Multistate operators are busy expanding their retail footprints in Florida’s nearly $2 billion medical marijuana market, in some cases betting that adult-use legalization is on the horizon and jostling into position to capitalize on that possibility.
But investing in Florida marijuana retail could be a gamble.
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Medical cannabis dispensaries are already offering deep discounts to the more than 800,000 registered medical consumers in the increasingly competitive Florida market, and some companies reported flat sales in the state for the quarter ending June 30.
Also, more competition is on the way.
There are 22 companies currently licensed in Florida’s medical market, which is one of the nation’s largest, in addition to two licenses that were recently awarded to Black cultivators.
Regulators are currently reviewing license applications for a new batch of 22 vertically integrated Medical Marijuana Treatment Centers (MMTCs) – as MMJ operators in Florida are known.
Read full article on Marijuana Business Daily
