Boston Cannabis Supermarket Open
Ascend Wellness, a private MSO set to go public, will open a 16,000 sq. Ft. dispensary in Boston, MA. This "Supermarket" will be located across from North Station and TD Garden, a prime location. The only other dispensary license in the actual city of Boston is Patriot Care Corp, owned by Columbia Care CCHWF. This dispensary is 6,200 sq. Ft. and will face significant competition from the opening of Ascend's new dispensary location. CCHWF is a best idea long.
Altria Entry into Cannabis?
Phillip Morris is eyeing an entry into the cannabis market. Phillip Morris CEO Andre Calantzopoulos said: “We are doing all this work and will determine one day what avenues to pursue,” he said. “But our priority is what we’re doing with our smoke-free products, and that’s where I would stay on cannabis.” No surprise that tobacco companies will try to enter the market to find new revenue streams, specifically ones that are less harmful. Altria, which sells Marlboros, has been investing in cigarette alternatives as it took a 35% stake in Juul and CRON in 2018. This investment has struggled with enhanced regulation on nicotine. Philip Morris has been the most cautious among its peers to enter the playing field. Earlier this year, British American Tobacco took a stake in Organigram, another Canadian marijuana grower. We have seen large tobacco and alcohol companies start taking stakes in established Candian LPs and continue monitoring further investments.
The Valens Company Application to List on NASDAQ
The Valens company, a leading Canadian manufacturer of cannabis products, applied to list its common shares on Nasdaq. As a reminder, Canadian stocks can list on Nasdaq, while US MSOs must trade Over-The-Counter since cannabis is still federally illegal. VLNCF, as it is currently traded on the OTC US markets, will list under the ticker VLNS. Valens expects Nasdaq will decide on the listing by the end of June 2021.
