Curaleaf, move over. There’s a new competitor for the cannabis industry’s top spot…
I’m back for another round of NICI Snippets, your roundup of the biggest developments pushing the market forward so you can get caught up on everything in less than five minutes!
This week, I’ve got major developments for you about the biggest cannabis merger deal ever: Trulieve Cannabis Corp.‘s (OTC: TCNNF) massive Harvest Health and Recreation acquisition. Together, these two industry giants could form the top-earning cannabis company in the world.
That’s not all…
Recreational cannabis sales in New York are finally on the fast-track to kicking off after some major developments, which I’ll share with you in just a moment so you can get ready to profit from the state’s top players.
I’ll also share a new video report about the fate of the SAFE Banking Act, which is a catalyst for stock prices to start flying. (Yes, it keeps getting approved by the House of Representatives only to die in the Senate – but this time, lawmakers wised up to a sneaky way to get it through.)
NICI Snippets: Week of October 13, 2021
- Trulieve Closes Its Blockbuster Acquisition Deal of Harvest Health and Recreation: Trulieve could soon be the largest cannabis company in the United States by revenue after closing its $2.1 billion acquisition of Harvest Health and Recreation on October 1. The combined company is in a race with fellow industry giant Curaleaf Holdings Inc. (OTC: CURLF) to claim the top spot as the highest-earning multistate operator (MSO). With the assets it gained from Harvest, Trulieve now holds the keys to an additional 31 dispensaries nationwide increasing its total count to 149 storefronts in 11 states. And the new Trulieve is expected to produce $1.2 billion in 2021. Here’s everything you need to know.
- Finally…Progress in New York: After legalizing recreational cannabis in March, lawmakers have finally begun developing regulations for New York’s recreational cannabis program. The state also began selling cannabis flower to existing medical cannabis patients who were previously restricted to edibles and extracts. Despite its slow start, New York’s recreational cannabis is expected to become the largest cannabis market on the East Coast, with projections valuing it at $5.8 billion by 2026. To cash in on the opportunity in New York, make sure you own its top cannabis player right here.
- The House Is Backing the Senate Into a Corner to Pass the SAFE Banking Act: Just a few weeks ago, the House of Representatives again passed the Secure and Fair Enforcement (SAFE) Banking Act, which would provide cannabis companies access to banking services and could help speed up companies listing on the Nasdaq and New York Stock Exchange (NYSE). Though the House has passed this bill before, it typically dies in the Senate. But this time, lawmakers wised up with a backdoor strategy that means any senator who wants to vote against the SAFE Banking Act will have to vote against funding the entire U.S. military. Click here to watch my full analysis on the House’s backdoor strategy to pass the SAFE Banking Act, and just how likely it is to work.
- U.S. Senators Urge Department of Justice to Decriminalize Cannabis: U.S. Sens. Cory Booker (D-NJ) and Elizabeth Warren (D-MA) urged the Justice Department to strip cannabis of its Schedule I status citing reform promises that President Joe Biden made on the campaign trail. This speaks to the mounting pressure from major players in the Senate on the Biden Administration to act on cannabis reform. Plus, we’re still waiting on an update about Sen. Chuck Schumer‘s (D-NY) comprehensive cannabis reform bill which wrapped up its comment period last month. For Advisory Board member Charlie Delvalle‘s honest take on this bill and whether it stands a chance of making it to the finish line, check this out.
Before I go, did you see my interview with Jushi Holdings Inc. (OTC: JUSHF) CEO Jim Cacioppo? We dove into all the details of his company’s exceptional growth over the past year so you can understand why I’m so confident in this company’s ability to make you money in the future.
To your investing success,
Executive Director, National Institute for Cannabis Investors
October 13 2021