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Gearing Up For New York

D. H. Taylor
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Joined: 1 year ago
Posts: 305
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I got an email and I thought I would repost my response here so that others may benefit from this.  The individual was asking about Columbia Care versus Cresco Labs going in to New York.  I think these are conservative but, will do well.  

Here is my response via email:

Cresco Labs, Columbia Care, & NY
Both of these companies are conservative and will likely do well.  But, neither is my top pick.  They will be outperformed by other companies.  Keep in mind that all of these companies are going to be in all of the states at some point.  Thing with New York is that it’s odd to me that they legalized cannabis and it appears that the rules/laws are restrictive in many ways.  I wouldn’t not be rushing to get into that state, myself.  (I am curious about what Texas might do, though).  
Any of the bigger companies not in New York already are lining up the process along with every other state they are not in.  There are about 18 states now legal for adult use.  No company is in all but, all will be one way or another (There is likely to be a lot of M&A activity making this happen - we just saw Trulieve buy Harvest Health and TerrAscend is acquiring Gage).  
I would not be looking at companies lining up in any one state as much as I would be looking at all companies as an investment now for a long term holding, and how they are performing companies today in the markets they are already in.  Once these companies start moving in to New York, the better will likely outperform the underdogs.  
What are your thoughts on New York?


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