After the recent news that Governor Phil Murphy is going to try and make Marijuana as legal as possible for the state of New Jersey, many CBD edibles enthusiasts are excited. It would appear that this is only going to get legal for medical purposes at first though, for if the new law is passed more than 30,000 patients will be allowed to buy medicinal marijuana without doing the check and balance every time.
It would appear that more than 33 states in the United States already have made Marijuana legal, with people allowed to buy marijuana from outside, but not allowed to grow them in-house. Some other states have also made marijuana legal, but only for medical purposes. New Jersey is one of them. Patients can only buy marijuana from the respective NJ marijuana dispensary centers. New Jersey’s entire marijuana market is expected to rise to 850$ million by 2022 based on annual sales.
Here are some of the companies that might benefit if NJ does legalize Marijuana for general use, like CBD edibles:
Curaleaf Holdings is one of the largest companies that have their dispensaries in the country. If Marijuana does become legal, Curaleaf NJ marijuana dispensary centers may easily become a reality.
One important thing to note is that Curaleaf Holdings are developing a 2-acre greenhouse facility in New Jersey. They are already preparing for the big move, and as soon as marijuana does become legal, they will be one of the fastest companies to take action.
Since the NJ market right now is similar to CBD edibles: survival of the fittest, the fastest company to set foot on this state will be the one to gain the best stock rate in the end.
TerrAscend is one of the biggest companies in Canada, but have also been one of the 6 firms that were allowed by the Medical program in NJ to operate here. They already have their NJ marijuana dispensary centers ready to be deployed, but it could be a while before we see TerrAscend in NJ. Since TerrAscend are currently free to cultivate, process and sell marijuana in NJ currently, as soon as they officially get the license, they might benefit the most from marijuana becoming legal in this state.
MariMed has been trying to get its footholds in the state for a long time. MariMed describes itself as a multi-state cannabis organization that produces cannabis on its own. In the recent months, MariMed acquired BSC Group, a license and consulting firm, and with the help of this firm, they could see a huge leap into the license game as soon as Marijuana does become legal in NJ. We are very excited to see if MariMed CBD edibles will become a thing in NJ or not.
There are many other stocks that are hiding right now, who might emerge later onwards, and try to hog benefits as soon as Marijuana does become legal, but these are a certain few we are sure of.