Supreme Court Settlement Paves Way For New York Medical Marijuana Shops To Enter Adult Market On Dec. 29
Portfolio Pulse from Maureen Meehan
The NY Supreme Court has lifted an injunction, allowing six medical marijuana companies to sell recreational cannabis starting Dec. 29. The companies include Columbia Care (CCHWF), Curaleaf (CURLF), Etain (owned by Riv Capital CNPOF), NYCANNA (owned by Acreage Holdings ACRHF), PharmaCann, and Valley Agriceuticals (owned by Cresco Labs CRLBF). Four other companies are eligible to apply for the recreational market, including Citiva Medical (owned by iAnthus Capital Holdings ITHUF), Fiorello Pharmaceuticals (owned by Green Thumb Industries GTBIF), MedMen (MMNFF), and Vireo Health (doing business as Goodness Growth Holdings, listed as GDNSF).
December 10, 2023 | 4:32 pm
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POSITIVE IMPACT
NYCANNA, owned by Acreage Holdings, is now authorized to sell recreational cannabis, which may enhance its market share and revenues.
The authorization to sell recreational cannabis in NY is expected to have a positive impact on Acreage Holdings' revenue and stock price in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Columbia Care is one of the six companies allowed to sell recreational cannabis in New York starting Dec. 29.
The ability to sell recreational cannabis likely means increased revenue potential for Columbia Care, which should positively impact the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Etain, owned by Riv Capital, has been given the green light to sell recreational cannabis in NY, potentially increasing its revenue.
The settlement allows Etain to expand its market, which could lead to higher sales and a positive effect on Riv Capital's stock in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Valley Agriceuticals, owned by Cresco Labs, can now participate in NY's recreational cannabis market, potentially boosting its financial performance.
The entry into the recreational market is a significant development for Cresco Labs, likely to lead to increased sales and a positive short term stock impact.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Curaleaf is permitted to sell recreational cannabis in New York from Dec. 29, which could significantly boost its market presence.
Entering the recreational market in NY is a major opportunity for Curaleaf, likely leading to increased sales and a positive short term impact on the stock.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Vireo Health, doing business as Goodness Growth Holdings, is eligible to apply for NY's recreational cannabis market, potentially boosting its growth.
Eligibility to apply for the recreational market in NY presents a growth opportunity for Goodness Growth Holdings, which could have a positive short term impact on its stock.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 70
POSITIVE IMPACT
Fiorello Pharmaceuticals, owned by Green Thumb Industries, is eligible to apply for NY's recreational cannabis market, which could expand its business scope.
While not yet authorized, the eligibility to apply for the recreational market in NY suggests potential for growth and a positive short term impact on Green Thumb Industries' stock.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 70
POSITIVE IMPACT
Citiva Medical, owned by iAnthus Capital Holdings, is eligible to transition to NY's recreational cannabis market, potentially increasing its market share.
Being eligible to apply for the recreational market in NY indicates a growth opportunity for iAnthus Capital Holdings, which may positively influence its stock in the short term.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 70
POSITIVE IMPACT
MedMen is among the companies eligible to apply for NY's recreational cannabis market, which could enhance its competitive position.
The opportunity to enter the recreational market in NY could lead to a larger customer base and higher revenues for MedMen, positively affecting its stock price in the short term.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 70