Which Companies are Positioned to Capitalize on New York’s Recreational Cannabis Market

Last month, New York’s Office of Cannabis Management (OCM) released a plan to issues the maximum number of conditional adult use retail dispensary (CAURD) licenses to people who have been impacted by the war on drugs.

We are favorable on the plan to help people who have been incarcerated for a cannabis related offense and believe the focus on this demographic is an important step for the sector. The maximum number of licenses that can be issued to this subset of people is 150 and we will monitor how the OCM is able to structure this aspect of the state’s recreational cannabis industry.

Last week, New York’s portal for a Conditional Adult-Use Retail Dispensaries (CAURD) license application became active and the portal will be open until September 26^th.  Over the next few weeks, we expect to see thousands of applications submitted through the portal and will monitor how the OCM is able to handle to process.

As part of the program, individuals who receive a CAURD license will be able to access a $200 million Social Equity Cannabis fund and be eligible for turnkey storefronts that are now being secured and built out by the Dormitory Authority of New York. We expect the program to play an important role in how these dispensaries perform and believe the money will go to the people who need it the most.

New York is one of the largest markets in the world and we expect the state’s cannabis industry to be a multi-billion-dollar market in the first year. During the last few years, we have seen several high-profile multi-state-operators (MSOs) in the United States (US) divest of New York cannabis assets which has surprised us.

If you are interested in learning more about cannabis retailers that operate in New York, please send an email to support@technical420.com with the subject “New York Cannabis Retailers” to be added to our distribution list.

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Michael Berger is Managing Partner of StoneBridge Partners, LLC and Founder of Technical420.com. Prior to entering the cannabis industry, Michael was an Equity Research Analyst at Raymond James Financial covering the Energy Sector. Michael has been featured in publications such as The Street, Bloomberg, US Money News, and hosts various cannabis events across North America.

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