Cannabis Industry Report Highlights Positive Sentiment and Growth Potential at Benzinga Conference

At the recent Benzinga Cannabis Capital Conference in Chicago, Water Tower Research was represented by its cannabis expert Jesse Redmond. Over the two-day event, Redmond, also co-founder of two hedge funds, engaged with important players in the industry, including operators and investors.

According to the industry report on the Conference crafted by Redmond, optimism prevailed in the atmosphere, with fully attended events pointing to a growing interest from larger allocators keen on cannabis investment. 

Redmond’s report also compiles the views of operators, who expressed caution while demonstrating a commitment to execution and robust cash flow. Despite anticipation about potential changes in cannabis’s federal Schedule I status and 280E, the uncertainty indicates that tax relief has not been integrated into many of their business strategies.

At the conference, Water Tower Research moderated a keynote presentation featuring TerrAscend Corp TSNDF executive chairman Jason Wild and gleaned insights from three more industry leaders.

Jon Levine, CEO of MariMed Inc MRMD, discussed the company’s anticipated expansion in 2023, specifically spotlighting projects in Illinois and Missouri. Levine hinted at the imminent Illinois debut of their key brands, Betty's Eddies and Nature's Heritage Flower, in line with their aim to establish brand equity.

AYR Wellness Inc AYRWF CEO David Goubert, outlined the company’s impressive growth. With a presence in eight states and managing close to 6 million transactions through 85 retail locations, the company boasts a wide-reaching influence in the industry. Their 18 cultivation sites sprawl across 1.3 million sq. ft. The company also registered an 18% YoY revenue spike in Q2/23. Goubert also stressed the company’s optimistic outlook on Ohio, Pennsylvania and Florida markets.

Shane Johnson, senior VP of InMed Pharmaceuticals Inc INM, took the opportunity to showcase the company’s innovative endeavors in the rare cannabinoid domain. InMed, recognized for its pioneering expertise in crafting cannabinoids like CBC and THCV, remains at the forefront of cannabinoid manufacturing.

Jesse Redmond’s detailed report underscores the dynamism of the cannabis investment sector on display at the Benzinga Conference. His insights reveal MariMed, AYR Wellness and InMed Pharmaceuticals as companies with promising futures that will help shape the landscape of cannabis investment and innovation.

You can listen to Jesse Redmond's full interviews at the Water Tower Research's website.