Cannabis industry losses
Legalized cannabis is failing. Some recent “lowlights” in the news about the Cannabis industry:
- After a poor earnings report Thursday, the market cap of Canopy Growth, the world’s largest pot company, dropped to C$7.1 billion from C$24 billion in April.
- 190 employees dismissed at MedMen Enterprises
- Aurora Cannabis had its worst day of trading last Friday
Why is cannabis doing so poorly? Nobody thought the illicit market would still be competitive after both Canada and California legalized cannabis. Complex regulation and high taxes are hurting the legalized industry.
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