Cantor Fitzgerald analyst Pablo Zuanic provided a financial update on the latest information about US MSOs in Illinois, Massachusetts, Nevada and Florida.
Illinois is expected to benefit from “overweight” Cresco Labs (OTC: CRLBF) and Curaleaf Holdings (OTC: CURLF), while a recovery in Massachusetts and resilience in Nevada is encouraging for neutral rated AYR Strategies (OTC: AYRSF). In addition, continued strength in Florida is good news for overweight rated Trulieve Cannabis (OTC: TCNNF).
Illinois cannabis revenue, from both recreational and medicinal, was up 18% in the June quarter.
Monthly recreational cannabis sales topped $47.6 million in June. Recreational sales grew on a month over month basis since march. May experienced the biggest jump (19%).
According to Cantor Fitzgerald, recreational sales imply $41 per capita in Illinois; If compared to $50 per capita in Colorado after its own sixth month of legalization, it would imply 6 times upside for Illinois five years out or $3.5 billion.
Additionally, since recreational sales …