Will The Big Apple Go Green This Time Around And Legalize Adult Use Cannabis?

New York is one of the largest markets in the world for a variety of industries and cannabis is not expected to be any different…

We believe The Parent Company is an attractive way to be levered to the New York cannabis market and is an opportunity to be aware of. The cannabis firm is backed by global music icon JAY-Z (Shawn Carter) and the Roc Nation Empire and we find this to be significant.

The Parent Company recently said it expects Manhattan’s cannabis market (medical and recreational) to generate more than $1 billion of revenue per year and this is a number that caught our attention.

Although it has taken several years for New York’s cannabis industry to ramp up, we have always been bullish on the long-term opportunity that is associated with it. According to The Parent Company, the Tristate (Connecticut, New Jersey, New York) cannabis market could be a $8.9 billion market opportunity by 2025. This is a region that we have been highly focused on due to the potential value that can be generated for companies that are levered to it and believe our readers need to be aware of the recent developments.

After New York Governor Andrew Cuomo came under fire for the way he treated women that worked in his office, many Democrats have called for his resignation. Although the current situation has caused the market to second guess the potential for legal recreational cannabis in New York, we do not expect Governor Cuomo’s situation to impact this.

In the near future, the state of New York could be surrounded by legal recreational cannabis markets. We believe the trend in the northeast US will play an important role in the legalization of cannabis in New York and consider this to be a major potential catalyst for the entire industry.

Earlier this week, Governor Cuomo announced that New York is very close to legalizing recreational cannabis and said, “I think this [cannabis legalization] should’ve been passed years ago. I think too many people have been imprisoned, incarcerated, and punished. Too many of those people are Black, Latino, and poor. It’s exaggerated the injustice of the justice system.”

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Disclaimer: All information that we provide is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Furthermore, ...

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