Water Tower Hour Recap
Jushi (CSE: JUSH, OTCQX: JUSHF) is a leading vertically integrated, US multi-state operator. The company operates in seven states, is vertically integrated in five markets, and employs more than 1,100 people. The firm is known for its exposure to leading medical markets that may soon be moving to adult-use sales, strong brands, and an experienced leadership team. Medical markets flipping to adult-use often see sales at least double and Jushi has invested ahead of this transition in key states like Pennsylvania and Virginia. Co-Founder, Chairman, and CEO Jim Cacioppo joined us on The Water Tower Hour podcast. We began the episode discussing how his prior experience in the hedge fund industry has been helpful, especially with creative financing solutions. Jushi has made meaningful retail and cultivation improvements this year. Cacioppo shared how it has made retail more efficient, while maintaining beautiful stores and a high level of service. We also covered the steps taken to improve potency and yields on the cultivation side. Pennsylvania is the fifth-most populous state and a key market for Jushi. Cacioppo covered how this medical market may be moving to adult-use by 2025 and how the company is well-positioned with 16 stores and 123,000 square feet of cultivation and processing. Being vertically integrated often leads to higher margins and greater control of the supply chain. Virginia is another large medical market moving toward adult-use sales. Jushi has six stores and 93,000 square feet of cultivation and processing in Virginia. We discussed how the political process is evolving and what Jushi is doing to prepare for this transition. The conversation concluded with Cacioppo sharing his perspective on the potential for political progress. He is optimistic about the rescheduling process but sees more potential challenges for SAFER Banking. Getting to Schedule III is the more important change, as it would remove the 280E tax burden and improve cash flows. You can listen to the episode on Apple Podcasts, Google Podcasts, Spotify, as well as our website. Links in our full report.
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