Connecticut’s projected $750 million recreational marijuana market is unlikely to match the size of neighboring New York’s, but it’s poised to launch first and might turn out to have as strong – if not stronger – of a social equity program, industry experts agreed..
Large marijuana multistate operators are enjoying lower loan interest rates these days, thanks to stronger balance sheets and the industry’s increasing stability as more states legalize MJ and federal reform appears inevitable.
All 10 of the largest publicly held marijuana multistate operators posted double-digit revenue growth in the quarter ended June 30, but stock prices remained weak as investors grow impatient with the slow pace of federal marijuana legalization efforts.
Since Senate Majority Leader Chuck Schumer unveiled a draft of his federal marijuana legalization bill in July, questions have begun percolating about what cannabis businesses stand to win or lose should the groundbreaking legislation become law.
With adult-use cannabis newly legal in New York, entrepreneurs and developers on the prowl for real estate are scooping up everything from a former prison site to greenhouses – and there are even plans for a sprawling “cannabis campus.”