They say it’ll generate $3.1 billion a year in sales.
I think it’ll be more.
According to the comptroller of New York, cannabis sales in the Empire State will exceed $3 billion a year after the legalization of recreational cannabis.
And if you haven’t been paying attention, New York is on the cusp of legalization.
During his inaugural address, Governor Andrew Cuomo pledged to legalize cannabis. He even released the details of his legalization plan just a couple weeks ago.
The mayor of New York City supports legalization, and the majority of lawmakers in Albany do, too.
It should also be noted that the latest Quinnipiac poll on legalization shows that New York voters overwhelmingly support legalization.
Make no mistake: Legalization in New York is virtually a done deal. And if you have any sense about you, you’ll start loading up on a handful of pot stocks that have exposure to what will soon be the second most profitable market in the U.S. for legal cannabis.
My Top Pick for the New York Cannabis Market
There are about a half-dozen pot stocks that have exposure to New York right now. You can find out more about these here.
But there’s one in particular that I find very appealing today.
The company is called Curaleaf Holdings (OTCBB: CURLF), and not only does it operate four of the most successful medical cannabis dispensaries in New York, but it also actually has the largest footprint of branded retail stores in the U.S.
Its existing footprint covers 13 states, thereby allowing it access to 70% of the U.S. cannabis market.
Today, it has 39 stores in operation, and by next year, that number will reach 71. It also has very deep pockets after raising $400 million last year. Only about $160 million of that has been deployed.
Make no mistake: In the world of legal cannabis, Curaleaf is a major player. But the best part is, when compared to its peers, it trades at a discount.
In other words, at current levels, it’s one of the few bargain pot stocks left for investors to cash in on.
Don’t get me wrong. There are others.
In fact, in addition to Curaleaf, there are at least three more pot stocks with exposure to the U.S. market — and in particular, the burgeoning New York market — that are still relatively cheap right now. But they won’t be much longer.
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We already know that 2019 will be the first year we’ll see dozens of new legalization bills actually get to the floor of the House and Senate. And Trump has signaled that he’s open to legalization.
Truth is, 2019 could actually be the year the federal government ends the prohibition on cannabis. And this, dear reader, is why you need to have some very real exposure to the U.S. cannabis market right now.
That’s why I put together this brief report, which shows you when you should expect to see legalization happen and, more importantly, the pot stocks that stand to benefit the most.
This report also outlines my personal strategy for picking the pot stocks that’ll give you the most bang for your buck. This strategy, by the way, is responsible for some of my most profitable stock picks in the history of my 20+ years working in the financial markets.
Take a look:
- Aphria, Inc. (TSX: APH) — 1,174.34% gain
- OrganiGram Holdings (TSX-V: OGI) — 1,185% gain
- Canopy Growth Corporation (TSX: WEED) — 3,015.63% gain
And there’s plenty more to come.
But the window of opportunity will be closing soon. Because the truth is, once legalization happens, not just in New York but all across the United States, we’ll be cashing out for double- triple-, even quadruple-digit gains.
So I strongly recommend that if you don’t already own a few quality pot stocks with exposure to the U.S. market, you do so right away.
To a new way of life and a new generation of wealth…
Jeff Siegel
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@JeffSiegel on TwitterJeff is an editor of Energy and Capital as well as a contributing analyst for New World Assets.
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