The Sunshine State produces several high-performing cannabis stocks
Florida is a state nationally recognized for having a very attractive marijuana market. Any company based here definitely has a great advantage of knowledge and experience when it comes to the cannabis industry. The level of competition is enormous, which is why many cannabis firms strive every day to be the best at what they do. This being the case, there is an incredible opportunity for investors to find stocks of companies based in the Sunshine State that are truly worthwhile.
One such company is Trulieve Cannabis, a marijuana company that, over the past few years, has performed extraordinarily well. It has operations in more than ten states and is the company that encompasses most of the cannabis industry in Florida.
Last month, the company unveiled its 115th dispensary in the state, a number that is unlikely to be surpassed by its competitors in the near future. It appears that Massachusetts is one of the states where the company is now also laying the groundwork for future expansion after opening its first dispensary there a time ago.
While Ayr Wellness has less than half as many dispensaries as Trulieve in Florida, the company has made incredible profits from its operations there. Its footprint has been expanded to Illinois after it formalized the purchase of Herbal Remedies Dispensaries. Massachusetts is also a market in Ayr’s sights, especially now that the company has obtained permission to sell adult-use cannabis in dispensaries in that state.
And then there is Cansortium, a company that focuses essentially on high-quality cannabis. The firm now has a presence in states like Pennsylvania, Texas, and Michigan. Having finalized a $90-million loan and stock deal, Cansortium is moving the necessary chips to expand its reach in its home state (where it has 27 dispensaries) and Pennsylvania this year.