Cannabis index funds like MSOS and YOLO, as well as companies like Tilray and Canopy Growth are down 70% in the worst cases. It is a contested topic for sure, but aside, does cannabis have revenue potential in a legal retail setting? Can big publicly traded companies profit off of what is essentially a plant; What advantage do these companies have over small business growers and small business dispensaries? In Colorado, so much weed flooded the market from growers that it drove the price down a lot.
You can make the argument that they could possibly have control over the medical cannabis sector. But from personal experience, most people use their medical marijuana licenses a purely in recreational way. For people that do actually have chronic pain, I’d imagine they would just start shopping retail because of lower prices.
Cannabis legalization is ultimately stuck to individual states, and moving with the slow turning wheels of democracy.
I wanted to vent out my perspective and want to hear yours as well.
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