The opening of new dispensaries
Today, iAnthus Capital Holdings (ITHUF) announced it will open its first dispensary in Florida on December 19. The dispensary will be operated under the GrowHealthy brand. Also, the company plans to open two more dispensaries in the state by the end of this year.
The company’s management has stated that despite the opening of physical dispensaries, it will continue with its current delivery program. Since February, the company has been offering a free statewide delivery service. The physical dispensaries, which are designed to enhance the customer experience, will provide patients access to expert advice and also offer them new limited-release products.
Randy Maslow, president of iAnthus, stated, “We’ve made a substantial investment in developing an original dispensary design that provides an inviting, immersive and educational experience, along with a wide array of high-quality medical cannabis products. This is just the start in our plans for a rapid expansion of GrowHealthy dispensaries throughout Florida,” reported PR Newswire.
Today, iAnthus Capital Holdings was trading 2.2% lower at 11:23 AM EST. Since the beginning of this month, the company’s stock has declined 4.6% as of December 17. During the same period, the stock prices of peers MedMen Enterprises (MMNFF), Green Organic Dutchman Holdings (TGODF), and Trulieve Cannabis (TCNFF) have declined by 10.3%, 15.7%, and 15.0%, respectively. Meanwhile, the ETFMG Alternative Harvest ETF (MJ) has fallen 10.0% during the same period.