One expert said it was “a warning signal” that “the state's legal market is on the brink of collapse.”
Hirsh Jain, a cannabis consultant at Ananda Strategy and the vice chair of the California Cannabis Chamber of Commerce, said in an email to SFGATE that the drop in sales is “a warning signal” that “the state's legal market is on the brink of collapse.”California's drop in pot revenue last year follows a pattern seen in other states with legal cannabis: Sales balloon during the first years of legal pot, and then eventually, growth levels off.
“For a fairly immature market like California to experience such a decline in sales so early in its tenure as an adult use state is unprecedented,” Jain wrote in an email to SFGATE.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Don Lemon Given Final Warning By CNN, One More Screw Up & He's OutDon Lemon is on thin ice at CNN -- although he's being welcomed back into the fold for now ... TMZ has learned he's a strike away from getting the boot permanently, and he knows it.
Read more »
At VMI, two classmates — one Black, one White — war over school’s futureThey graduated together in 1985. Now Virginia Military Institute's first Black superintendent, Cedric T. Wins, is under fire from ‘brother rat’ Matt Daniel.
Read more »
Calif. festival books headliner despite ‘white power’ controversyThe frontman was recorded doing a Nazi salute onstage and shouting 'white power!' at a 2016 concert.
Read more »
'Do not engage': Calif. police warn of return of 'Evil Elmo'Although a Cookie Monster wandering the wharf may seem like a fun photo op, police warn people to avoid the man.
Read more »