Florida’s Medical Marijuana Marketplace Has Strong Potential

08/10/20 12:34PM EDT

Below is a complimentary excerpt from an institutional research note written by our Cannabis analysts Howard Penney and Daniel BiolsiIf you are an institutional investor interested in accessing our research email sales@hedgeye.com

Florida’s Medical Marijuana Marketplace Has Strong Potential  - 8 10 2020 12 31 41 PM

For the week ending August 7th, the number of qualified patients in Florida’s medical marijuana program grew 1.8% WoW or 30% YTD.

The WoW increase to 389,235 qualified patients at 1.8% was the greatest sequential increase in the last 12-months.

THC in mgs sold fell -1.6% WoW to 132.3 million mgs, CBD in mgs sold fell -0.2% WoW to 3.87 million mgs, flower in oz. sold grew 2.0% WoW to 41,197 oz. sold.

Trulieve (TCNNF) continues its market dominance with a 51% share of mgs THC sold, 32% share of mgs CBD sold, and 51% of flower in oz. sold, while holding only ~20% of market share in units, on a 4-week moving average basis.

Florida’s medical marijuana marketplace is still in early stages with strong potential – the state’s medical marijuana program has yet to reach 2% of the population, smokable flower was just introduced to the market last year, and there’s a broad range of qualifying medical conditions, notably ‘severe and chronic pain’.

The rising tide that is patient volume growth lifts all ships.

Florida’s Medical Marijuana Marketplace Has Strong Potential  - lk

Florida’s Medical Marijuana Marketplace Has Strong Potential  - lk1

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