TCNNF - Gov. Rescheduling Suggestion Lights Up Florida's Cannabis Consolidation: Planet 13 & VidaCann In Spotlight | Benzinga
Planet 13 Holdings Inc. (OTC: PLNHF) (OTC: PLTH) is aiming to acquire VidaCann, which operates 26 dispensaries and holds the ninth-largest retail network in Florida.
While recreational legalization is the anticipated catalyst for further market growth, Florida's medical marijuana market is already substantial, surpassing $1.4 billion, with strong volume growth exceeding 30%, and stabilizing prices after a period of deflation.
The latest report by Zuanic & Associates (Z&A) on the Florida market highlights that the recent increase in stock prices, driven by the HHS rescheduling news, indicates a looming wave of consolidation in the cannabis market.
"With stock prices up (...) we would expect more consolidation. Planet 13 announced plans to buy VidaCann (the 9th largest retail network in the state, with 26 stores(...). In terms of a retail network with ~20 stores, the only independent operators would be now Cansortium (33 stores) and Green Dragon (33),” 's Z&APablo Zuanic wrote in his latest report.
Join us at the Benzinga Cannabis Capital Conference in Chicago on September 27-28 and meet Pablo Zuanic for exclusive insights into his 2024 stock market perspective!
Planet 13's Strategic Acquisition of VidaCann
"We anticipate more ...