Florida CANNABIS TRENDS.
In the month of February, Florida recorded ~$141M in medical cannabis sales, which represents a sequential decline of 5.5% and a YoY decline of 4.2%. Unit volumes in the month were down 4.8% sequentially but up 16.3% YoY. The average price per unit was down 0.8% sequentially and down 17.6% YoY. Trulieve has massive exposure to this market.
Oklahoma legalization efforts.
In 2018, Oklahoma legalized cannabis for medical use in the state. In 2022, activists tried to get adult-use cannabis on the November ballot, but legal challenges and deadlines prevented that to happen. But today, Oklahoma is having a special election in which adult-use cannabis legalization will be on the ballot. It is estimated that if passed, adult use cannabis sales will generate north of $400M in tax revenue over the next four years. Republican lawmakers in Oklahoma have been vocal about opposing the measure leading up to the election. “Oklahoma has seen marijuana use skyrocket, hurting our communities and families,” US Sen. James Lankford said last week. “Protect our kids by voting NO on March 7 on State Question 820 to protect our state from a dramatic increase in Marijuana sales.” Last month, Governor Stitt of Oklahoma said last month that he thinks the initiative is a bad idea. Hopefully we will have the results of this election by tonight.
CALL INVITE | CANNABIS SPEAKER CALL W/ Mike Gorenstein, CEO of Cronos
CALL DETAILS:
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Topics to be discussed & THE PATH FORWARD:
- Update on the business reorganization and the decision to maintain some operations at the PEACE NATURALS campus
- "Borderless" brand building in Canada & Israel, including the new flower genetic launch in those countries.
- Understanding the strategy that drove Spinach brand to become Canada's #1 gummy brand. How this strategy may apply to the eventual move into the USA
- The outlook for Gross margins in 2023
- Detailed sum of the parts
If there are questions you would like asked, please send them to
