Who’s Winning In Weed? Analyst Looks At Cannabis Market’s Big Players, Where Are The Best Bets?

Who's Winning In Weed? Analyst Looks At Cannabis Market's Big Players, Where Are The Best Bets?

In the first quarter of 2024, the cannabis sector faces a mixed economic landscape with a notable sequential decline in sales across several states.

Pablo Zuanic, senior analyst of Zuanic & Associates has detailed insights into the sector's performance, particularly focusing on multi-state operators (MSOs) and their exposure across pivotal states such as Arizona, Connecticut, Florida, and others.

Q1 2024 Sector-Wide Financial Highlights

Overall, Q1 saw a downward trend in sales, except for a few states like Florida and Pennsylvania.

The most significant sales declines were observed in Connecticut (-6%) and Illinois (-4%), with moderate decreases across Massachusetts (-3%), Ohio (-2%), and both Michigan and Maryland experiencing a -1% change.

Pennsylvania, by contrast, reported a 3% increase, showing resilience amidst broader sector struggles. Each state showcased unique trends affecting both sales and market dynamics.

Q1 2024 State-by-State Financial Performance And Leading Companies

  • California: Faced a 6% year-on-year decline, adjusting to a $5 billion market size. Notable MSOs like Cresco Labs (OTC: CRLBF) and Green Thumb Industries (OTC: GTBIF) have scaled back operations, reflecting a strategic pivot within the state. Other prominent MSOs include TerrAscend (OTC: TRSSF) and 4Front Ventures (OTC: FFNTF).
  • Michigan: A standout in the sector with a robust 24% year-on-year growth, leading to $793 million in sales for the quarter. Despite stable retail prices, the wholesale market …

Full story available on Benzinga.com

Leave a Reply

Your email address will not be published. Required fields are marked *