People Are One Step Closer To Buying Legal Weed In Virginia: Which Stock Is Leading In This New Retail Market?
Portfolio Pulse from Nicolás Jose Rodriguez
Virginia is progressing towards a regulated cannabis market with the Senate Subcommittee on Cannabis approving Senate Bill 448, aiming to create an equitable marketplace. The bill, merged with SB 423, seeks to avoid preferential treatment for medical marijuana companies. Existing medical cannabis companies like The Cannabist Company Holdings Inc. (CBST), Green Thumb Industries Inc. (GTBIF), and Jushi Holdings Inc. (JUSHF) are expected to have an early advantage. The market is projected to be limited in competition initially, with 300+ retail licenses planned. Social equity is a focus, with a 6% excise tax funding related initiatives. A timeline for the market's development has been set, with recreational sales by medical incumbents starting July 1, 2024. Roanoke College is launching a Cannabis Studies Program in fall 2024.
January 26, 2024 | 9:07 pm
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POSITIVE IMPACT
The Cannabist Company Holdings Inc. is expected to benefit from an early advantage in Virginia's new regulated cannabis market.
As one of the existing medical cannabis companies, CBST is likely to benefit from the early stages of the market's development, which has limited competition. The regulatory progress supports their early advantage.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Green Thumb Industries Inc. stands to gain from the early stages of Virginia's regulated cannabis market due to its existing medical cannabis operations.
Green Thumb Industries Inc., as an existing player in the medical cannabis space, is likely to see a positive impact from the limited initial competition in Virginia's cannabis market.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Jushi Holdings Inc. is anticipated to have an early mover advantage in the newly regulated cannabis market of Virginia.
Jushi Holdings Inc. is among the medical cannabis companies expected to benefit from the early phase of Virginia's cannabis market, which promises limited competition and potential economic benefits.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80