Laws are becoming more and more relaxed in regards to the legal hemp and cannabis industry, with regulators at the state level legalizing it across numerous regions in the United States. While the sector has been underperforming in recent months when compared to the S&P 500, there are still glimpses of hope in some of the smaller players.
Jushi Holdings Inc. (CSE:JUSH) made headlines today after it announced that it will be entering the California market when it opens its 11th retail location nationally. Jim Cacioppo, Founder, CEO and Chairman of Jushi, went on to say "With sales that far surpass any other U.S. state, California represents a significant growth opportunity for Jushi."
The news backed by the positive reinforcement by the company’s CEO led traders to buy up shares to $3.34/share (+1.8%) in early trade. This move follows an impressive uptrend over the last few months as the stock has more than doubled in value since June of this year.
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