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The Year Ahead

With Democrats in Control, Investors Are High on Cannabis

Weed businesses are counting on the political shift to help them win access to financial markets and perhaps even national legalization of pot.

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Photographer: Getty Images

For Kim Rivers, chief executive officer of Florida-based Trulieve Cannabis Corp., the beginning of the year is usually busy with strategy reviews or fielding calls about the state of the nascent industry. But almost overnight on Jan. 6, as Democrats cemented their hold on both Congress and the White House, interest in her company reached a new high. Suddenly the number of meetings lined up for her January investor conferences doubled, and the calls from investors and analysts skyrocketed.

“Now it’s five people on the phone asking due diligence-type questions,” Rivers says. While racing to keep up with investor relations, she’s also making plans to replace Trulieve’s state operations with regional hubs to manage legal weed’s fast-expanding reach. “There have been a lot of good headlines,” she says. “Now we have to dig into details.”