Ascend Wellness Holdings
Marijuana MSOs report stellar financials; megamergers could heat up
U.S. marijuana multistate operators reported banner revenue growth in the first three months of this year, boosted by good execution and strong consumer demand in established and newer markets.
Many reported double-digit revenue growth in the first quarter of 2021 versus the fourth quarter of 2020 and, in several cases, staggering year-over-year growth.
Gross profit margins improved for most MSOs, ranging from Illinois-based operators Green Thumb Industries and Cresco Labs to smaller operators like TerrAscend and Ascend Wellness.
But not all MSOs are doing well.
Spirits High After Launch of Rochelle Park Medical Marijuana Facility
The Ascend dispensary is a 6,000-sqaure-foot facility situated next to a storage facility in a well-kept retail strip with ample parking. The location, Ascend says, is "one of the most highly-trafficked corridors in the country, seeing over 100,000 vehicles per day on average."
For patients, the location "offers access to a wide selection of high-quality products across flower, pre-rolls, vapes, ingestibles and topicals."
Ascend Wellness Opens Second New Jersey Dispensary
Ascend Wellness Holdings (AWH) opened a medical-use dispensary in Rochelle Park, New Jersey.
The dispensary is AWH's second in the state, and the first cannabis dispensary in Rochelle Park, according to the company. AWH's other in-state dispensary is located in Montclair, New Jersey.
AWH's dispensary in Rochelle Park will offer patients flower, pre-rolls, ingestibles, topicals and vapes. The dispensary will employ 65 staff and will immediately begin accepting new patients, the company says.
New Montclair dispensary opens at site of NJ's first medical marijuana shop
The first medical marijuana dispensary in the state, formerly Greenleaf Compassion Center, has reopened as Ascend, which is owned by multi-state cannabis operator Ascend Wellness Holdings.
Ascend officials said the redesigned dispensary has an expanded line of cannabis products and will be open for longer hours on more days of the week.
"The feedback from the original owner is that the product line was always lean; patients couldn't always get what they wanted," said CEO and founder Abner Kurtain.
2 Pot Dispensaries In Montclair? Bob Marley's Son Wants Permit
Rohan Marley, the son of reggae legend and cannabis advocate Bob Marley, is still trying to bring a new marijuana dispensary to Montclair. And if the state grants a pending application for Marley and his business partners, the former Essex County resident says they can be selling cannabis within three months.
Here's all the NJ medical marijuana dispensaries open in 2020
New Jersey officially has more than a dozen medical marijuana dispensaries open, while the state continues to craft legislation to expand to recreational pot sales, too, as approved by state voters this fall.
The Apothecarium Dispensary in Phillipsburg is the first such facility in Warren County and the first New Jersey location for Canadian-based TerrAscend, which also has dispensaries in Pennsylvania, California and Nevada.
Weed Wars In Hoboken: Which Marijuana Dispensary Will Open First?
A Secaucus-based company called Harmony Dispensary expects to open a marijuana dispensary near the Hoboken train station by the end of the calendar year, but two other companies hope to come to that area as well — and now, one is suing the other.
Law 360 reported on Sept. 24 that Terrapin, a cannabis company that also wants to open a dispensary near the train station, is accusing Harmony of "bypassing New Jersey's vetting process" and wants Harmony's approval reconsidered.
Another cannabis company announces plans for a dispensary in Hoboken
The Mile Square City could soon become New Jersey’s Mile High City.
With the legal recreational marijuana on New Jersey’s ballot in November, cannabis companies are rushing to secure places in Hoboken. Colorado-based medical marijuana company Terrapin is the latest company to go public with plans to open a Hoboken dispensary, announcing the move in a Wednesday press release.
New Jersey Medical Cannabis Market Will Provide Opportunity to Publicly Traded Companies
Existing Market
Publicly traded multi-state operators (MSOs) play a big role aleready in the New Jersey medical cannabis market. Last month, the state added 2 permits, bringing the total number of Alternative Treatment Centers to 11 with the additions of Zen Leaf (Verano New Jersey) in Elizabeth and Columbia Care (NEO: CCHW) (CSE: CCHW) (OTC: CCHWF) in Vineland.
The other nine centers include:
New Jersey's Finest Kratom - Christopher's Organic Botanicals
Veriheal Other State Links
get your FL Office of Medical Marijuana Use card!
get your MD Medical Cannabis Commission card!