recreational sales, the approval for new medical-only dispensaries for Fiorello Pharmaceuticals is still a positive development for Green Thumb Industries, likely to support its market presence in NY.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
iAnthus Capital's subsidiary Citiva Medical was approved for a new medical-only dispensary in NY, potentially aiding its market presence and stability.
The approval for a new medical-only dispensary for Citiva Medical, owned by iAnthus Capital, is a positive step, likely to contribute to its market presence and stability in NY.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70