AAWH - New Jersey recreational marijuana a hit with $24M in sales in first month

Sales of recreational cannabis reached ~$24.2M in New Jersey in the first month of dispensary transactions (April 21-May 21). In the first three days alone, the Garden State saw more than $3.5M in sales. Overall, there were 212,433 adult-use cannabis transactions at dispensaries, the New Jersey Cannabis Regulatory Commission reported. On Tuesday, the commission also approved applications for 11 new retailers to operate recreational dispensaries in the state. Publicly traded multi-state operators that are or plan to engage in adult-use marijuana sales in New Jersey: Curaleaf (OTCPK:CURLF); Acreage Holdings (OTCQX:ACRDF); Verano Holdings (OTCQX:VRNOF); Ascend Wellness Holdings (OTCQX:AAWH); TerrAscend (OTCQX:TRSSF); and Green Thumb Industries (OTCQX:GTBIF). Green Thumb (OTCQX:GTBIF), which operates two adult-use dispensaries in New Jersey under the RISE brand, is cheap right now making it a strong buy, according to Seeking Alpha contributor Stone Fox Capital.

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New Jersey recreational marijuana a hit with $24M in sales in first month