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Thursday, February 06, 2020 3:49:28 PM
Black market competition will be a continued challenge for legal operators due to high taxes and heavy regulation in California and a lack of a sizable legal wholesale supply market in Michigan in the near term.
Remains upbeat on the U.S. sector, noting that two recent industry reports from ArcView Research and BDS Analytics had actually raised their estimates for 2020 to 2024 sales growth. The reports found U.S. cannabis sales totaled more than $12 billion in 2019, up 23% from 2018 despite all the challenges.
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