Canopy Growth Corp (WEED)

[Bonno]

Mayday!!!

Colorado cannabis wholesale flower prices plummet to all-time low.

The wholesale price of cannabis flower in Colorado dropped to an all-time low, reflecting a market saturated with supply and squeezing cultivator margins.

The price per pound was $709 as of July 1, down 46% from $1,309 a year ago and nearly 60% from $1,721 in January 2021, according to Colorado Department of Revenue data.

Previously, the low was $759 a pound in October 2018.

The data is published quarterly, so there are fluctuations within a given quarter. But the figures indicate the degree of price depression in the market.

Doomed?