Number of Cannabis Dispensaries in the U.S. UU. Medical and recreational cannabis markets are flourishing in the United States. Nearly 40 states have passed some form of medical marijuana law and nearly 15 states have passed recreational marijuana law.
Of those states, Oregon has the highest number of dispensaries per capita, with 16.5 dispensaries per 100,000 people, Verilife reported. With the largest cannabis economy in the country and, for the fourth consecutive year, California remains at the top of our ranking. Although the state has experienced increasing difficulties with licensing and enforcement, California's experience with both cannabis and cannabis regulation indicates a bright future. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions achieve financial freedom through our website, podcasts, books, newspaper columns, radio programs and premium investment services.
You're reading a free article with opinions that may differ from The Motley Fool's Premium Investment Services. Become a Motley Fool member today for instant access to our top analyst recommendations, in-depth research, investment resources and more. Learn more In case you haven't been paying attention, North America is going green at a rapid pace, and I'm not talking about solar energy. The legal cannabis movement is rapidly gaining momentum and legal marijuana sales are expected to skyrocket in the coming years.
The Hub of All Multi-State Dispensary Operators in the U.S. It currently appears to be Harvest Health & Recreation (HRVSF), which has more than 230 pro forma facility licenses (ie,. Of these facilities, 142 are for retail licenses spanning 17 states. Clearly, Harvest Health has something to do with just over a dozen stores currently open, but the sheer number of retail licenses it holds is second to none in the dispensary space.
While Green Thumb Industries (GTBIF 0.42%) is projected to be a major player, you certainly don't hear much about the company, which operates its stores under the name Rise or Essence. Currently, Green Thumb has licenses to open up to 89 retail stores, with a presence in a dozen states and 23 open Rise brand stores. In a tight race for No. However, Acreage leads all multi-state dispensary operators on the basis of state presence.
Has retail licenses and a total of 1.2 million square feet of production facilities or processing sites in 20 U.S. Statuses on a pro forma basis. Acreage also stands out for having a number of recognized legislators on its advisory board. John Boehner (former Republican Speaker of the House of Representatives) and former Canadian Prime Minister Brian Mulroney are both advisors to the company.
Slot in fourth place, but easily within attack distance for No. On a pro forma basis, MedMen has licenses for 86 stores in 12 states, with 37 stores currently open (again, pro forma). Looking to the future, the Sunshine State is an important goal for MedMen. Despite the company announcing plans to open the fifteenth retail store in California last week (the Golden State is the largest marijuana market in the country by aggregate sales), MedMen plans to open up to 30 retail stores in Florida, where cannabis is currently legal for medical purposes.
The reason I have alluded to the 70 licenses (at least) above is the company's own recent presentation to investors, which calls for the number of open dispensaries to increase from 45 to 70 by the end of the year. Unlike the previous four U, S. That means your efforts to have 70 dispensaries open by the end of the year likely mean you have at least 70 retail licenses in your back pocket. Sean Williams has no position in any of the above stocks.
The Motley Fool has no position in any of the above stocks. The Motley Fool has a disclosure policy. Market-Leading Stocks from Our Award-Winning Analyst Team. Invest Better with The Motley Fool.
Get stock recommendations, portfolio guidance and more from The Motley Fool's premium services. Make the world smarter, happier and richer. In its detailed analysis, Verilife counts 16.5 dispensaries per 100,000 people, with more than 660 clinics spread across the state. Native Roots, founded by Josh Ginsberg and Rhett Jordan, operates 20 dispensaries across Colorado and is often referred to as the state's best-designed and most visually pleasing cannabis dispensary chain.
With about 14 dispensaries spread across 4 states, Green Goods is increasing rapidly in the world of the cannabis dispensary chain. Native Roots, which operates about 20 dispensaries across Colorado, is often described as the state's best-designed and most visually appealing cannabis dispensary chain. . .