New York Will Get 12 New Weed Dispensaries, Ending 2023 With More Than 35 Adult-Use Stores Open
Portfolio Pulse from Jelena Martinovic
New York Governor Kathy Hochul announced the launch of 12 new dispensaries for recreational cannabis, aiming to have over 35 open by the end of 2023. The expansion is part of the state's commitment to an equitable cannabis market. The NY Supreme Court recently lifted an injunction that had been blocking retail dispensary licenses. Companies like Acreage Holdings Inc., Cresco Labs Inc., and The Cannabist Company Holdings Inc. are among those permitted to sell adult-use cannabis. Experts suggest cannabis stocks are now poised for growth.
December 15, 2023 | 5:54 pm
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POSITIVE IMPACT
Acreage Holdings Inc., permitted to sell adult-use cannabis in NY, may see increased business and investor interest following the state's market expansion.
The company's involvement in the expanding NY cannabis market and the lifting of the injunction on retail licenses could lead to increased sales and positive investor sentiment in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The Cannabist Company Holdings Inc., formerly Columbia Care, is cleared to sell adult-use cannabis in NY, which may lead to enhanced business prospects.
The company's authorization to operate in the growing NY cannabis market, along with the positive sentiment around cannabis stocks, suggests potential for short-term stock appreciation.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Cresco Labs Inc., with its subsidiary Valley Agriceuticals LLC, is authorized to sell adult-use cannabis in NY, potentially benefiting from the market's growth.
As Cresco Labs operates in NY through Valley Agriceuticals LLC, the expansion of dispensaries and the positive market outlook could result in increased business and stock interest.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80