By Timothy Seymour and Jeff Schultz
Cannabis industry investors have been treated to a series of legislative catalysts over the last three years that have moved equity valuations.
Notable moments include Canada’s federal adult-use implementation, the election of President Joe Biden, and the Georgia Senate run-off in January. Additionally, the state-by-state legalization movement is driving significant growth of the total addressable market, specifically in jurisdictions where single state and multi-state operators are well positioned to capture these new markets as they roll out.
Aside from California, no other state has generated more excitement over the rollout of its adult-use market than New York. In cannabis, it is said that brands are created in California, but they are most likely established in New York, especially as the industry moves out of the illicit market and into the mainstream.