The cannabis industry is still riddled with ambiguity, high taxation, and onerous rules that make profitability elusive and allow illegal sales to proliferate. In a truly global world, it will be impossible to ignore an illicit market. We will treat the regulation of cannabis just like alcohol. Consumers are not going to tolerate expensive products that can easily be bought cheaper elsewhere. Likewise, patients do not want to pay expensive doctors to tell them to take pharmaceuticals like Epidilox through insurance, when they can easily buy high doses of nutraceuticals such as cannabidiol (CBD) cheaper over-the-counter. These bumps will be smoothed out over time. SPACs will continue until investors get bored, at which point Wall Street will find a new way to raise money for high-growth industries. For now, we have the SPAC. SPACs are so limiting because they tie up money that should go to critically needed infrastructure and not to overly paid executives for purchasing existing overvalued facilities.
Michael Sassano, Cannabis Business Executive – Cannabis and Marijuana industry news, 03/22/2021 19:01:00