By Robert Hoban, Forbes on February 9, 2023
The cannabis industry – both domestic and international in scope, and comprised of two substantial subsectors: marijuana and hemp – started last year off strong. Namely, with a splash of high-profile M&A activity in January and February. There was tremendous promise for growing the market.
As we entered second quarter of 2022, the hope for a fruitful Q2 faded. By Q3, it was full-fledged retreat, with many of the industry investment conferences refusing to even consider seminar presentations or panels regarding workouts, receiverships or other proactive measures designed to protect or mitigate the poor economic conditions surrounding the industry and many of its operators. There was a concerted effort to “keep it positive” after the industry had been called “recession proof” and designated as an “essential business,” while enjoying record high sales numbers and revenues. Things were good — until reality set in.
– Read the entire article at Forbes.