JUSH Jushi Holdings Inc.

$JUSH Bought another 2000 shares. Huge insider buying plus the CEOs’ connections to institutions make JUSH the only small MSO to hold. IMO. VA is the key.

$JUSH Very good call, great quarter and excellent future ahead. Virginia and PA will fuel the rocket, especially if PA wakes up to what is happening all around it and realizes the tax dollars it is not getting by not approving Adult Use.

$JUSH Growth drivers. Synthetics will be banned as of Nov 11. Ohio legal marijuana sales grew at 20-30% after their state level ban was impossed. I would estimate JUSHI's quarter sales in virginia are likely between $12-$14MM. This implies a quarterly bump from Viriginia alone in the neighbourhood of $2.4 - $4.2MM. Add P.A. to the equation and you start getting a meaningful number. Then you have the big driver in July 2027 as Adult Use comes online. Conservatively we could double or triple the existing sales level. That is a lot of incremental sales not to mention the margin improvement that they would also experience.

$JUSH For what it was worth, I was modelling JUSHI's revenue for 2027 and 2028 to account for the impact of the Hemp Ban, AU in VA for Q3 2027 and AU of PA in Q1 2028. Revenue for '27 looks to be between $325 - $345MM. For 2028, I am forecasting $565 -$585MM. Obviously there is some risk to the PA component but given the impacts of the election on the PA Statehouse it is quite likely that this could be passed late in Q1 '27. The issue is when they can launch, the earliest seems to be Q4 '27 but Q1 '28 seems more likely. Without AU in PA my 2028 revenue forecast drops to $455 - $475MM. Assuming 280E changes on their tax filings and the likely margin improvements from the increased volume their could be a lot of cash flowing out of JUSHI in the next couple of years.