While several segments have contracted, cultivators have taken the largest hit.
While it’s no secret that California cannabis companies have been struggling for years, it wasn’t until this year that the legal marijuana market actually began to shrink noticeably. Now it’s down by almost 29%, according to permit statistics from the state’s Department of Cannabis Control.
As of Oct. 24, the number of active business licenses in the state had dropped to 9,900, a decline of 28.5% since July 2022, when there were 12,719 active provisional and annual cannabis business licenses, the DCC reported. Read more »
Comments are closed.