With a 37.22% increase during the current trading session at $2.47, Leafly Holdings, Inc. (NASDAQ: LFLY) stock is showing signs of a major uptrend on the charts. Analysts surmise that recent strategic moves may be driving investor interest based on this abrupt surge that has happened in the absence of any immediately relevant news.
Collaboration To Uphold The Legal Cannabis Sector In New York
By forming a new partnership with the New York Cannabis Retail Association (NYCRA), Leafly (LFLY) has increased its presence in the cannabis industry in New York. Operating under the motto “Collaboration Over Competition,” local dispensary proprietors make up the non-profit NYCRA. This partnership’s main goal is to advance the state’s cannabis industry’s sustainability, equity, and inclusivity.
Leafly and NYCRA have teamed up to sponsor several industry events in 2024 in addition to advertising efforts meant to increase New Yorkers’ awareness of the benefits of consuming legally grown and locally produced cannabis.
Challenges Facing the Legal Cannabis Industry
One way that citizens may directly support their local economy is to purchase legal cannabis that is cultivated, manufactured, tested, and sold inside the borders of the amazing state of New York. Throughout the supply chain, legal cannabis generates long-term employment and generates tax income for community projects.
Legal cannabis merchants have faced difficult operating conditions in the Empire State, and the ongoing emergence of unlicensed stores in New York leads to unfair competition for licensed retailers and uncertainty for cannabis consumers.
Advocating for a Fair Marketplace
Being the first cannabis marketplace in New York, LFLY has direct knowledge of the difficulties faced by legitimate cannabis companies under the city’s strict regulations as well as the unfair competition from hundreds of unlicensed vendors who provide illegal marijuana to both locals and visitors.
Retailers have a right to compete in a fair market, and New Yorkers have a right to safe products and information to help them make decisions about what to buy. Jayson Tantalo, Brittni Tantalo, and Coss Marte, license holders for Conditional Adult-Use Retail Dispensaries Recipients (CAURD), together created NYCRA.
NYCRA has worked with Leafly (LFLY) to further create awareness among the community as part of its continuous efforts to ensure that legal cannabis is represented correctly in New York. When trying to shop at legal cannabis companies in New York, the Leafly app and website are helpful options.
