When it comes to marijuana market sizing, the United States population is nearly 8x larger than Canada‘s. This has led many investors to the thesis that the companies that end up dominating the U.S. domestic market will become far larger and more valuable than many of the largest Canadian licensed producers are today.
Canopy Growth Corp. (NYSE:CGC) (TSX:WEED) recently upheld that investment thesis as it signed a deal to buy multi-state operator Acreage Holdings, Inc. (CSE:ACRG.U) (OTC:ACRGF) for $3.4 billion – contingent upon cannabis legalization in the United States.
At this point, legalization in the United States is just a matter of when not if. As long as U.S. legalization occurs sometime within the deal’s 90-month expiry window, which is a “high likelihood” according to GMP Securities analyst Martin Landry, then Canopy will already have a seat at the table reserved.
Until that happens, every single multi-state operator is fighting state-by-state to gain presence and market share.
What is a Multi-State Operator?
Surprisingly, out of over 200 different marijuana stocks, only about a dozen of them have made it their mission to take over the United States cannabis market state by state.
While there are a handful of publicly-traded cannabis companies that have operations in one U.S. state, multi-state operators are the rising behemoths that may be selling marijuana products in every single state one day, just like McDonald’s Corp. (NYSE:MCD) does fries and burgers.
Today’s Biggest Multi-State Marijuana Stock Movers
Three of these multi-state marijuana companies happened to be on the move in the markets today, so without further ado, here’s 3 of today’s biggest multi-state marijuana stock movers on Friday, April 26, 2019 (in alphabetical order):
Today, shares of Cresco Labs Inc. (CSE:CL) (OTC:CRLBF) were up approximately 1.72% on the CSE, closing the day at C$17.75 per share. On the OTC markets, shares of Cresco were up approximately 2.09%, having last traded at $13.21 per share on higher than average trading volume. Presumably, shares of Cresco were up today due to a recent buy rating and bullish price target from GMP Securities.
Also, shares of Green Thumb Industries Inc. (CSE:GTII) (OTC:GTBIF) were up approximately 0.39% on the CSE, closing the day at C$20.50 per share. On the OTC markets, shares of Green Thumb were up approximately 0.13%, having last traded at $15.22 per share on lower than average trading volume. Presumably, shares of Green Thumb were up today due to this morning’s announcement that the company would open its second dispensary in Florida.
Last but not least, shares of Vireo Health International, Inc. (CSE:CREO) (OTC:VREOF) were up approximately 6.93% on the CSE, closing the day at C$5.40 per share. On the OTC markets, shares of Vireo were up approximately 3.91%, having last traded at $3.90 per share on lower than average trading volume. Presumably, shares of Vireo were up today due to the fact that the company is set to report earnings for the fourth quarter and full year ended December 31st, 2018 in just a few days. Also, Vireo’s patent application for tobacco products infused with cannabinoids was just recently approved by the USPTO.
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