Jushi Holdings Defies The Marijuana Stock Stigma

Jushi Holdings Inc. (CSE: JUSH) (OTCQX: JUSHF), the multi-state cannabis operator is set to expand its empire with the opening of their 27th dispensary in the United States. Located in the South Side of Pittsburgh, the Beyond / Hello becomes the 17th in Pennsylvania and the third in the Pittsburgh area. Doors are scheduled to open on December 15th at 10:00 a.m., and the announcement further solidifies Jushi as a leader in both the retail cannabis space and the North East.

Jushi Holdings Chairman, Founder and CEO Jim Cacioppo joins The Dales Report today to discuss the expansion, the 117% revenue growth the company saw in its YOY Q3 reports, and the US Government’s slowroll approach to the SAFE Banking Inclusion.

“From my perspective, what we’ve heard in the last month or so, coming out of district attorneys in different states, some legislators like the Republican (Nancy) Mace, and some of the other politicians on the Republican side of the aisle is actually quite positive in the sense that you’re showing a lot of Republican push. So the Democrats may lose control of this issue if they don’t act sooner rather than later.”

Cacioppo acknowledges that he is hypothesizing here, but his tenure in the space gives him a unique perspective to read writing on the wall that many might otherwise overlook. 

“I don’t have a strong perspective. But I feel like they have a crazy amount of pressure building up. And you know, getting it done in the fourth quarter as some of the market expects, I think it’s a little bit of a prayer that you might not hear something between now and the end of the year. But it’s still going to be speculative, even if you hear something.”

“I’m not saying the stocks won’t go up on that. But having said that, nothing happens between now and the end of the year that they don’t have to do because they all want to go home and vacation.”

Shadd changes directions and looks to discuss the impressive financials Jushi released last month. As mentioned earlier, Q3 returns saw a revenue increase of 117% year over year to $54 million in adjusted EBITDA, rising 125% to $6.4 million.

“I would point out that revenue growth of triple digits is mostly all organic. We had 20 days of large acquisition, Nature’s Remedy, not super large, but decent size acquisition in Nature’s Remedy at Massachusetts. 20 days of revenue was less.”

“And then our other acquisitions throughout the year versus small dispensaries, and I think it was meaningless, basically. So when you look at the year over year, growth is primarily organic.”

“So when you compare that to some of the other numbers you’re seeing for other operators, obviously, it’s a very different story. Jushi is growing much faster.”

Jushi closed out 2020 with 13 dispensaries open and operations, and Wednesday’s launch is set to become the brand’s 27th, more than doubling the brick-and-mortar footprint in 12 months alone. Given the strict advertising and marketing limitations put in place by Google and social media platforms, Jushi has managed to maintain an impressive growth rate largely through regional and organic support.

Cacioppo and Dales guide listeners through the legislative and financial world of big cannabis, highlighting a number of topics sure to interest all looking to invest in cannabis. The current political landscape might be somewhat uncertain, but this conversation offers a bit of clarity to those looking to hold onto their marijuana stocks in hopes of federal advances.

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