Recreational pot is legal in New York. Four factors that could strengthen the cannabis sector
Aneesh Nair | Published July 08, 2021 10:16:25 AM | Industry

Recreational pot is legal in New York. Four factors that could strengthen the cannabis sector

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.

But while the Empire State “going rec” is a seismic moment for the industry, there are still many questions about how this market will evolve.

In assessing the evolution of the New York cannabis market, and thus where investors should be focused, we contemplate four objectives policymakers should adopt to support social and economic success.

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