Marijuana company Jushi Holdings (JUSHF -5.14%) announced Friday that it is opening a new branch of its BEYOND / HELLO medical cannabis dispensary in Pennsylvania. The store, in the eastern city of Hazleton, will open for business on June 6 and is to be Jushi's 12th operating dispensary in the state.
Unique among multistate operators (MSOs) in the marijuana industry, Jushi's business strategy is to establish and maintain a presence in limited-license states and municipalities -- i.e., locations where there is a cap on operating dispensaries. Pennsylvania, the nation's sixth-largest state in terms of population, is one such location.
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Jushi said the Hazleton store will carry a wide range of medical marijuana products, including dry leaf, topicals, and capsules. Ancillary products like smoking devices will also be available. A licensed pharmacist will be on site to assist customers with sales and inquiries.
The company added that Hazleton "is the second Pennsylvania location built with the Company's new retail design system that is focused on patient flow, accessibility, safety, and providing an in-store experience that goes beyond the traditional cannabis retail environment."
Jushi is far from done with the state. In the press release trumpeting the new store's opening, it said it aims to open six more Pennsylvania outlets before the end of the year.
At the moment, only medical marijuana is permitted in the state. But if any state is soon to flip the switch on recreational pot, it's this one, as it's in the relatively permissive Northeast of the country. It also borders two states -- New York, No. 4 on the population list, and New Jersey -- that recently and famously legalized recreational weed.
On Friday, Jushi's stock fell by 1.2%, in contrast to the 0.9% gain of the S&P 500 index.
