NJ Ready To Legalize Recreational Cannabis

New Jersey is on the fast track to legalizing recreational cannabis – and once again this is creating another great investment opportunity. I see four exciting cannabis companies that are ready to capitalize.

New Jersey gave the US cannabis industry a big jolt yesterday after New Jersey Governor, Phil Murphy, and state legislators announced they had agreed on legislation that would legalize recreational cannabis.

“Legalizing adult-use marijuana is a monumental step to reducing disparities in our criminal justice system,” Murphy said in a press release. “After months of hard work and thoughtful negotiations, I’m thrilled to announce an agreement with my partners in the Legislature on the broad outlines of adult-use marijuana legislation.”

Looking forward, the bill still has a few hurdles to clear.

It is still unknown if enough votes exist to clear the Democrat-controlled legislature. Murphy will have to rally enough votes in the Senate for legalization, but a floor vote is possible as early as March 25th.

Despite these short-term speed bumps, it looks like a lock that New Jersey will become the 11th state in the US to legalize recreational cannabis. I expect cannabis to go legal pretty quickly – by the end of 2019 at the latest.

If it happens, analysts are predicting that New Jersey will blossom into one of the largest cannabis markets in the country.

Greenwave Advisors, a cannabis research and consulting business, predicts that annual cannabis sales in New Jersey would reach $850 million, or 2.4% of the total US market by 2022.

Naturally, this has investors asking an important question – which cannabis companies are in position to capitalize on New Jersey’s green future?

I think these four promising cannabis companies that could thrive as a result of their early and growing presence in New Jersey.

Curaleaf Holdings (CURA, CURLF)

Caraleaf is headquartered in Canada but primarily operates in the US. In total, they own 42 local dispensaries, a dozen cultivation facilities, and 10 processing facilities. In New Jersey, Curaleaf owns one dispensary and one cultivation facility. They don’t have a super strong presence yet, but I expect Curaleaf to rapidly expand in New Jersey now that the recreational vote is on the table.

Recreational Cannabis

Like analysis from Michael Vodicka of Cannabis Stock Trades?

To get the latest analysis as soon as it is released, please subscribe to our free weekly newsletter

Cannabis Stock Trades provides investors reliable information on the cannabis industry and the small group of hidden companies that are cashing in on this explosive trend.

Terrascent (TER, TRSSF)

Terrascent is Canadian cannabis company. In December, one of its subsidiaries, TENA, was awarded a permit to apply for a license to become a vertically integrated cannabis operator, which means to grow cannabis and sell cannabis at the retail level. From a group of 146 applicants, TENA received the highest score – a strong indicator that the company is highly likely to secure a permit.

Recreational Cannabis

Acreage Holdings (ACR, ACRGF)

Acreage is one of the largest US cannabis companies, growing and selling cannabis in 19 states. Acreage recently announced a cannabis supply deal with Compassionate Care Foundation, one of six licensed cannabis providers in New Jersey.

Choom Holdings (CHOO, CHOOM)

Choom is a Canadian cannabis company that just announced it has signed a letter of intent to purchase an unnamed New Jersey-based medical cannabis facility. I know that sounds a little vague, but it shows that Choom has its eye on New Jersey and I expect that to pay off in the long run.

Recreational Cannabis

The Big Picture

New Jersey is on the fast track to legalizing recreational cannabis. Analysts estimate annual sales could climb to $850 million by 2020. This is creating a huge opportunity for the small group of cannabis companies operating in the state and you may want to put CURLF, TRSSF, ACRGF, and CHOOM on your radar.

Enjoy,

Michael Vodicka
Editor, Cannabis Stock Trades

The information contained in this post is for informational and educational purposes only. The trading ideas and stock selections represented on the Cannabis Stock Trades website are not tailored to your individual investment needs. Readers and members are advised to consult with their financial advisor before entering into any trade. Cannabis stocks carry a certain level of risk and we accept no responsibility for any potential losses. All trades, patterns, charts, systems, etc. discussed are for illustrative purposes only and not to be construed as specific advisory recommendations. All ideas and material presented are entirely those of the author and do not necessarily reflect those of the publisher.

4 thoughts on “NJ Ready To Legalize Recreational Cannabis

  1. I happened to stumble on this & would like to comment. I personally have never used pot or any other substance for that matter in my 69 years on this earth. However with that being said, I'd also like to say that i know some people who do smoke pot that are very productive & successful. You can't always judge a book by it's cover nor group people as unproductive if they smoke pot.

  2. Just so everyone understands - we're talking about entire states full of stoned individuals here. By definition, people who use pot are unproductive. There will be an absolutely enormous social cost here - very difficult to measure in absolute terms, but it will be large to say the least. How can one try to skin a profit off of investors on this crap? Seriously? Shame on you. Maybe out of the other side of your face you can let these poor 'investors' know what increased welfare, healthcare, and other social support systems are going to do to their taxes? Despicable that a) someone would pen this garbage and b) that a financial website that touts itself as responsible would post it.

    1. I'm trying to decide if this is written in irony or if you're serious! I'm 62 & know ALOT of people in my age group, that have "smoked pot" for decades. Millions I don't know also. Don't see any of us wandering in a daze, would challenge you for an IQ test any day ( mine is 128 ), I have NEVER taken welfare, always ran a successful business ( & so have MANY others ), own a wonderful home & enjoy extremely good health. So, I would think it may be fair to hope for an apology on behalf of the millions of cannabis partakers in the world who are VERY responsible.

Comments are closed.