New York state will be one of the biggest marijuana industry growth opportunities in 2020.
The state failed to finalize legalization of recreational use marijuana in 2019 before the legislative session closed, but it will be a high priority in 2020.
Until then there’s a chance to move into the state’s legal medicinal marijuana market before the explosive growth of recreational use legalization hits.
Green Thumb Industries (CAN:GTII / US:GTBIF) is one of the marijuana companies moving into New York’s nascent marijuana industry.
Green Thumb announced today it has closed on its latest acquisition of Fiorello Pharmaceuticals.
Fiorello is one of only ten license holders to cultivate marijuana in the state of New York.
It also has a few dispensaries in prime population centers in Manhattan, Rochester, and Long Island.
This acquisition put Green Thumb in prime position to tap into one of the largest legal marijuana markets in America.
The Seed Investor has covered the emerging opportunity in New York marijuana back when recreational use was on the verge of legalization.
The only reason we’ve covered the emerging opportunity in New York marijuana is because it is huge.
Along with Florida, New York represents one of the few remaining high population states holding out on legalizing marijuana for recreational use.
With nearly 20 million residents and millions of touriest, New York’s recreational use marijuana market will be easily worth billions of dollars.
The early movers into the state in pre-legalization will be in position for rapid growth when recreational use legalization goes through.
And Green Thumb will likely be one of the best stocks to buy when New York’s legislature comes back into session in 2020 and investors start piling into the best New York marijuana stocks to buy for legalization.