In the 3 years since it started growing and selling cannabis, New York-based Ascend Wellness Holdings, Inc. (CSE: AAWH.U) (OTCQX: AAWH) has grown to operate 19 dispensaries in the 5 states where it’s licensed to grow its award-winning strains.
The company’s cultivation and retail successes — it’s opened 5 stores this year alone — have translated into rapidly increasing revenue and the ability to attract capital to increase its operations even further.
Ascend, which completed its initial public offering (IPO) in May, has operations in Massachusetts, New Jersey, Michigan, Ohio, and Illinois including its flagship retail locations. A pending investment in New York will give Ascend access to that market — one of the hottest new markets to approve cannabis for recreational use. The company looks to grow into other limited license recreational or near-recreational markets. Examples of such markets include Pennsylvania, Connecticut, Maryland, Virginia and Arizona.
In addition to the recently acquired Ohio cultivation operations, Ascend has grow operations …