While in college, I met a girl from Grand Forks, ND.
She was stunningly gorgeous, and for some odd reason, took a liking to me.
Unfortunately, I was a stupid kid and had no idea how to play it cool. Three days after meeting her, she took her ball and went home. And as much as it broke down my self confidence even further, I did learn a very valuable lesson: When you have an opportunity to make a move, don’t hesitate. Opportunity doesn’t knock often, and if you don’t answer the door when it does, you’ll be forever regretful.
Truth is, I haven’t thought much about her, or North Dakota for that matter, for decades. But my memory was jogged this week after I learned that Acreage Holdings (OTCBB: ACRGF) will be opening its first dispensary in Fargo, North Dakota.
Last September, Acreage won one of two available licenses in North Dakota, and next week, it’ll open its doors to its first North Dakota dispensary.
The Peace Garden State actually legalized medical cannabis in 2016. Unfortunately, the qualifying conditions for cannabis access was pretty limited at the time. But that recently changed with the state House approving an expansion of the list of qualifying conditions. Two of those conditions are opioid use disorder and opioid withdrawal. This is a big deal given that North Dakota has seen an increase in opioid overdoses over the past couple of years.
Also worth noting is that after a narrow defeat of a bill that would’ve decriminalized possession of small amounts of cannabis, legalization activists have now announced plans to get cannabis legalization on the 2020 ballot.
If they can get this to a ballot, and voters approve it, Acreage will be in an excellent position to capitalize.
It’s clear that unlike me and my North Dakota experience, Acreage Holdings is taking full advantage of the opportunity presented to it. Investors would be wise to do the same and get a little exposure to the North Dakota market through Acreage.