The cannabis industry started off strong in 2022 with high-profile M&A activity, but as the year progressed, things took a turn. The industry saw a full-fledged retreat and investment conferences refused to consider presentations on workouts and receiverships.
Just like the tech sector, the cannabis industry is experiencing a period of consolidation, liquidation, and a return to business fundamentals. While there's room for winners in the cannabis space, first will come pain.
Companies that resist alignment or merger will suffer, but the industry will eventually evolve stronger. The sooner the industry faces economic reality, the better chance of survival and the creation of the "Google of cannabis."
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