The North America Cannabis Industry Has A New Champion

The North America cannabis industry has a new champion. This well-known sector leader just completed an $875 million acquisition that puts it into a position to dominate the U.S. cannabis market.

Even though shares have been rallying for the last few weeks, I see plenty of upside ahead.

Curaleaf Holdings (CURLF) is an early leader in the high-growth U.S. cannabis industry with a market cap of $4.5 billion and operations in 18 states.

However, after one of the largest acquisitions in the history of the U.S. cannabis industry, Curaleaf has definitively taken the crown as the largest cannabis company in North America.

On July 23, Curaleaf completed its $875 million acquisition of Grass Roots, a fellow Chicago-based industry leader that operates in 12 states, owns 52 dispensaries, 14 cultivation sites, and 14 processing sites.

The new combined entity will become the largest cannabis company in the world by revenue. Here are some more details from the press release. Continue reading "The North America Cannabis Industry Has A New Champion"

Oklahoma Medical Cannabis Sales Outperform

Oklahoma is showing the rest of the U.S. how to run the medical cannabis industry. This southern U.S. state has surprised many analysts, quickly growing into one of the largest and fastest-growing medical cannabis markets in the country.

Oklahoma is on pace to do $1 billion in cannabis sales in 2021 and is reporting record sales in each of the last two months.

Here are some more details from mjbizdaily.com.

Already one of the largest and fastest-growing markets in the country, Oklahoma’s medical marijuana industry broke sales records in both April and May as consumers stocked up on products amid the coronavirus pandemic.

In April, sales in Oklahoma shot up to $61.5 million, a 21% increase from March.

Sales rose again in May to reach nearly $74 million – a monthly figure that far exceeds that of adult-use markets in Illinois, Massachusetts, Michigan and Nevada.

With more than $275 million in MMJ sales in 2020 to date, Oklahoma’s market could easily eclipse $700 million by the end of the year – in the same ballpark as more populous states such as Arizona and Florida.

Patients continued to enroll in Oklahoma’s medical cannabis program throughout the COVID-19 crisis – rising from roughly 272,000 in March to 297,000 by the end of May – though the recent monthly sales gains were driven by additional spending from existing patients.

Oklahoma medical cannabis

Looking forward, I expect Oklahoma’s cannabis market to grow at a rapid pace. Continue reading "Oklahoma Medical Cannabis Sales Outperform"

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. Continue reading "NJ Ready To Legalize Recreational Cannabis"