New York is on the fast track to becoming the second largest recreational cannabis market in the United States. Today I am going to reveal two promising young cannabis companies operating in New York that are in position to benefit.
New York governor Andrew Cuomo revealed some big news in late December when he announced that legalizing recreational cannabis would be one of his top priorities in 2019.
Here are some more details from the New York Times.
Gov. Andrew M. Cuomo announced that he would push to legalize recreational marijuana next year, a move that could generate more than $1.7 billion in sales annually and put New York in line with several neighboring states. The highly anticipated proposal came in a speech in Manhattan on Monday, in which the governor outlined his agenda for the first 100 days of his third term.
This is big news for the US cannabis industry. If New York achieves its goal – that’s what I expect – it would almost instantly make the state one of the largest cannabis markets in the country.
The New York comptroller released a study in May that predicted New York cannabis market would grow into a $3.1 billion annual industry.
This is creating another great investment opportunity. With billions set to flow through New York’s cannabis market every year, cannabis companies are scrambling to cash in. Continue reading "New York Wants To Legalize Cannabis in 2019"