Publicly traded multistate cannabis operators generally enjoyed robust third-quarter financial performances, bolstered by sizzling sales growth during the coronavirus pandemic and a focus on state markets that are growing. Moreover, several MSOs – including Cresco Labs, Green Thumb Industries, and Trulieve – actually posted profits, expanding an elite club within an industry where many operators are bleeding red ink. Prospects look promising as well, with many MSOs well-positioned to take advantage of new adult-use markets in the Northeast, Mid-Atlantic, and Southwest regions. “It showed that a lot of companies are turning the corner, realizing the capacity they had built up, realizing consumer demand. We’re watching an industry thrive during a tumultuous time in our country.” Andrew Livingston, director of economics and research for Denver-based cannabis law firm Vicente Sederberg.

Marijuana Business Daily, 11/25/2020 06:30:25

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