The company is known as “Altria”

The cannabis market, valued at $50 billion, is on the verge of an explosion. Just last week, Canopy Growth reported that it will be the first publicly traded cannabis company in the world with a market cap over $1 billion. Over the next few months, there will be more and more companies that will be joining the billion dollar club. The first to do so will be New York-based Cronos Group, which will be heading into the $1.1 billion cannabis market.

Cannabis is the most commonly used illicit drug in the world, and New York City is on the cutting edge of that trend.. Read more about cbd stocks to watch and let us know what you think.

A fresh cannabis IPO is on the horizon. This business is set to go public, which means investors will have a great chance.

This business is not just one of the biggest in the United States, but it has also received a $110 million investment from a Canadian cannabis behemoth.

This business filed papers to go public this autumn, and if all goes according to plan, it might be one of the most exciting cannabis industry events of the year.

Pharmacann, based in Chicago, Illinois, was established in 2014. With 23 dispensaries and four growing sites, the business now operates in six states.

  • Illinois has eight dispensaries and one growing center.
  • New York has four dispensaries and one growing center.
  • Three dispensaries and one growing facility are located in Massachusetts.
  • Three dispensaries and one growing facility are located in Ohio.
  • There are four dispensaries in Maryland.
  • There are four dispensaries in Pennsylvania.

Pharmacann is a wide bet on the fast-growing cannabis sector in the United States. However, a closer examination reveals that this is also a bet on one of the industry’s most promising new cannabis markets.

New York just become the 16th state in the United States to legalize recreational marijuana. Analysts anticipate New York, as one of the biggest states in the United States, will rapidly develop into one of the world’s largest cannabis marketplaces.

According to New Frontier Data, a cannabis industry research company, New York will produce $3.7 billion in yearly cannabis sales by 2025. This would make New York the United States’ second-largest cannabis market, behind California. Pharmacann is well positioned to benefit from New York’s legalization.

Despite the state’s large population, the state only has 36 medicinal cannabis shops. This exclusive group of medicinal cannabis licence holders, which includes Pharmacann, will be among the first to obtain recreational cannabis sales licenses.

Pharmacann presently operates four medicinal marijuana shops and one growing site in New York. Pharmacann is expected to be one of the first businesses to get a licence to sell recreational cannabis in 2022, thanks to its current licenses and infrastructure.

Cronos Group has just made a $110 million investment in Pharmacann.

Cronos Group, Canada’s largest cannabis business, took notice of the startup (NASDAQ: CRON).

Cronos paid $110 million for a 10.5 percent interest in Pharmacann in June 2021. In the near term, the agreement provides Pharmacann with $110 million to spend in further expansion. In the long term, it provides Pharmacann with a strong ally who may be able to assist the business in expanding into new markets in Canada, Europe, and South America.

Pharmacann has just filed the necessary paperwork to go public in the fall.

While Cornos may have had the first go at it, investors like you and me will soon be able to purchase shares. Pharmacann has recently filed for an IPO. Reuters has some more information.

PharmaCann, one of New York’s ten original cannabis licensees, has filed for an initial public offering (IPO) that could value it at well over $1 billion, according to people familiar with the issue.

The proposed IPO would help PharmaCann generate money before recreational marijuana sales begin in New York state next year, which is scheduled to happen sometime next year. According to one of the sources, the IPO might happen this autumn.

According to one of the individuals, PharmaCann, which operates in five additional US states, is expected to attempt to dual-list its shares on the Canadian Securities Exchange and for over-the-counter trading in the US.

A Bigger Picture

Pharmacann is one of the biggest cannabis businesses in the United States, and its stock represents a bet on New York legalizing marijuana in 2022.

Cronos Group just invested $110 million in the business, and it will get another big infusion of capital if it goes public this autumn. In the next months, this is a business to keep an eye on, and I’ll keep you updated on the progress of the possible IPO.


About the Author & Cannabis Stock Trades

Michael Vodicka is a stock analyst with over 20 years of trading and investment expertise. His work has been published in some of the industry’s most prestigious journals. Since 2013, he has been investing and guiding investors in the cannabis industry.

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Members of Cannabis Stock Trades benefit from Mr. Vodicka’s knowledge and advice.

Join Cannabis Stock Trades for unique research, trade alerts, and a model portfolio from Mr. Vodicka.

This article broadly covered the following related topics:

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  • new york dispensary license
  • fiorello pharmaceuticals stock
  • new york canna inc
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