 Well it’s a day late for 4/20, but New Jersey Cannabis Fans will finally get their weed.
This week, on Thursday, April 21st, adult use dispensaries will finally be open for legal recreational sales in New Jersey. The state’s Cannabis Regulatory Commission issued an update on the status of the long awaited opening. They announced that on 4-21, select existing medical dispensaries will also be able to begin selling cannabis products to any adults, no longer just those with medical license. There are currently 23 medical dispensaries in New Jersey, but only 13 of those will be open for adult use sales on the 21st. A list of those locations will be posted on the Commission’s website soon. And while we don’t know yet which dispensaries will be the ones for adult use sales, we do know which companies they are. Of the 13 dispensaries that will be selling to the adult use market, there are seven different owners, and all are all multi-state operators, meaning they have cannabis businesses in more than one state. The seven companies are (along with their stock symbol): • Acreage CCF New Jersey (ACRHF) • Curaleaf (CURLF) • Columbia Care (CCHWF) - Recently Aquired by Cresco Labs (CRLBF) • Verano (VERNOF) • Green Thumb Industries of New Jersey (GTBIF) • Ascend Wellness New Jersey (AAWH) • TerrAscend (TRSSF) Each of these companies are on the stock market, and will definitely be something to keep an eye on. Green Entrepeneur has tapped three of them in particular as stocks to watch this week: Ascend, Curaleaf, and Green Thumb. As for the long delay New Jersey has had from the point of passing legislation to this final point of opening stores, it is because the state wanted to make sure they were taking all preparation needed to ensure that social equity guidelines were met. New Jersey Cannabis Regulatory Commission executive director Jeff Brown said, “I am very proud of the work the Commission has done over the past year to open the market. We have been intentional and deliberate to do everything in our power to set the market on good footing to start.” Governor Phil Murphy tweeted his support, saying, “This is a historic step in our work to create a new cannabis industry.” In addition to the opening date announcement, the state showed even more of their positive attitude towards cannabis when the state Attorney General’s office said that off duty law enforcement officers will also be allowed to partake in cannabis. The acting Attorney General, Matthew Platkin, issued a memo clarifying that New Jersey police who legally buy or use marijuana on their own time cannot be penalized. The memo (which was first reported by The Asbury Park Press) makes clear that there is, “zero tolerance for cannabis use, possession, or intoxication while” on duty. So great job, New Jersey, ... and enjoy!! Comments are closed.
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