Planet 13’s Orange County SuperStore makes its first sale, Connecticut joins the recreational cannabis club, Mexico decriminalizes weed, and more…
Welcome back to another edition of NICI Snippets!
With the most extravagant cannabis entertainment complex in the world, Planet 13 Holdings Inc. (OTC: PLNHF) is often called the “Disneyland” of the cannabis industry.
And today, this fan-favorite is giving new meaning to its nickname with the epic grand opening of its Orange County, California SuperStore – “P13 OC.”
Only Planet 13’s second location, P13 OC follows the one-of-a-kind business model that made its Las Vegas SuperStore the number one cannabis destination in the world.
It will be massive, at 55,000 square feet, and is strategically located only a short 10-minute drive from the timelessly popular tourist attraction that coined its nickname – Disneyland.
Next week, NICI Membership subscribers will be receiving a comprehensive dossier all about Planet 13, so make sure you keep an eye on your inbox. If you’re not yet a subscriber, you’re free to learn how to join and gain access to that report (and much more) right here.
But that’s not the only news we need to cover before the holiday weekend.
NICI Snippets Week of July 1, 2021
- Connecticut Joins the Club: On June 22, Connecticut became the 19th state to make recreational cannabis sales legal for adults 21 and older. Early projections suggest Connecticut’s combined cannabis market could generate as much as $600 million by 2023, and there to rake in the sales with existing operations will be two familiar names: Curaleaf Holdings Inc. (OTC: CURLF) and Green Thumb Industries (OTC: GTBIF). Just in the first six months of this year, we’ve seen a record number of states pass major cannabis reform measures. Arizona, New Jersey, New Mexico, New York, Virginia, even “red” states like South Dakota and Montana…they see the $8 billion in tax revenues that have been generated from recreational sales alone since 2014 (that number doesn’t even count local tax revenues, taxes from medical cannabis sales, or licensing fees paid by cannabis businesses, according to Marijuana Policy Project) and they want a piece. We’ll be watching closely as Rhode Island and Pennsylvania advance their own adult-use legalization measures this year.
- A New Global Leader in Cannabis: Recreational cannabis has been officially decriminalized in Mexico after its Supreme Court declared cannabis prohibition unconstitutional this week. The ruling has been a long time coming, since 2018, when the court first pushed this policy change forward. Mexican lawmakers still need to create a legal framework for a fully legal cannabis market, but this is a giant leap in the right direction – and exactly the kind of big reform we need in the United States. Now that our neighbors to the north and south can claim legal nationwide cannabis markets, the pressure is on in the U.S.
- Welcome to the Psychedelics Revolution: Earlier this month, the well-known multistate operator (MSO) Vireo Health International took on a new name and stock ticker: Goodness Growth Holdings Inc. (OTC: GDNSF). While a rebrand is always a newsworthy move, the reason behind the name change was what really caught our attention – it will be entering the emerging legal psychedelics industry. That’s right. I’m talking about hallucinogenic drugs like MDMA and psilocybin (“magic mushrooms”), which, much like cannabis, are now being discovered to have vast healing properties when it comes to mental health disorders. Goodness Growth is headed up by a physician, Dr. Kyle Kingsley, so it makes sense that it would be a trailblazer in this new frontier of medicine. While it happened relatively quietly, the psychedelics revolution has already birthed a $60 million industry. And Goodness Growth is ready to tap into that profit potential.
- Cannabis Gets Another Women-Led Startup: Some of the most innovative startups I’ve come across in this industry are led by brilliant women. House of Wise is no exception. Named after the creator of the Tupperware party, Brownie Wise, this startup gives everyday folks a chance to cash in on the CBD craze – meaning that you can earn money by becoming a “Wise Woman” entrepreneur yourself. CEO Amanda Goetz just raised $2 million in seed money from noteworthy angel investors such as National Basketball Association (NBA) star Baron Davis and Fabletics co-founder Jack McCue. In a world where less than 3% of venture capital dollars go to female founders, House of Wise’s success is particularly encouraging. And I can’t wait to see where the company goes from here.
To your investing success,
Partner, RADD Capital
July 01 2021