As reported in the New York Times this weekend, the big Canadian producers like Aurora Cannabis Inc (NYSE:ACB), Canopy Growth Corp (NASDAQ:CGC), and OrganiGram Holdings Inc (NASDAQ:OGI) are suffering longer than expected in terms of profitability following the country’s nationwide legalization move for recreational use several years ago.
Canopy Growth, for example, the Canada’s largest producer, lost 1.2 billion Canadian dollars, or about $950 million, in the first nine months of its current operating year.
That said, long-term analysis shows a remarkably constructive path forward for the industry as a whole, particularly in the US market, where demand will far outstretch that found in Canada over the long haul.
Cresco to Buy Massachusetts Cannabis Operator Cultivate for $90 Million With Additional Potential Earnout – New Cannabis Ventures
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February 16, 2021 at 7:59 am Published by NCV Newswire
Cresco Labs Closes Acquisition of Verdant Creations’ Four Dispensaries, Reaches Maximum Retail Licenses in Ohio
CHICAGO, February 16, 2021–(BUSINESS WIRE)–Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or “the Company”), one of the largest vertically integrated, multistate cannabis operators in the United States, announced today the closing of its acquisition of Verdant Creations dispensaries in Cincinnati, Chillicothe, Newark and Marion, Ohio (collectively “Verdant”). These acquisitions give Cresco four additional dispensaries, bringing the Company’s dispensary presence in Ohio to five – the maximum allowed by the state.
The Verdant acquisition is aligned with Cresco’s strategy of building meaningful, material market positions in the states that matter most. As the seventh most populated state in the U.S., Ohio has a registered medical patient count that more than doubled in 2020 from roughly
Cresco Labs Closes Acquisition of Verdant Creations Four Dispensaries, Reaches Maximum Retail Licenses in Ohio Cresco Labs (CSE:CL) (OTCQX:CRLBF) ( Cresco or the Company ), one of the largest vertically integrated, multistate cannabis operators in the United States, announced today the closing of its acquisition of Verdant Creations dispensaries in Cincinnati, Chillicothe, Newark and Marion, Ohio (collectively Verdant ). These acquisitions give Cresco four additional dispensaries, bringing the Company s dispensary presence in Ohio to five the maximum allowed by the state.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210216005380/en/
Cresco Labs closed on its acquisition of four Verdant Creations dispensaries, expanding its dispensary presence in Ohio to five operating stores. (Photo: Business Wire)
Skeptics might say, “this is just a commodity market!”
But the reality that appears to be coming together is that it is a consumer packaged goods market with vertical supply chains bound by regulatory firewalls, allowing for protected value in a healthy competitive context. Wrap that story up in the narrative of politically favorable winds in terms of further legalization steps ahead, and the sky is apparently the limit.
That framework has captured the imagination of Wall Street Analysts and Retail investors alike.
With that in mind, we take a look at a few of the more interesting names in the cannabis patch, including: Cresco Labs Inc (OTCMKTS:CRLBF), MedX Holdings Inc (OTCMKTS:MEDH), and Sundial Growers Inc (NASDAQ:SNDL).
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