Florida is set to start selling medical marijuana on Tuesday, but just one company is approved to dispense it and cannabis investors are divided on whether or not now is the right time to invest in the state's nascent pot industry.
A half dozen businesses were granted licenses to cultivate the medical cannabis but as of Thursday evening Hackney Nursery, doing business as Trulieve, was the only one to receive approval to dispense it, according to Mara Gambineri, a spokeswoman for the Florida Department of Health. Trulieve plans to sell medical cannabis at its retail store in Tallahassee and its website indicates the company eventually intends to have locations in three other cities.
"We're not talking about having a dispensary on every street corner," said Richard Blau, an attorney who leads the regulated products practice at the Florida law firm of GrayRobinson. "It is still a very controlled, closely tailored and very heavily regulated structure."