Pablo Zuanic, managing partner at Zuanic & Associates, is a featured speaker at Benzinga’s Cannabis Market Spotlight event in New Jersey on June 17, 2024.

Zuanic, known for his detailed analysis of the cannabis and psychedelics markets, brings valuable perspectives on current trends and financial performance. Zuanic's knowledge will be especially relevant to New Jersey’s growing cannabis market as he noted the challenges and opportunities within the state, particularly the effects of market saturation and pricing pressures.

Broader Market Trends

Zuanic observed the increasing number of retail locations in New Jersey diluted revenues per store, suggesting that the market might be experiencing over-expansion.

In his recent reports, Zuanic detailed the mixed economic conditions across various states in the first quarter of 2024. For instance, while Pennsylvania saw a 3% sales increase, Connecticut experienced a 6% decline. California adjusted to a $5 billion market size despite a 6% year-on-year drop, and Michigan stood out with a 24% year-on-year growth.

These insights help contextualize New Jersey’s market within the broader national landscape.

Retail and pricing dynamics differ across states. Illinois saw a 4% sequential sales decrease in the first quarter of 2024, following a positive trend in the previous quarter. Florida showed stable growth, reflecting consistent expansion in retail locations and patient registration. Multi-state operators (MSOs) have adjusted their operations, scaling back in saturated markets like New Jersey and Nevada while expanding in states with positive sales trends like Florida and Pennsylvania.

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Global Perspective

Zuanic's background includes roles at JP Morgan, Barings and Cantor Fitzgerald, along with an MBA from Harvard Business School. This diverse experience informs his strategic approach to equity research, providing valuable insights for event attendees. His firm, Zuanic & Associates, offers research aimed at institutional investors and corporations, covering more than 35 companies across the cannabis and psychedelics markets.

Benzinga Cannabis Market Spotlight

Amid these ongoing legislative debates, the Benzinga Cannabis Market Spotlight event is scheduled for June 17, 2024, in New Brunswick, N.J. This event is poised to be a gathering for networking, with interest from stakeholders across New Jersey and neighboring states like New York, Pennsylvania and Connecticut.

As New Jersey continues to refine its cannabis regulations and market, the upcoming Benzinga event will serve as a critical platform for discussion and development, aligning industry leaders, policymakers and entrepreneurs to shape the future of cannabis in the region.

Canna Founders Pitch Competition

A highlight of the event will be the Canna Founders Pitch Competition, organized in partnership with Rooted in Good. This competition is open to businesses with products or services in the market and less than $250,000 in revenue last year. The application deadline is May 28, and it offers a platform for emerging entrepreneurs to showcase their innovations.

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Photo: Courtesy of CRYSTALWEED cannabis via Unsplash