Who Benefits From Legal Cannabis In New Jersey?
A vote for cannabis bodes well for a company like Curaleaf Holdings Inc. (OTCQX: CURLF), and they should "trade up on the news given market share and sales exposure," the analyst said.
Acreage Holdings Inc. (OTCQX: ACRDF), which has two stores in the state, will also benefit from New Jersey "going rec," he said.
Green Thumb Industries Inc. (OTCQX: GTBIF) would likely add two more stores and "add capacity once there is clarity on the state’s path to rec," Zuanic said.
Cantor doesn't cover TerrAscend Corp. (OTCQX: TRSSF) or Columbia Care Inc. (OTCQX: CCHWF), but both companies have said they plan to operate three stores plus cultivation, the analyst said.
"But of these two, we understand NJ would be a larger % of company sales at TerrAscend."