Here's What Made December Stand Out: These Two States Raked In Hundreds Of Thousands In Cannabis Sales
Portfolio Pulse from Jelena Martinovic
Maryland and Rhode Island saw record cannabis sales in December, with Maryland reaching $96.5 million and Rhode Island over $107.8 million for the year. Recreational cannabis dominated sales in Maryland, while both states saw high demand for edibles, prerolls, vape carts, and prepackaged flower. Curaleaf Holdings, Green Thumb Industries, Verano Holdings, and Cresco Labs are among the companies that transitioned to adult-use shops in Maryland. Experts suggest cannabis stocks are now poised for growth, with significant gains already seen in some stocks.
January 17, 2024 | 6:20 pm
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POSITIVE IMPACT
Cresco Labs Inc. is involved in Maryland's cannabis market, which could reflect positively on the company's earnings due to the record sales reported in December.
Cresco Labs' active role in Maryland's cannabis market and the state's record sales figures suggest a potential positive impact on the company's short-term financial performance and possibly its stock price.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Curaleaf Holdings Inc. saw a significant part of its operations in Maryland, contributing to the record sales in December. The company's transition to adult-use shops could indicate strong performance.
Curaleaf's direct involvement in Maryland's record-breaking cannabis sales and the transition to adult-use shops suggest a positive impact on the company's revenue and potentially its stock price in the short term.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Green Thumb Industries Inc. is part of the growing cannabis market in Maryland, contributing to the record sales. The company's performance is likely to be positively impacted by the market's expansion.
Green Thumb Industries' involvement in Maryland's cannabis market and the overall positive sales data suggest a favorable short-term impact on the company's financials and stock price.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Verano Holdings Corp. is engaged in Maryland's cannabis market, which saw record sales in December. The company's stock may benefit from the state's robust market performance.
Verano Holdings' participation in the lucrative Maryland market, especially with the high demand for cannabis products, is likely to have a positive short-term impact on the company's revenue and stock.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80