Fast Track Recap: Colorado & Michigan Weed Sales Decline, Virginia Eyes Legal Market, Stock Winners & Losers
Portfolio Pulse from Nicolás Jose Rodriguez
Cannabis sales in Colorado and Michigan have declined, with Colorado experiencing its lowest sales year since 2017 and Michigan facing a 13.5% drop in January sales despite a record December. Virginia is advancing towards retail marijuana sales with the passing of HB698, aiming for a January 1, 2024 start. Key players in these markets include Schwazze, Red White & Bloom Brands, TerrAscend, 4Front, Ascend Wellness Holdings, Cresco, Verano, The Cannabist Company Holdings, Green Thumb Industries, and Jushi Holdings.
February 12, 2024 | 11:57 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Red White & Bloom faces a tough economic environment in Michigan's expanding but slowing cannabis market.
Despite Michigan's market growth, the slowing pace and tough economics may negatively impact Red White & Bloom's short-term performance.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Schwazze faces a challenging market in Colorado with sales decline but aims for consolidation.
Schwazze's market consolidation strategy in a declining Colorado cannabis market may face short-term challenges, impacting its stock negatively.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The Cannabist Company Holdings is poised to lead Virginia's recreational cannabis market, potentially boosting its stock.
With Virginia moving towards retail sales and The Cannabist Company Holdings positioned as a leader, its stock is likely to see positive short-term impact.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90