Cannabis, also known as the Marijuana or Hemp plant refers to the dried leaves, flowers, stems, and seeds from the Cannabis sativa or Cannabis indica plant. The marijuana plant contains the mind-altering chemical THC and other similar compounds. Marijuana- also called weed, pot, grass, bud, herb, ganja, or Marry Jane, is a psychoactive drug from the cannabis plant that is used for medical purposes and recreational purposes.
Legalization of Marijuana in New York
US Marijuana companies get a massive opportunity to take over 4 billion worth of market
The state legalized cannabis for adults over the age of 21 On 31 March. Most of the biggest companies by market value like- Cresco Labs, Curaleaf, and Green thumb industries are already in New York and ramp up to serve the new market.
Incumbent cannabis operator in New York
They have two advantages in New York over the new Marijuana-comers: they already have the infrastructure set up somewhat to supply the new marketplace and they will be allowed to both grow and sell cannabis in the recreational market if they choose to.
Analyst at Viridian Capital advisors-
He says that cultivation is a great option for operators with deep pockets and for those with abundant operating experiences who are looking to enter New York.
Operating stores in New York City or other populous parts of the state is also an attractive option for big companies.
Though the firm added that cultivation alone is likably to be more profitable than cannabis retail.
Companies ask about their planes
Some of them say they are still waiting for more regulatory details before jumping in, but emphasized their interest in the state
Some said they did probably enter in the state as a grower.