Of Trulieve's 91 operating dispensaries, as of June 23, 2021, 85 of them were located in Florida. It's delivered 13 consecutive profitable quarters and offers one of the most unique growth strategies. The easiest way for investors to get rich from cannabis is to focus on MSOs that are at or near recurring profitability, as well as those that have clearly defined or unique growth strategies.įor example, Trulieve Cannabis ( TCNNF 0.41%) checks all the appropriate boxes. As long as the federal government allows states to establish their own laws and regulate their own pot industry, multistate operators (MSO) have a very good chance of cashing in on the cannabis boom. With nearly three-quarters of the country now legalized in some capacity, we've hit the point where federal cannabis reform is no longer necessary for marijuana stocks to thrive.

By 2024, Florida is projected to bring in the third-highest annual pot sales in the U.S. Likewise, you'll note that Mississippi no longer appears in this section as a result of its Supreme Court overturning the voter-approved Initiative 65, which legalized access to medical cannabis for select patients.Įven though the customer pool for medical weed is smaller than adult-use cannabis, some states can still be huge moneymakers. Even though residents voted to legalize medical and recreational weed in the November election (via two separate measures), the state's Supreme Court struck down the adult-use weed amendment. Though recreational pot is a no-go, medical access to marijuana is ongoing in these states (listed in alphabetical order):Īrguably the biggest surprise on this list might be South Dakota. Keep in mind that the qualifications for medical cannabis approval can vary by legalized state. In addition to the 18 states that have OK'd recreational marijuana, there are another 18 states that allow physicians to prescribe cannabis to patients. Adult-use pot is illegal in these states, but medical marijuana has a green light Even though consumption was legalized back in July 2018, retail sales aren't expected to begin until October 2022, at the earliest. Still, the wait is even longer for Vermonters.

1, 2024 to buy adult-use cannabis products. Meanwhile, Virginians look like they'll be waiting until Jan. 1, 2022, is the day they'll be given a green-light to purchase recreational weed. However, it could still be a while before sales commence in these states. New Jersey, New York, New Mexico, Virginia, and Connecticut have all signed legislation to make recreational marijuana legal over the past four months. Since the November election, we've witnessed a rash of legalizations. These states are (again, in alphabetical order): While the aforementioned 11 states are raking in the recreational cannabis revenue, seven states are waiting in the wings for their chance to begin ringing the register. These states have OK'd recreational and medical pot, but adult-use sales haven't yet begun

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