The cannabis industry continues to see new developments as celebrities and businesses enter the market. Raekwon, a member of Wu-Tang Clan, along with hip-hop radio personality Charlamagne tha God, and a South Carolina civil rights lawyer, have been granted a license to launch a marijuana sales and consumption lounge in downtown Newark, New Jersey. The Hashstoria dispensary and lounge, designed by Rachael Grochowski of RHG Architecture + Design, will offer a space for cannabis enthusiasts to purchase and consume marijuana products. This expansion aims to legally grow the cannabis industry in Newark.
Another recent addition to the cannabis consumption lounge scene is PleasureMed in West Hollywood, California. Owned and operated by Brian Robinson, PleasureMed includes two restaurants, Irie and Hind, in addition to its dispensary and consumption lounge. This 6,500-square-foot facility is located at 7733 Santa Monica Boulevard, providing a convenient option for cannabis enthusiasts in the area.
Top Cannabis Players Expand Retail Operations in Florida
Florida’s cannabis market is experiencing rapid growth, leading to the expansion of retail operations by various cannabis multi-state operators. Trulieve Cannabis Corp. recently opened a new dispensary in Marianna, Florida, located at 4256 Lafayette Street. This new location offers greater convenience for patients and caregivers in Jackson, Washington, and Calhoun counties.
Verano Holdings Corp. also expanded its presence in Florida with the opening of the MÜV Satellite Beach store at 106 Florida Highway A1A. This marks the company’s 72nd Florida dispensary and 135th location nationwide, further strengthening its retail footprint in the state.
In addition, RISE Dispensaries, owned by Green Thumb Industries Inc., opened its tenth retail location in Florida and 86th nationwide. The RISE Dispensary Sun City Center, located at 1509 Rickenbacker Drive, will have a grand opening celebration on Tuesday, Nov. 14. These expansions reflect the significant growth of the Florida cannabis market, setting the stage for potential legalization of recreational use.
New Cannabis Store Openings in the US and Canada
Medicine Man Technologies, Inc., operating as Schwazze, introduced a cannabis store-within-a-store model in Fort Collins, Colorado, combining a Star Buds neighborhood dispensary with a Standing Akimbo Hotspot. The goal of this new concept is to meet customers where they want to make their purchases.
Bloom Montana, a prominent cannabis brand, opened its newest marijuana dispensary in Great Falls, Montana, at 817 23rd Street North. This marks the brand’s 25th cannabis dispensary, further expanding its presence in the state.
High Tide Inc.’s Canna Cabana retail cannabis store at 101 Sage Valley Common NW in Calgary, Alberta, launched sales of recreational cannabis products and consumption accessories. This new location is High Tide’s 157th Canna Cabana branded retail cannabis store in Canada and the 78th in Alberta.
Investing in Cannabis Stocks
As the cannabis industry continues to grow, investing in cannabis stocks has become an enticing opportunity. Experts believe that cannabis stocks have found their floor and are now poised for unprecedented growth. If you missed the first wave of cannabis investments, you have the chance to make up for it.
Join Benzinga PotProfits, where our in-house cannabis stock expert, Michael Berger, uncovers the most promising cannabis stocks poised for growth. Michael diligently researches potential double-digit opportunities, bringing you the juiciest picks. The PotProfits portfolio has already seen smoking-hot gains this year, including 47.10% with $GTBIF, 40.23% with $TCNNF, and 21.50% with $VFF.
Don’t miss out on the green rush! Stay ahead of the curve by investing in the booming cannabis market.
Photo: Courtesy of Budding on Unsplash
