Can Cannabis 'Bring Retail Back To Life'? Verano, Curaleaf, NewLake Capital Bet Big On Local New Jersey Market
Portfolio Pulse from Anthony Noto
Verano Holdings Corp. and Curaleaf Holdings Inc. are investing in the local New Jersey cannabis market, repurposing vacant spaces like an abandoned Walmart to boost the local economy. Verano has opened a cultivation facility and dispensary, while Curaleaf operates six locations in the state. NewLake Capital is also partnering with local tenants. The cannabis market in New Jersey is growing, with over $800 million in sales and significant job growth.
June 17, 2024 | 5:02 pm
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NEUTRAL IMPACT
An abandoned Walmart store in New Jersey has been repurposed by Verano Holdings for cannabis cultivation, indirectly benefiting Walmart by reducing vacant properties.
While the repurposing of an abandoned Walmart by Verano Holdings is positive for the local community, the direct impact on Walmart's stock is minimal.
CONFIDENCE 70
IMPORTANCE 20
RELEVANCE 30
POSITIVE IMPACT
Curaleaf Holdings Inc. is expanding its presence in New Jersey with six locations, contributing to local employment and the state's growing cannabis market.
Curaleaf's expansion in New Jersey with six locations and local hiring is likely to positively impact its stock due to the growing cannabis market and increased employment.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Verano Holdings Corp. is revitalizing an abandoned Walmart in New Jersey for cannabis cultivation and sales, boosting local employment and the economy.
Verano's initiative to repurpose an abandoned Walmart for cannabis cultivation and sales is likely to have a positive impact on its stock due to the boost in local employment and economic activity.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90