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New York Cannabis Market Analysis


thomas
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On 6/16/2023 at 7:59 PM, 2pelo Honey said:

So, weren’t these license’s supposed to go to black felons with prior drug charges?

No, not really. Eligibility for CAURD has nothing to do with being a minority.

1)You need to have been arrested, or your close family arrested and also CONVICTED for some weed offense.

2) You need to be at least a 30% owner in the new venture

3) You need to live in NY

4) You need to have prior experience running a business.

Those  4 things will greatly weed out the applicants.

 

 

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I feel that many of these dispensaries will go under and that NY, is in for a rude awakening regarding projected and actual revenue. I am pro weed fwiw but I think NY has "visions of sugarplums dancing in their heads" in regards to how much revenue they will make. They have divided marijuana into way to many licensing categories thinking that they can charge all these fees and that somehow the price of weed will absorb all of it. Ha, just look to Cali, Michigan, and Colorado and you can see it's pie in the sky. The NY greed has cost them 2 years on their rollout.....They haven't sold squat either. All their posturing is against a ticking clock. That clock is ticking downward and the price of weed is following it. All NY is going to do is keep the black market alive and well. As it is there is a weed glut in michigan and colorado.......you find the right ad and they will mail it here CHEAP AF.

Here, 18 months after the first dispensary rollout.............the general population will be able to grow their own weed at home. NY got into the game too late and then dilly dallied another 2 years and still projecting 2017 numbers. 

Weed prices would fall thru the floor totally, except that the high price of dispensary weed will actually buoy the black market price. I really think one of the problems is that there are no NYS people in charge of this that know anything about weed. :)

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FlynnStoned in Syracuse, NY's largest licensed rec cannabis dispensary, is owned by Mike Flynn, who also owns the Geddes-based roofing company The Roofing Guys. He bought the three-story building in downtown Syracuse for $2 million a couple months after legalization took effect in 2021. Since then, Flynn has spent about $1.3 million renovating the space and has been anxiously awaiting the day he could open the doors to customers.

https://www.syracuse.com/news/2023/06/flynnstoned-cannabis-company-rolls-into-syracuse-photos.html

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The third legal marijuana dispensary in Broome County is preparing to open on the Vestal Parkway.

Sacred Bloom, a recreational cannabis dispensary, plans to open sometime in the next two weeks in the strip mall known as The Shoppes at Pierce Hill.

Owner Todd Hartman of Oneonta has been in the smoking accessories business, received his retail license as a result of a 2016 conviction for trying to mail marijuana through the post.

https://www.binghamtonhomepage.com/news/top-stories/legal-marijuana-dispensary-to-open-in-vestal/

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Unlicensed Conklin Weed shop closed down by authorities. WIVT on scene filming.

New York authorities have seized about 1,000 pounds of illegal marijuana products worth about $10 million from 31 different shops accused of illegally selling cannabis across the state, Gov. Kathy Hochul said Thursday.

https://www.democratandchronicle.com/story/news/2023/06/22/ny-seizes-1000-pounds-of-illicit-marijuana-from-illegal-shops/70346138007/

 

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Endicott pot shops raided & seized

On Wednesday, June 21st, BMillz located at 122 Washington Ave and Royal Vapes at 113 Washington Ave in Endicott were both given notices of violation due to selling illicit cannabis products not authorized by the state.

The signs on the windows say the stores have been ordered to stop illegal activity and that illicit cannabis has been seized.

If the unlicensed business removes the notice affixed to the storefront, the business is subject to a fine of up to $5,000.

https://www.msn.com/en-us/news/us/endicott-pot-shops-raided-seized/ar-AA1cWAVW?ocid=hpmsn&cvid=42f94780a80849a899fb43b52b375965&ei=33

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NY Cannabis Crisis: State lawmakers and tribal nations urge governor to sign rescue act for struggling marijuana farmers

Dubbed the Cannabis Crop Rescue Act, would allow licensed marijuana farmers to sell their crops to the state’s tribal nations. The legislation passed in the state Assembly and Senate but still needs the governor’s signature.

Tela Troge, member of the Shinnecock Nation Cannabis Regulatory Division,  told CBS6 that they’re ready to make millions of dollars in cannabis purchases from cultivators if this bill is signed into law.

https://cbs6albany.com/news/local/new-york-cannabis-crisis-state-and-tribal-nations-urge-governor-to-sign-rescue-act-for-struggling-farmers-native-american-dispensary-marijuana-cultivator-ocm-kathy-hochul-shinnecock-nation-new-york

**New York’s $200M cannabis social equity fund finally fully banked

https://www.syracuse.com/marijuana/2023/06/new-yorks-200m-cannabis-social-equity-fund-finally-banked.html

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  • 3 weeks later...

Marijuana can legally be sold at festivals and other events in New York under a measure approved by state regulators Wednesday, after farmers complained that there are too few dispensaries to sell what they harvest.

The initiative approved by the Cannabis Control Board will allow three or more growers to partner with retailers for consumer sales outside of dispensaries at adult-oriented, locally sanctioned events.

https://www.foxnews.com/politics/ny-regulators-greenlight-marijuana-sales-festivals-public-events

here's more...

More CAURD licenses, closing a hemp ‘loophole’ and more news from the July 19 Cannabis Control Board meeting

https://www.syracuse.com/marijuana/2023/07/more-caurd-licenses-closing-a-hemp-loophole-and-more-news-from-the-july-19-cannabis-control-board-meeting.html

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Did they decide whether or not weed can be sold at farmers markets? Here's why I'm asking...

Yesterday, at Russels, several people were paying with their Farmers Market coupons that are given to people on welfare. I'm not paying for their weed.

Also, what a difference 2 weeks make. Two weeks ago boxed produce..scratch and dent was $6.00 up a dollar from last year. This week, I purchased a box with a lot of peppers and some other odds and ends for $10.00.

The prices were totally jacked up...probably because of these coupons.

post edit...the box I bought was totally worth $10.00. The peppers were in great shape, I don't see anything wrong with them. I gave away about a dozen and still have 18 green, yellow, red and purple bell peppers to clean and freeze. I also gave away some  okra, habanero and other hot peppers...like a gallon freezer bag full and ate the baby artichokes for a snack. There was summer squash...washed it off, it's in my fridge...nothing wrong with those either. Oh, and a quart bag of banana peppers which I kept but not sure what I'm going to do with them yet.

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6 hours ago, ginger said:

Did they decide whether or not weed can be sold at farmers markets? Here's why I'm asking...

Yesterday, at Russels, several people were paying with their Farmers Market coupons that are given to people on welfare. I'm not paying for their weed.

Also, what a difference 2 weeks make. Two weeks ago boxed produce..scratch and dent was $6.00 up a dollar from last year. This week, I purchased a box with a lot of peppers and some other odds and ends for $10.00.

The prices were totally jacked up...probably because of these coupons.

post edit...the box I bought was totally worth $10.00. The peppers were in great shape, I don't see anything wrong with them. I gave away about a dozen and still have 18 green, yellow, red and purple bell peppers to clean and freeze. I also gave away some  okra, habanero and other hot peppers...like a gallon freezer bag full and ate the baby artichokes for a snack. There was summer squash...washed it off, it's in my fridge...nothing wrong with those either. Oh, and a quart bag of banana peppers which I kept but not sure what I'm going to do with them yet.

Interesting..I  understand this isn't the right thread however I suppose you can make a caveat emptor correlation.

I'm sitting here cleaning these peppers...I thought I was purchasing local product. One of the peppers has a sticker from Canada on it. Disappointing. It's always my intention to BUY LOCAL. 

Kinda makes you wonder where the marijuana is grown. Is it really a NYS product? 

 

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On 7/21/2023 at 4:04 PM, ginger said:

Interesting..I  understand this isn't the right thread however I suppose you can make a caveat emptor correlation.

I'm sitting here cleaning these peppers...I thought I was purchasing local product. One of the peppers has a sticker from Canada on it. Disappointing. It's always my intention to BUY LOCAL. 

Kinda makes you wonder where the marijuana is grown. Is it really a NYS product? 

 

When New York legalized adult-use marijuana more than a year ago the result has been a weed free-for-all: unregulated untaxed Cannabis seems to be for sale everywhere — unlicensed head shops, bodegas, even from folding tables on street corners. Some unlicensed dealers brazenly sell in public, and many boast their products were grown in California.

https://www.politico.com/newsletters/weekly-new-york-health-care/2022/11/14/new-yorks-black-market-for-weed-thrives-ahead-of-legal-sales-00066650

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On 7/21/2023 at 4:04 PM, ginger said:

Did they decide whether or not weed can be sold at farmers markets?

https://www.waer.org/news/2023-07-07/new-york-backpedals-on-proposal-to-sell-marijuana-at-farmers-markets

As far as I know it's not happening. They realized that "farmers" can not sell retail under their own law and would need to be partnered with a "retailer" to function at whatever events that they might allow it. (which is also undecided)

It's a great service for them to be finally selling last years crop to people, even if it's still theory.

 

Old weed is crap but it will get dispo'd all over to people for big bucks.

I would not worry about anyone paying for their weed via welfare. They will just grow their own and use their coupons for something else.

57a.JPG

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  • 3 weeks later...

Vireo Health, owned by Goodness Growth, announces 

We are optimistic that we’ll be able to share additional details regarding the divestiture process for our New York assets during the third quarter and look forward to sharing more visibility into our future profitability expectations once this process is complete.

Vireo has 5 dispensaries in NY including one medical in Johnson City.

https://vireohealth.com/goodness-growth-holdings-announces-second-quarter-2023-results?_ga=2.240363011.182149347.1692070015-1946443044.1682482595

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Time for Binghamton open it's own casino because that's how I see this marijuana roll out. Governor Hochul/Democrats, once again thought it was their job to pick winners and losers instead of allowing the free market to determine that. 

There's a nice big space where the Binghamton Plaza sits...right off the highway. 

Who ISN'T done with these people's micromanagement? 

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On 7/28/2023 at 4:36 PM, relic said:

https://www.waer.org/news/2023-07-07/new-york-backpedals-on-proposal-to-sell-marijuana-at-farmers-markets

As far as I know it's not happening. They realized that "farmers" can not sell retail under their own law and would need to be partnered with a "retailer" to function at whatever events that they might allow it. (which is also undecided)

It's a great service for them to be finally selling last years crop to people, even if it's still theory.

 

Old weed is crap but it will get dispo'd all over to people for big bucks.

I would not worry about anyone paying for their weed via welfare. They will just grow their own and use their coupons for something else.

57a.JPG

lol, Waverly's newest wallpaper pattern....

https://images.app.goo.gl/tS34d2JRT3sW9XeD6

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New York judge blocks retail marijuana licensing, a major blow to state's fledgling program

A New York judge blocked the state's retail marijuana licensing program on Friday. The order represents a severe setback for the state's legal marijuana industry, which has been defined by a slow licensing rollout, a glut of excess marijuana crops and legal challenges that have allowed an illicit market to boom.

The veterans' lawsuit, now joined by medical dispensaries, argues that state marijuana regulators improperly limited the initial round of licenses to people with prior marijuana convictions, rather than a wider group.

The judge did grant an exemption to his order for licensees who met all the state's requirements before Aug. 7.

Next hearing Aug 25.

https://www.msn.com/en-us/news/us/new-york-judge-blocks-retail-marijuana-licensing-a-major-blow-to-state-s-fledgling-program/ar-AA1fsYcH?ocid=hpmsn&cvid=e9528322e54841d98efa53300a089c3d&ei=13

 

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  • 3 weeks later...

Brad Racino, journalist, tweet...

Pointed out by Paula Collins that NYC City Council now says the # of unlicensed shops is way higher than before: "It is estimated that New York City is home to approximately 8,000 illegal, unlicensed smoke shops."

Previous est. 2,000.

https://council.nyc.gov/press/2023/08/14/2454/#:~:text=It is estimated that New,13% tax on legal sales

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23 hours ago, thomas said:

statement just released :

0p1K7Fz.jpg

They need to not pass this crappy law. The facts are NYS screwed up royally by letting these farmers grow too early. Now there is 250,000 lbs of already 1 year aged weed that is becoming a hot potato. Better to just flush the 250k lbs now and start fresh. This stupid Rescue act will only help the growers.......but the buyers will be getting screwed getting old weed for top dollar. But it won't help the growers for long as they will have to compete against that same lame crop inventory until it is absorbed. It will be dilutive for 5 years. It's better to dump this crop now and move forward.

A big mistake was made but let's not compound the problem by being pennywise and pound foolish. The "crop" has already degraded for 1 year. Why should that get shluffed off on consumers to help the growers?

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