Since 2019, many California marijuana industry insiders boldly predicted a rash of companies would go under this year by citing the market’s unforgiving business conditions and a shortage of reliable investors. Moreover, several indicators in 2020 suggested a “bloodbath” was on the way as sales started to decline. However, the prediction seems to be incorrect as the nation’s largest cannabis market has seen the opposite occur as a result of the entire industry being deemed “essential” during the coronavirus pandemic, steady sales as a direct result of unemployment benefits, and businesses and investors doubling down.
– Marijuana Business Daily, 08/13/2020 6:30:24 AM