With so many players in the booming world of marijuana stocks, how is a company to differentiate itself enough to beat the volatility of this industry and keep investors coming back for more? In this Motley Fool Live segment, aired on Oct.
Jim Cacioppo: I’ll switch to your second question, which is what makes Jushi different, and we’ve been getting that a lot and I think it’s a great question.
When I say investable, and I’m talking about the public ones, there’s another 10 or so that I don’t think they are investable because they just don’t have the balance sheets or the management teams, and they probably don’t belong to be public for the next 10, in my view.
In a year, we’re doing 220%, and it’s not just the law of small numbers, because our second-quarter numbers annualized at about a little over $190 million for the quarter.
We think that growth continues, and I’ll get into why.
I would say our top three assets that we like to focus on, in the great state of Pennsylvania, right now in the legislature, there’s a cannabis bill to go adult use.
We have the max footprint of 18 retail, they’ll all be open by the end of the year, and then we have a grower processer of footprint that we’re scaling to 190,000 by the end of next year, capable of producing about 70,000 pounds a year, which is a big number.
Then we have the great state of Virginia, and we probably have the most unique licenses in the whole industry and I would say most valuable license because we have an exclusive right to serve Northern Virginia.
They’re great cannabis consumers, and we have exclusive right through six stores that were putting fantastic huge stores that are really top of the industry in terms of what they can do.
We got that because it’s a sleepy medical market and it transformed into a great medical market because it’s a very progressive state from a political perspective.
We have a private equity M&A team in Jushi that I think is the best in the industry, whether you’re an investment bank or private equity firm investing, but they only have one client, and that’s Jushi.
That was tremendous, and then we picked up $80 million of revenues, which is now $80 million of revenues in Illinois for 12.5 million bucks.
And more to come, we just did a deal in Massachusetts of under three times EBITDA for a great business, so we just continue to do that.