New Jersey’s projected $2 billion recreational marijuana market kicks off
New Jersey’s projected $2 billion recreational marijuana market launched Thursday to long lines, free food and party music as the state got a jump on rival New York.
New Jersey’s projected $2 billion recreational marijuana market launched Thursday to long lines, free food and party music as the state got a jump on rival New York.
A group calling itself True Social Equity in Cannabis sued three marijuana multistate operators and an ancillary company in Illinois federal court, claiming the four constitute a “Chicago cartel” linked by the wealthy Pritzker, Wrigley and Kovler families.
New Jersey will launch its projected $2 billion adult-use marijuana market on April 21 amid lingering questions about whether operators can adequately serve the state’s 120,000 medical cannabis patients without disrupting recreational supplies.
More than a half-dozen existing medical marijuana operators in New Jersey – all large multistate operators – soon will be launching the state’s projected billion-dollar adult-use market.
Minnesota, long one of the country’s most heavily regulated and restrictive medical cannabis markets, is poised for dramatic growth and change – with sales expected to roughly double this year and a pair of big cannabis companies entering the state.
With many U.S. marijuana executives arguing that federal legalization is only a matter of time, industry insiders and politicians are increasingly focused on how to structure a national cannabis marketplace that is both vibrant and diverse.
Verano Holdings signed a definitive agreement to acquire Goodness Growth Holdings for roughly $413 million, a move that will enable the cannabis multistate operator to expand into Minnesota, New York and New Mexico.
Most of the top publicly held marijuana multistate operators posted single-digit revenue gains in the quarter ended Sept. 30, slowing from the sizzling double-digit growth in the previous quarter.
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.