Cannacord Genuity Capital Markets, February 28, 2021
On Saturday, February 27, the state of Virginia approved an adult use bill that will soon be signed by Governor Ralph Northam. Though recreational sales won’t begin until 2024, a separate bill allowing flower sales for the current medical program has also reached the governor's desk, with flower sales likely to commence in fall 2021.
Taking those two positive developments into consideration along with vertical integration that will be allowed for existing medical operators, Canaccord Genuity (CG) increased its estimates and price target for Merida portfolio company Jushi (OTC: JUSHF; CSE: JUSH), a national, multi-state cannabis company with an attractive position in Virginia.
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