There is no doubt that 2023 has been a bumpy start for many in the cannabis sector. A bear market is obliterating company valuations. Federal reforms are moving at a glacially slow pace. Inflation continues to choke the equity markets. And to top it off, the plant is still federally illegal, making these collective challenges more than trying. Read this article written by Marion Mariathasan.
With the SAFE Banking Act failing to pass this past December, federal reforms nowhere on the horizon, inflationary pressures surging, a bear market decimating valuations, equity markets all but shutdown, and thriving illicit markets in many states – it turns out that the cannabis industry may not be recession-proof after all. Read the rest of the article written by Katrina Skinner.