Following the recent lawsuits against the Office of Cannabis Management (OCM), New York recently announced the expansion of business licensing for adult-use cannabis on Tuesday. TDR’s Trade To Black podcast looks at the activity in the stock market and dives right into this huge New York news with host Shadd Dales, investor Anthony Varrell, and lead financial writer Benjamin A. Smith.
The news out of New York effectively allows anyone to be able to apply for adult-use retail licenses, not just those with prior convictions. Since adult-use cannabis has been available in March of 2021, those licenses were previously only available to specific nonprofits and individuals impacted by the war on drugs. More to the point, this change allows the current medical MSO operators to apply for adult-use retail licenses in what will be the largest market on the East Coast.
This is very big news for the MSOs, who previously were going to have to wait three years to enter the adult-use market. Benjamin Smith believes that this is a positive move, that the OCM is putting new, good policy into play. Anthony believes that while it’s fair to let “the little guys” have a shot, it shouldn’t come at the expense of tying the hands of larger corporations. Tune into this episode to listen to all our thoughts on which companies are likely to move – or grow – in the New York market.
Additionally, we’ll examine the performance of key companies in the cannabis space, plus more discussions about fallout and opportunities from the potential rescheduling of cannabis from I to III. Is a national supply chain in the near future, the way ones for alcohol and tobacco have been established? The industry is providing a narrowing range for investors. Find out why that is, right here on The Dales Report!