You’re reading a copy of this week’s edition of the New Cannabis Ventures weekly newsletter, which we have been publishing since October 2015.
The opening of adult-use sales in New Jersey, which could happen as early as May, is one of the big catalysts for 2022 that we have previously discussed.
This week, we learned that New York, which had been expected to launch in 2023, may also launch later this year, which adds to the positive dynamic we envisioned.
While we are excited about the pending launch in New Jersey, there will be only a limited number of dispensaries open initially, perhaps 15, which suggests a slow start.
Thus, the current medical-cannabis operators may be temporarily disadvantaged by having to delay their store openings, but they will benefit immensely from being able to supply stores immediately and from having a strong launch.
While future participants in the market will be limited to three adult-use stores the incumbents can have three adult-use as well as up to five medical-only stores.
We view this week’s news as very encouraging, as the launch in New York is likely to be much more robust than we have seen in other states that have legalized for adult-use.
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