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š„ The New York Cannabis Industry Is Starting To Catch Fire š„
Anthony Varrell
October 17, 2024
GM Everyone,
āThe growing popularity of cannabis products among people with cancer has tracked with the increasing number of states that have legalized cannabis for medical use,ā it continues. āBut research has lagged on whether and which cannabis products are a safe or effective way to help with cancer-related symptoms and treatment-related side effects.ā
Thats the intro today. Reschedule. The. Plant. and then some.
Todayās letter can be read in 6 minutes and 52 seconds.
šø High Impact
The New York Market Is Hitting Its Stride
New York's cannabis market is soaring higher than a Wall Street analyst after packing some Zyns. In the latest twist of economic fortunes, the Empire State is proving that green isn't just the color of moneyāit's also the hue of opportunity in the burgeoning cannabis industry. According to recent data, legal cannabis sales in New York have reached an impressive $250 million in the third quarter of 2024, marking a staggering 54% sequential growth and a jaw-dropping 357% increase from the previous year.
So, what's fueling this green rush? For starters, the state authorities have finally started weeding out illicit market activities, making room for legal operators to flourish. The New York State Cannabis Advisory Board's crackdown has not only improved market conditions but also boosted consumer confidenceābecause let's face it, no one wants their purchase to feel like a clandestine operation.
Dispensaries are sprouting up like mushrooms after a rainstorm, catering to a diverse and eager customer base. From the casual consumer seeking a mellow evening to the connoisseur hunting for the latest strain, the market is ripe with possibilities. Companies are taking note, too. Firms like RIV Capital are partnering with distribution giants like Nabis to expand their footprint, introducing new brands like MOODS Cannabis to satisfy the state's elevated tastes.
But it's not just about the present; the future looks equally promising. With the market projected to continue its upward trajectory, investors are eyeing New York as the next big thing in cannabis. Regulatory support is strengthening, and the stateās commitment to fostering a robust legal market is becoming evident. The potential for growth is as palpable as the aroma wafting from a freshly opened jar of premium bud.
In summary, New York's cannabis market is not just alive and kickingāit's thriving. As the state continues to pave the way for legal operations while snuffing out the black market. For investors and businesses alike, it's high time to consider New York a key player in the cannabis industry. After all, if you can make it there, you can make it anywhere.
š Dog Walkers
SNDL Has Approval From Nova Shareholders
Nova Cannabis Inc. (TSX: NOVC) is lighting up the market with some big news: shareholders have overwhelmingly approved a plan to be acquired by SNDL Inc. In a special meeting that saw a whopping 86.67% turnout, 99.95% voted in favor of the arrangementātalk about a landslide! Shareholders can choose either $1.75 in cash or 0.58 of a SNDL share for each Nova share they hold, though proration applies. With court approval expected on October 17 and the deal closing around October 18, Nova's shares are set to disappear from the TSX faster than you can say "green rush." Looks like Nova's investors decided it's high time to merge, opting for growth over going solo in this budding industry.
$NLCP To Report On 11/14
NewLake Capital Partners (OTCQX: NLCP) is rolling out the green carpet for its third-quarter earnings call on November 14, 2024. As the go-to landlord for state-licensed cannabis operators, they're set to reveal whether their real estate investments are as high-yielding as their tenants' crops. Investors can dial in or catch the webcast to see if profits are growing like weeds. Missed the live show? Don't worryāa replay is available until November 28. Time to see if NewLake is keeping their portfolio in the green!
Riv Inks Partnership With Nabis
RIV Capital Inc. (CSE: RIV) is rolling up its sleevesāand perhaps a few other thingsāas it partners with Nabis to blaze a trail through New York's burgeoning cannabis market. Leveraging Nabis's distribution wizardry, servicing over 300 brands nationwide, RIV Capital aims to expand its wholesale network faster than you can say "green rush." With New York's legal cannabis sales hitting a high of $250 million in Q3 2024āa staggering 357% uptick from last yearāthe timing couldn't be better. Their new MOODS Cannabis line promises to lift spirits (literally), offering effects from "happy and uplifted" to "sleepy and mellow." It's a joint venture poised to light up the Empire State's dispensaries and bottom lines alike.
š¾ Number Of The Day
456,959 Number of 100mg edilbed packs sold in Missouri in September.
Data provided by:
šļø The News
šŗ YouTube
Marijuana News: Why Kamala Harris Blames the DEA For Delay | Trade to Black
What we covered:
ā On our latest Trade To Black Podcast at 4pm EST, both Anthony & Shadd discuss latest news from Kamala Harris and why she's blaming bureaucrats like the DEA for the delay in cannabis legalization.
Harris, briefly addressed the rescheduling process during a town hall hosted by Charlamagne tha God of the radio show The Breakfast Club, stating that it's the DEA was the root cause of "slowing things down."
Plus we review latest numbers out of Michigan for the month of September and why the states cannabis sales were down 10% from August 2024.
Christine Apple, CEO & Founder of edible category leader GRĆN also joins us to talk about industry trends related to edibles, plus the emergence of hemp and the impact it will have on the sector across the country.