As you might expect, several marijuana stocks with operations in New Jersey felt the sting of the delayed vote on legalizing recreational pot. Most of these stocks with New Jersey connections have flown under the radar for many investors, though.
Shares of Curaleaf Holdings (NASDAQOTH:CURLF) sank 5% on Monday. Curaleaf operates only one dispensary in New Jersey, however. Some of the stock's pullback could have been related to profit-taking after Curaleaf soared last week on news that giant pharmacy retailer CVS Health was selling its hemp-based cannabidiol (CBD) products.
Green Thumb Industries (NASDAQOTH:GTBIF) stock fell close to 5% after the delayed vote in New Jersey. The Illinois-based cannabis company doesn't have operations in New Jersey yet but plans to open a cultivation center and retail store in Paterson, New Jersey, in the near future.
MariMed (NASDAQOTH:MRMD) stock also fell nearly 3% on Monday. The company doesn't operate facilities in New Jersey. However, in October MariMed acquired New Jersey-based cannabis consulting company BSC Group. MariMed indicated at the time that New Jersey was "one of the markets being eyed" for further expansion because of the potential for the state to legalize recreational pot.
Shares of Canadian marijuana grower Terrascend (NASDAQOTH:TRSSF) slipped more than 2% on Monday. In December, the company won a permit to apply for a vertically integrated license including cultivation, processing, and retail operations in New Jersey.
One stock with direct ties to New Jersey didn't decline following the delayed legalization vote. Acreage Holdings (NASDAQOTH:ACRGF) operates one dispensary in New Jersey. Its shares were up nearly 3% on Monday.