Nuns Lose Fight Against Cannabis Shop 150 Feet From Convent As Atlantic City Aims To Be East Coast Weed Hub
Portfolio Pulse from Maureen Meehan
In Atlantic City, N.J., Catholic nuns' efforts to prevent a cannabis dispensary from opening near their convent were unsuccessful as city officials approved the business. The city aims to become the East Coast hub for cannabis, with Mayor Marty Small Sr. and cannabis czar Kashawn McKinley leading the initiative. The Franciscan Sisters of the Renewal Convent raised concerns about the dispensary's impact on their educational and sobriety programs. Despite opposition from religious groups, the city's cannabis industry is expanding, with several multi-state operators including Acreage Holdings, Ascend Wellness, AYR Wellness, Curaleaf, Green Thumb, Columbia Care, TerrAscend, and Verano Holdings.
December 26, 2023 | 6:16 am
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Ascending
POSITIVE IMPACT
Ascend Wellness is part of the growing New Jersey cannabis market, which is seeing support from Atlantic City officials.
With Atlantic City's push to become a cannabis hub, Ascend Wellness is positioned to benefit from the expanding market and supportive regulatory environment.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Acreage Holdings is identified as a multi-state operator in New Jersey's expanding cannabis market.
As Atlantic City continues to expand its cannabis industry, Acreage Holdings, being one of the multi-state operators in the area, is likely to experience positive short-term impacts due to increased market opportunities.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
AYR Wellness is operating in New Jersey's burgeoning cannabis market, which is receiving a boost from Atlantic City's initiatives.
Atlantic City's commitment to becoming a cannabis hub is likely to have a positive short-term impact on AYR Wellness, given its presence as a multi-state operator in the region.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Columbia Care operates in the New Jersey cannabis market, which is being actively developed by Atlantic City.
Columbia Care, as a participant in New Jersey's cannabis industry, is likely to experience a positive short-term impact from the city's pro-cannabis initiatives.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Curaleaf is among the multi-state operators that could benefit from Atlantic City's growing cannabis market.
As a multi-state operator in New Jersey, Curaleaf is likely to see a positive short-term impact from the city's efforts to expand its cannabis industry.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Green Thumb is part of New Jersey's cannabis market, which could see growth from Atlantic City's pro-cannabis policies.
The city's drive to become a cannabis hub is expected to positively impact Green Thumb in the short term due to the increased market potential.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
TerrAscend is involved in New Jersey's cannabis industry, which could benefit from Atlantic City's supportive stance.
The city's ambition to be a cannabis hub is likely to positively influence TerrAscend's short-term prospects due to the growing local market.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Verano Holdings is a multi-state operator in New Jersey's cannabis market, which is supported by Atlantic City's development plans.
Atlantic City's efforts to become a cannabis hub are expected to have a positive short-term impact on Verano Holdings, given its operation in the state's market.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70