Colorado’s cannabis industry prepares for tough times as U.S. recession looms

During the COVID-19 pandemic lockdowns, weed businesses serviced consumers eager to stock up on their favorite edibles, concentrates and pre-rolls.

“I don’t have a crystal ball,” he said, but “I don’t see the legal cannabis market going away by any means.” Alec Garnett, the Colorado House of Representatives’ Speaker and the bill’s main architect, defended it, saying it aimed to reduce the amount of high-potency concentrate that’s showing up on high school campuses.

Paul Seaborn, assistant professor at the University of Virginia, said the squeeze on Colorado’s industry and other states with mature cannabis markets is because of a combination of factors, including sales leveling out after the COVID-19 spike, sliding prices, increased competition for customers and lower rates of cannabis tourism.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business confidence collapsing in Colorado as recession fears mountConfidence among Colorado business leaders has plunged, with one in five saying the U.S. economy has already entered a recession and nearly six in 10 expecting the downturn to arrive sometime next… Thanks Joe Biden Now is the time to buy. Not Real Estate. Stocks. Buy on bad news from clueless media. But was it “unexpectedly?”
Source: denverpost - 🏆 13. / 72 Read more »

U.S. Solar Trade Association Expands Board of Directors at Pivotal Moment for Solar Industry$ Companies are joining the board of directors of the Solar Energy Industries Association (SEIA).
Source: cleantechnica - 🏆 565. / 51 Read more »